CEO Harald Riegler to Be Elected to the Jumpgate Board of Directors
In the run-up to the Annual General Meeting, Jumpgate has published the agenda and thus plans for a change in the composition of the Board of Directors. At the same time, Jumpgate is taking out new loans and proposing the issue of warrants to the lenders.
Stephan Steininger07.05.2025 12:20
Harald Riegler, CEO Jumpgate
The lenders are the main shareholders, certain members of the Executive Board, and external lenders. They are providing Jumpgate with new credit totalling SEK 13.6 million. At current exchange rates, this equates to around EUR 1.25 million.
The lenders are the main shareholders, certain members of the Executive Board, and external lenders. They are providing Jumpgate with new credit totalling SEK 13.6 million. At current exchange rates, this equates to around EUR 1.25 million.
Almost half of the money—SEK 4.9 million, to be precise—is intended to refinance existing debt. The loan has a term until the end of December 2026. At the same time, Jumpgate's Board of Directors intends to propose to the Annual General Meeting that a targeted issue of warrants be resolved. These are to be issued specifically to the lenders. As the warrants are an integral part of the new loans, the lenders can demand repayment of their loans if the Annual General Meeting does not approve the issue of the warrants.
If all warrants are used to acquire new shares, Jumpgate could raise a total of around SEK 36 million in fresh capital, approximately EUR 3.3 million. Around 70% of this will be used to repay debt. The remainder will be used for working capital and is intended to support the completion and marketing of three games currently in production. These are Ed & Edda: Grand Prix of Europe (a collaboration with Europa-Park), Star Trek, and an as yet unspecified game to be published by THQ Nordic.
"We are very grateful for the support of our investors, including some of our largest shareholders, as we enter an exciting phase for the company. With the release of several key games this year, we look forward to reaping the rewards of the teams' hard work over the last two years in a challenging market environment," says Harald Riegler, CEO of Jumpgate.
For Riegler, the upcoming Annual Meeting will also have personnel consequences. As can be seen from the agenda, which has now also been published, he is to be elected to the Board of Directors, of which he is not currently a member, although he is CEO of the company. Members Marcus Jacobs, Viktor Modigh, Andras Vajlok, and Markus Windelen are to be re-elected. Current board member Martin Ekdal will therefore not be standing for re-election.
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Almost half of the money—SEK 4.9 million, to be precise—is intended to refinance existing debt. The loan has a term until the end of December 2026. At the same time, Jumpgate's Board of Directors intends to propose to the Annual General Meeting that a targeted issue of warrants be resolved. These are to be issued specifically to the lenders. As the warrants are an integral part of the new loans, the lenders can demand repayment of their loans if the Annual General Meeting does not approve the issue of the warrants.
If all warrants are used to acquire new shares, Jumpgate could raise a total of around SEK 36 million in fresh capital, approximately EUR 3.3 million. Around 70% of this will be used to repay debt. The remainder will be used for working capital and is intended to support the completion and marketing of three games currently in production. These are Ed & Edda: Grand Prix of Europe (a collaboration with Europa-Park), Star Trek, and an as yet unspecified game to be published by THQ Nordic.
"We are very grateful for the support of our investors, including some of our largest shareholders, as we enter an exciting phase for the company. With the release of several key games this year, we look forward to reaping the rewards of the teams' hard work over the last two years in a challenging market environment," says Harald Riegler, CEO of Jumpgate.
For Riegler, the upcoming Annual Meeting will also have personnel consequences. As can be seen from the agenda, which has now also been published, he is to be elected to the Board of Directors, of which he is not currently a member, although he is CEO of the company. Members Marcus Jacobs, Viktor Modigh, Andras Vajlok, and Markus Windelen are to be re-elected. Current board member Martin Ekdal will therefore not be standing for re-election.
