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The Board of Directors of Next Games Corp. has adopted a new share-based incentive program
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The Board of Directors of Next Games Corporation has adopted a new share-based incentive program
NEXT GAMES CORPORATION COMPANY RELEASE 9 July 2019 7am EEST
The shareholders of Next Games Corporation (the “Company”) have on 21 May 2019 resolved to authorize the board of directors of the Company to resolve on issuances of shares in the Company and option rights entitling thereto so that the total number of shares may, pursuant to the authorization, be increased by a maximum of 925,000 shares in the aggregate.
The board of directors of the Company has on 8 July 2019 approved a new share-based incentive program (“Program”). The Program is part of the incentive and commitment scheme of the Company and the option rights entitling to shares in the Company can be issued based on it to all current and future employees, consultants acting in a key role for and management members of the Company and its group companies. Unless otherwise decided by the board of directors, option rights are issued to the recipients without consideration. Shares and option rights entitling to shares issued under the Program may increase the amount of shares by a maximum of 925,000 shares in the aggregate.
The Strike price of the options have been determined to be the average of the daily closing prices of Next Games Corporation’s shares between 1st of June and 30th of June.
Each option right issued under the Program entitles the recipient to subscribe for one new share in the Company. The option rights issued under the Program are divided into two rounds depending on, whether the option rights have been issued at the latest on 20th July 2019 (“Option Rights Round I”) or after it but not later than on 15 January 2020 (“Option Rights Round II”).
The subscription period for shares issuable pursuant to the option rights issued under the Program commences as of the first registration of the Program with the Finnish Trade Register and expires for Option Rights Round I on 30 June 2024 and for Option Rights Round II on 31 December 2024.
The option rights entitle to share subscription during the subscription period in accordance with the vesting schedule agreed in the option agreement between the Company and the recipient. Unless otherwise agreed in the option agreement, the default vesting schedule applicable to all recipients of the Option Rights Round I shall be such that 25 percent of the option rights granted to a recipient entitle to share subscription on 1 July 2020, and the remaining 75 percent of the option rights entitle to share subscription in 25 percent annual instalments on 1 July 2021, 1 July 2022 and 1 July 2023.
Respectively, the default vesting schedule applicable to all recipients of the Option Rights Round II shall be such that 25 percent of the option rights granted to a recipient entitle to share subscription on 1 January 2021, and the remaining 75 percent of the option rights entitle to share subscription in 25 percent annual instalments on 1 January 2022, 1 January 2023 and 1 January 2024. Unless otherwise decided by the board of directors, share subscription is additionally subject in each case to the recipient continuously providing services to the Company or its group companies as an employee, consultant or management member.
Unless otherwise decided by the board of directors, the subscription price payable for each share subscribed for pursuant to the option rights issued under the Program shall with respect to each option right issued as part of the Option Rights Round I equal the arithmetic mean of the closing prices of the share on the Nasdaq First North Finland market place for June 2019, and respectively, with respect to each option right issued as part of the Option Rights Round II equal the arithmetic mean of the closing prices of the share on the Nasdaq First North Finland marketplace for December 2019. The subscription price will be booked in its entirety into the Company’s invested unrestricted equity reserve.
Unless otherwise decided by the board of directors, if a recipient’s employment or service relationship with the Company or its group companies ceases for any reason, all unexercised option rights that do not yet entitle to share subscription taking into account the agreed vesting schedule will automatically terminate and be forfeited to the Company. The recipient is entitled to exercise option rights entitling to share subscription within thirty (30) days from the date of the termination of the employment or service relationship, at which time any option rights remaining unexercised will automatically terminate and be forfeited to the Company.
Next Games
Next Games (Helsinki Nasdaq First North: NXTGMS) is the first publicly listed mobile game developer and publisher in Finland, specializing in games based on entertainment franchises, such as movies, TV series or books. The developers of the critically acclaimed The Walking Dead games redefines the way franchise entertainment transforms into highly engaging service-based mobile games. In summer 2018, Next Games launched The Walking Dead: Our World, which utilizes cutting edge AR technology and is powered by Google Maps. Currently Next Games is working on multiple new games based on popular entertainment franchises including, Blade Runner Nexus, for the popular Blade Runner franchise and a mobile game based on Netflix’s Stranger Things. For more information head to www.nextgames.com
Source: GlobeNewswire
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: The Board of Directors of Next Games Corp. has adopted a new share-based incentive program
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As the exclusive sponsor of the GamingTECH CEE Awards Party, Endorphina continues its tradition of supporting the gaming industry’s most prestigious event for CEE, following successful sponsorships in 2023 and 2024. This year, the “Endorphina Club” will bring a luxurious experience to summit participants, combining the excitement of the Awards Ceremony with top-tier entertainment, including live piano music, classical ballroom dancers, and a DJ to set the tone for a vibrant afterparty.
The evening will feature a standing 3-course buffet dinner, welcome drinks, beer, and unlimited consumption of wines and non-alcoholic beverages. Attendees can expect an engaging atmosphere, where business meets celebration, as the GamingTECH CEE 2025 Award winners are revealed. These awards celebrate excellence within the GameTech industry, with every winner determined by democratic votes from industry professionals and summit participants.
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Jan Urbanec, CEO of Endorphina commented: “At Endorphina, we believe that gaming is not just about technology—it’s about passion, creativity, and the experiences that bring people together. Sponsoring the GamingTECH CEE Awards Party for the third consecutive year reflects our commitment to celebrating innovation and excellence in the industry. This year, the ‘Endorphina Club’ will offer an elevated experience at the heart of the Prague Gaming & TECH Summit, blending prestige with entertainment in a way that truly represents our brand. We look forward to welcoming our partners and industry friends to an unforgettable evening of recognition, networking, and celebration.”
Endorphina, a leading B2B software provider headquartered in Prague, is known for its diverse and innovative slot games, utilized by top-tier operators in the iGaming industry. The company’s software is certified by iTech Labs and GLI, reinforcing its reputation for reliability and integrity.
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The Endorphina Club and GamingTECH Awards Party is attended by the Prague Gaming & TECH Participants only. Pre-registration is required. Secure your spot at: Endorphina Club 2025 Registration
For more information about the Prague Gaming & TECH Summit and the GamingTECH CEE 2025 Awards, visit: https://hipther.com/events/prague/
The post Endorphina Club to Host GamingTECH CEE 2025 Awards Party at Prague Gaming & TECH Summit appeared first on European Gaming Industry News.
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The post DSTGAMING to Participate in ASEAN Gaming Summit 2025 appeared first on European Gaming Industry News.
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