Business
Re Agreement
Re Agreement.
About this update from Games Workshop Group Plc
[{"type":"text","content":"\n Games Workshop Group PLC\n22 February 2008\n\n\n\n Games Workshop Group PLC ('Games Workshop' or the 'Company')\n\n Agreements with Fantasy Flight Games Inc ('Fantasy Flight')\n\n\nGames Workshop and Fantasy Flight have entered an agreement for Fantasy Flight\nto become the exclusive publisher of board games, card games (including\ncollectible card games) and role-playing games, based on Games Workshop's family\nof renowned intellectual properties including Warhammer Fantasy Battles and\nWarhammer 40,000. Additionally, the deal will grant Fantasy Flight the exclusive\nrights to publish new versions of the classic board and card games titles\npublished by Games Workshop over the last 25 years.\n\nIn addition, Sabertooth Games Inc. ('Sabertooth'), a wholly owned subsidiary of\nGames Workshop, has reached an agreement to sell certain assets, including\ninventory and work in progress, and to transfer the publication rights relating\nto its Universal Fighting System collectible card game to Fantasy Flight.\n\nThe consideration for the sale of the assets amounts to US $250,000, payable in\ncash. Following the sale, which represents a substantial part of the Sabertooth\nbusiness, Games Workshop will recognise an impairment charge of approximately\n£0.9m relating to the goodwill of Sabertooth. This non-cash cost will form part\nof the exceptional restructuring charge in the Games Workshop financial\nstatements for the year ending 1 June 2008. The Company expects that the total\namount of this charge for the current year will be in the range of £2m-£3m, in\nline with current market expectations.\n\nMark Wells, CEO of Games Workshop, said: 'Fantasy Flight is a world class\noperator in this sector and we are very pleased to have come to this\narrangement. Games Workshop is proud of all its products and we believe that\nFantasy Flight will protect and nurture our legacy in each of these niche\nmarkets.\n\n'Importantly, these agreements will enable Games Workshop to focus further upon\nits core activities of design, manufacture and distribution of tabletop\nwargames.'\n\n\nFor further information, please contact:\n\nGames Workshop Group PLC Tel: 0115 900 4001\nMark Wells, Chief Executive\nMichael Sherwin, Finance Director\n\nInvestor relations website investor.games-workshop.com\nGeneral website www.games-workshop.com\n \nRawlings Fina...