Games Workshop Group PLC
22 February 2008
Games Workshop Group PLC ('Games Workshop' or the 'Company')
Agreements with Fantasy Flight Games Inc ('Fantasy Flight')
Games Workshop and Fantasy Flight have entered an agreement for Fantasy Flight
to become the exclusive publisher of board games, card games (including
collectible card games) and role-playing games, based on Games Workshop's family
of renowned intellectual properties including Warhammer Fantasy Battles and
Warhammer 40,000. Additionally, the deal will grant Fantasy Flight the exclusive
rights to publish new versions of the classic board and card games titles
published by Games Workshop over the last 25 years.
In addition, Sabertooth Games Inc. ('Sabertooth'), a wholly owned subsidiary of
Games Workshop, has reached an agreement to sell certain assets, including
inventory and work in progress, and to transfer the publication rights relating
to its Universal Fighting System collectible card game to Fantasy Flight.
The consideration for the sale of the assets amounts to US $250,000, payable in
cash. Following the sale, which represents a substantial part of the Sabertooth
business, Games Workshop will recognise an impairment charge of approximately
£0.9m relating to the goodwill of Sabertooth. This non-cash cost will form part
of the exceptional restructuring charge in the Games Workshop financial
statements for the year ending 1 June 2008. The Company expects that the total
amount of this charge for the current year will be in the range of £2m-£3m, in
line with current market expectations.
Mark Wells, CEO of Games Workshop, said: 'Fantasy Flight is a world class
operator in this sector and we are very pleased to have come to this
arrangement. Games Workshop is proud of all its products and we believe that
Fantasy Flight will protect and nurture our legacy in each of these niche
markets.
'Importantly, these agreements will enable Games Workshop to focus further upon
its core activities of design, manufacture and distribution of tabletop
wargames.'
For further information, please contact:
Games Workshop Group PLC Tel: 0115 900 4001
Mark Wells, Chief Executive
Michael Sherwin, Finance Director
Investor relations website investor.games-workshop.com
General website www.games-workshop.com
Rawlings Financial PR Limited Tel: 01756 770 376
Catriona Valentine
This information is provided by RNS
The company news service from the London Stock Exchange