22nd Feb 2008 16:30
Games Workshop Group PLC22 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 Flightto become the exclusive publisher of board games, card games (includingcollectible card games) and role-playing games, based on Games Workshop's familyof renowned intellectual properties including Warhammer Fantasy Battles andWarhammer 40,000. Additionally, the deal will grant Fantasy Flight the exclusiverights to publish new versions of the classic board and card games titlespublished by Games Workshop over the last 25 years. In addition, Sabertooth Games Inc. ("Sabertooth"), a wholly owned subsidiary ofGames Workshop, has reached an agreement to sell certain assets, includinginventory and work in progress, and to transfer the publication rights relatingto its Universal Fighting System collectible card game to Fantasy Flight. The consideration for the sale of the assets amounts to US $250,000, payable incash. Following the sale, which represents a substantial part of the Sabertoothbusiness, Games Workshop will recognise an impairment charge of approximately£0.9m relating to the goodwill of Sabertooth. This non-cash cost will form partof the exceptional restructuring charge in the Games Workshop financialstatements for the year ending 1 June 2008. The Company expects that the totalamount of this charge for the current year will be in the range of £2m-£3m, inline with current market expectations. Mark Wells, CEO of Games Workshop, said: "Fantasy Flight is a world classoperator in this sector and we are very pleased to have come to thisarrangement. Games Workshop is proud of all its products and we believe thatFantasy Flight will protect and nurture our legacy in each of these nichemarkets. "Importantly, these agreements will enable Games Workshop to focus further uponits core activities of design, manufacture and distribution of tabletopwargames." For further information, please contact: Games Workshop Group PLC Tel: 0115 900 4001Mark Wells, Chief ExecutiveMichael Sherwin, Finance Director Investor relations website investor.games-workshop.comGeneral website www.games-workshop.com Rawlings Financial PR Limited Tel: 01756 770 376Catriona Valentine This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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