PlayLogic Reverse Merger Completed News
Jon Wilcox
04/07/2005
The Netherlands` largest publisher completes its `reverse merger` with Donar Enterprises...
Dutch publisher PlayLogic, has today announced that it has completed its reverse merger with Donar Enterprises. As a result of this, PlayLogic now becomes a wholly owned subsidiary of Donar with its shareholders taking a 94.8% share of Donarâs outstanding shares.
As part of the deal, PlayLogicâs CEO Willem M. Smit becomes a member of Donarâs Board of Directors as well as the companyâs President and CEO, ousting former Donar President Timothy Halter. Rogier W. Smit becomes Executive Vice President at Donar, with Leo van de Voort named as the companyâs new CFO.
Commenting on the merger, Willem M. Smit, said, "We believe this transaction will offer PLAYLOGIC important access to the US capital market and will enable us to capitalize on what we perceive to be tremendous growth opportunities in the games and digital entertainment market internationally.
Weâll have more news shortly...