Lottoarena Entertainment plc announces today, that the company concluded already on the 18th of November 2013 together with the main shareholder Lottoarena AG, Switzerland, an agreement for the purchase of source codes on a new lottery platform. Lottoarena AG itself purchased recently the complete license rights for the source codes of a newly developed lottery platform "lottoarena.de" for the entire EU internal market. The development of the new internet platform includes the so-called lottery ticket pilot, the Front- and Back-end development and the specifically for Lottoarena developed Content Management System. With the purchase of the license rights, the Lottoarena Group is entitled to copy and duplicate the platform through its own subsidiaries and deploy it with the respective adaptations within the entire EU internal market. This brings Lottoarena into the position, to perform her European expansion without additional investments into the platform technology. The only costs which would be incurred are the country specific adaptations, such as language, hosting, billing etc. These would be carried by the subsidiaries themselves. Lottoarena AG has paid one time 1.050.000,00 ?uros for the purchase of the license rights. In November 2013 Lottoarena AG brought in this platform including all rights as a contribution in kind into the Lottoarena Entertainment Plc at their own acquisition costs. In return the AG receives 875.000 new shares from the authorised capital increase. This corresponds to a share price of EUR 1,20 per share. Through this transaction the equity ratio of Lottoarena Entertainment plc improves significantly. Subject to a valuation report to be drawn up and the audit by an auditor, the PLC will, after this transaction, identify this as equity of 1.300.000,00 Euro. With this new internet platform, the Lottoarena Entertainment plc will additionally generate revenues from licenses, which she will receive from the current subsidiary and all future operative subsidiaries in the whole of Europe.
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