Information  X 
Enter a valid email address

Legendary Invest PLC (LEG)

  Print      Mail a friend

Wednesday 27 July, 2011

Legendary Invest PLC

New Product Demo

RNS Number : 2040L
Legendary Investments PLC
27 July 2011
 



27 July 2011

Legendary Investments Plc

 

("Legendary" or the "Company")

 

Raw Games Limited ("Raw Games") Announces Publisher Demo of its Product "The Spire"

 

Legendary is pleased to announce that Raw Games has reached its first milestone, the completion of a 'publisher demo', in the development of its game, "The Spire".

The publisher demo is an early prototype showcasing the main game-play elements of "The Spire" and is a critical step in securing publishing and distribution contracts along with funding for further development of "The Spire". Prior to the completion of the publisher demo, Raw Games had received enquiries from various international publishers and industry participants in "The Spire". With the publisher demo ready, Raw Games is now in a position to enter such discussions.

Legendary acquired an initial 42.5 per cent equity interest in Raw Games in May 2011. The principals and staff of Raw Games were incentivised to earn back equity in Raw Games by hitting milestones. The completion of the publisher demo of "The Spire" constitutes the first such milestone, and as a result of its completion, the principals and staff have earned back 2 per cent of the equity of Raw Games leaving Legendary with 40.5 per cent stake.

Raw Games specialises in the development of computer games on platforms which include mobile devices.

Legendary has provided strategic guidance and management support to Raw Games in achieving this milestone. Legendary continues to work with Raw Games in reaching its next target and securing industry partners to help develop, publish and distribute "The Spire". The completion of the publisher demo demonstrates Legendary's ability to assist pro-actively its investee companies in developing and adding value to their businesses.

 

Contact:



Legendary Investments Plc

Thomas Reuner

020 8201 3536

Northland Capital Partners Ltd

(Nominated Adviser)

Gavin Burnell / Rod Venables

020 7796 8800

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
NRABSGDRCBDBGBR

a d v e r t i s e m e n t