Curt Vendel Posted April 5, 2019 Share Posted April 5, 2019 (edited) Kiss your Atari box/vcs $$$ goodbye... Atari is in the middle of a shareholder buy back. That means one and only one thing: Atari needs to buy its outside shares back as it prepares to sell itself to another company and that company can opt during negotiations NOT to pickup any outstanding contracts and/or obligations. Meaning the French fry crime syndicate running Atari can walk away with a few million each in their pockets and leave the whole IGG mess in limbo. The new company just buys the IP and name and has nothing to do with the past deals. The $3mill scam is complete. https://finance.yahoo.com/news/atari-description-share-buyback-program-190000145.html Edited April 5, 2019 by Curt Vendel 24 Link to comment Share on other sites More sharing options...
tschak909 Posted April 5, 2019 Share Posted April 5, 2019 Sometimes I hate it, when I'm right. -Thom 9 Link to comment Share on other sites More sharing options...
ColecoJoe Posted April 5, 2019 Share Posted April 5, 2019 Kiss your Atari box/vcs $$$ goodbye... Atari is in the middle of a shareholder buy back. That means one and only one thing: Atari needs to buy its outside shares back as it prepares to sell itself to another company and that company can opt during negotiations NOT to pickup any outstanding contracts and/or obligations. Meaning the French fry crime syndicate running Atari can walk away with a few million each in their pockets and leave the whole IGG mess in limbo. The new company just buys the IP and name and has nothing to do with the past deals. The $3mill scam is complete. https://finance.yahoo.com/news/atari-description-share-buyback-program-190000145.html 6 Link to comment Share on other sites More sharing options...
Flojomojo Posted April 5, 2019 Share Posted April 5, 2019 Are we sure that's the only reason they could be doing this? I don't pretend to understand this stuff, but there seems to be a cap on how much they can suck back in. Seems to me that this could be yet another trick of desperation, as they try to find other places to do business. to wit: ATARI: Atari announces secondary listing on Nasdaq First North in Stockholm ... I wonder how much the fees are for this one? ATARI: Atari announces secondary listing on Nasdaq First North in Stockholm NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY ORINDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG,JAPAN, SOUTH AFRICE OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATIONOR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHERMEASURES. PLEASE SEE IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.Atari announces secondary listing on Nasdaq First North in Stockholm* Listing to broaden investor base in the Nordics* No issuance of new shares – Buyback of existing shares to facilitate thelisting of depositary receipts in Stockholm* First day of trading expected on April 25, 2019Paris, April 5, 2019 – Atari SA (“Atari” or the “Company”) announces that ithas received the conditional approval for a secondary listing of the Company’sshares on Nasdaq First North Stockholm, the market for growth companies in theNordic region. The approval is subject to completion of customary conditions,mainly that the free float requirements are met by the first day of trading.The objective of this listing is to broaden Atari’s shareholder base in aregion, which is home to a large pool of investors familiar with the videogame sector and to a number of successful listed video game companies. As partof the listing, Atari will also benefit from increased analyst coverage of thestock and will participate in investor conferences and roadshows in the regionto raise awareness of the Atari investment story.This transaction is the listing on the Nasdaq First North Stockholm ofexisting shares of Atari SA, through a depositary receipt program. There willbe no new shares issued by Atari; instead, Atari will repurchase existingshares on the French market and list depositary receipts in Stockholm.Delivery of the shares to the depositary is guaranteed by a stock loanagreement concluded between Ker Ventures and the Company.Frédéric Chesnais, Chairman and Chief Executive Officer and main shareholderof the Atari Group, commented: “The Nordic region has a vibrant ecosystem ofthriving video game companies, which makes Nasdaq First North a good choicefor another listing of Atari’s shares. Atari is an iconic brand in the videogame industry, and we look forward to raising our profile and broadening ourinvestor base in the region.” How this is different from just rearranging the deck chairs on a sinking ship is a mystery to me, but someone said that hardware takes a while when you're doing it right, and that one's life is a very complicated drinking game. Look at all that trade activity! Oh, it's just Fred, never mind. I assume everything will settle back down when markets open again on Monday. I liked them better when they made video games. I agree with Pat and Ian about the deadness of the company as a creative entity. Just buying the name doesn't mean you get any of the powers of the old company. 12 Link to comment Share on other sites More sharing options...
TACODON Posted April 5, 2019 Share Posted April 5, 2019 (edited) I am so glad I got my money back from this circus. I mean I think if they would fight it, they'd have done it by now. Edited April 5, 2019 by TACODON 4 Link to comment Share on other sites More sharing options...
ColecoJoe Posted April 5, 2019 Share Posted April 5, 2019 I am so glad I got my money back from this circus. I mean I think if they would fight it, they'd have done it by now. It's back in your account? 3 Link to comment Share on other sites More sharing options...
TACODON Posted April 5, 2019 Share Posted April 5, 2019 They just did a credit back but I have a period where they can fight it and I might lose it. 3 Link to comment Share on other sites More sharing options...
ColecoJoe Posted April 5, 2019 Share Posted April 5, 2019 They just did a credit back but I have a period where they can fight it and I might lose it. Nice. You won, it's done. They won't be fighting this one. 1 Link to comment Share on other sites More sharing options...
TACODON Posted April 5, 2019 Share Posted April 5, 2019 Nice. You won, it's done. They won't be fighting this one. I hope so 3 Link to comment Share on other sites More sharing options...
godslabrat Posted April 5, 2019 Share Posted April 5, 2019 So what's the rallying cry going to be now? "Atari is positioning themselves to be bought out by someone who will write into the contract that they will not be bound by the Atari VCS project." "... ummm, yeah, but I really believe in this. I have faith. They're just bad at communication." 6 Link to comment Share on other sites More sharing options...
+frankodragon Posted April 5, 2019 Share Posted April 5, 2019 When I still look at that interview of Cheesenuts, I wonder what the hell he has on his face especially above his right eye. Either it's Crisco or French butter. 1 Link to comment Share on other sites More sharing options...
john_q_atari Posted April 5, 2019 Share Posted April 5, 2019 Are we sure that's the only reason they could be doing this? I don't pretend to understand this stuff, but there seems to be a cap on how much they can suck back in. I am of the same mind on this. I'm no expert, but who cares if Atari owns 10% of their own shares. If someone wanted a controlling stake it should be relatively easy to slowly out-purchase Atari before coming to a negotiating table. Though I guess they would have to file documents relating to "beneficial ownership" once they cross 5% stock ownership. Link to comment Share on other sites More sharing options...
+x=usr(1536) Posted April 5, 2019 Share Posted April 5, 2019 Kiss your Atari box/vcs $$$ goodbye... Atari is in the middle of a shareholder buy back. That means one and only one thing: Atari needs to buy its outside shares back as it prepares to sell itself to another company and that company can opt during negotiations NOT to pickup any outstanding contracts and/or obligations. Meaning the French fry crime syndicate running Atari can walk away with a few million each in their pockets and leave the whole IGG mess in limbo. The new company just buys the IP and name and has nothing to do with the past deals. The $3mill scam is complete. https://finance.yahoo.com/news/atari-description-share-buyback-program-190000145.html 11 Link to comment Share on other sites More sharing options...
+frankodragon Posted April 5, 2019 Share Posted April 5, 2019 Their being on the NASDAQ should be voided since they even haven't made $1 USD per share ever since they joined last October. Maybe that's why the buy-back so Fred's shares won't be kicked off. They're just "transferred" to another NASDAQ listing...until another six months. Link to comment Share on other sites More sharing options...
carlsson Posted April 5, 2019 Share Posted April 5, 2019 JBerel described a couple of weeks ago how Atari are not on the "real" NASDAQ, only using their services? http://atariage.com/forums/topic/266480-new-atari-console-that-ataribox/?p=4246747 2 Link to comment Share on other sites More sharing options...
+frankodragon Posted April 6, 2019 Share Posted April 6, 2019 Hmmm... looks like it has happened before. https://kotaku.com/atari-officially-delisted-from-nasdaq-453332934 Link to comment Share on other sites More sharing options...
JBerel Posted April 6, 2019 Share Posted April 6, 2019 The buy back is one way to show trading volume to better comply with the foreign listing requirements. They state the whole purpose is to get listed on another market. I agree with Curt's appraisal, but this could also lead into a reverse stock split as they attempts to raise their share price. No matter what they ultimately do, it is an indicator of a traded company in very poor shape. I'm just fascinated by this paragraph of the release. I'm not entirely certain of the action in play, but it certainly is consistent with Atari's effort to "appear" legitimate. "It is stated as required that this objective shall not allow the Company as such to benefit from the presumption of legitimacy introduced by European Regulation (EC) no. 596/2014 of April 16, 2014 on market abuse (known as the "MAR Regulation") in respect of a possible qualification as market manipulation. The Company has chosen to call upon Louis Capital Markets, acting as an investment service provider, to ensure that all purchases under the program are carried out on the market, independently from the Company." 5 Link to comment Share on other sites More sharing options...
Inky Posted April 6, 2019 Share Posted April 6, 2019 Is it too early for a funeral? 3 Link to comment Share on other sites More sharing options...
ColecoJoe Posted April 6, 2019 Share Posted April 6, 2019 BUT WHAT ABOUT COMBAT!!!! It's still coming out right? RIGHT????? Link to comment Share on other sites More sharing options...
+frankodragon Posted April 6, 2019 Share Posted April 6, 2019 Is it too early for a funeral? I know the perfect food for it. 9 Link to comment Share on other sites More sharing options...
Flojomojo Posted April 6, 2019 Share Posted April 6, 2019 Is it too early for a funeral? Only if you just stepped out of a time warp. Atari died in 1996. Hasbro was mostly OK to the legacy. Everything since has been grave robbing, corpse desecration, cannibalism, and necrophilia. 11 Link to comment Share on other sites More sharing options...
pacman000 Posted April 6, 2019 Share Posted April 6, 2019 Should I keep reminding people that Atari's arcade division was spun off as a separate company which lasted till 2001 or 2002? Link to comment Share on other sites More sharing options...
Flojomojo Posted April 6, 2019 Share Posted April 6, 2019 LOL pure trash garbage rubbish sewage poopoo "New PS4, Xbox One and Nintendo Switch console rival has FINAL reveal" https://www.express.co.uk/entertainment/gaming/1110575/PS4-Xbox-One-Nintendo-Switch-console-rival-Atari 5 Link to comment Share on other sites More sharing options...
Flojomojo Posted April 6, 2019 Share Posted April 6, 2019 Should I keep reminding people that Atari's arcade division was spun off as a separate company which lasted till 2001 or 2002? That happened in 1984 and was known as Atari Games, later Atari Games West, and Midway. Not the same company at all, as you know. Probably only needs a mention when someone says they want Paperboy or Marble Madness 3 Link to comment Share on other sites More sharing options...
+x=usr(1536) Posted April 6, 2019 Share Posted April 6, 2019 That happened in 1984 and was known as Atari Games, later Atari Games West, and Midway. Not the same company at all, as you know. Probably only needs a mention when someone says they want Paperboy or Marble Madness Battlezone on the Ataribollocks is gonna be the bomb-diggity! 3 Link to comment Share on other sites More sharing options...
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