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New Atari Console that Ataribox?

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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 by Curt Vendel
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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

post-53348-0-58262200-1554494432.png

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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 OR
INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG,
JAPAN, SOUTH AFRICE OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER
MEASURES. 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 the
listing of depositary receipts in Stockholm
* First day of trading expected on April 25, 2019

Paris, April 5, 2019 – Atari SA (“Atari” or the “Company”) announces that it
has received the conditional approval for a secondary listing of the Company’s
shares on Nasdaq First North Stockholm, the market for growth companies in the
Nordic 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 a
region, which is home to a large pool of investors familiar with the video
game sector and to a number of successful listed video game companies. As part
of the listing, Atari will also benefit from increased analyst coverage of the
stock and will participate in investor conferences and roadshows in the region
to raise awareness of the Atari investment story.

This transaction is the listing on the Nasdaq First North Stockholm of
existing shares of Atari SA, through a depositary receipt program. There will
be no new shares issued by Atari; instead, Atari will repurchase existing
shares on the French market and list depositary receipts in Stockholm.
Delivery of the shares to the depositary is guaranteed by a stock loan
agreement concluded between Ker Ventures and the Company.

Frédéric Chesnais, Chairman and Chief Executive Officer and main shareholder
of the Atari Group, commented: “The Nordic region has a vibrant ecosystem of
thriving video game companies, which makes Nasdaq First North a good choice
for another listing of Atari’s shares. Atari is an iconic brand in the video
game industry, and we look forward to raising our profile and broadening our
investor 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.

 

giphy.gif

 

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.

 

post-2410-0-36606700-1554495189_thumb.png

 

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.

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I am so glad I got my money back from this circus. :D

 

I mean I think if they would fight it, they'd have done it by now.

Edited by TACODON
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I am so glad I got my money back from this circus. :D

 

I mean I think if they would fight it, they'd have done it by now.

It's back in your account?

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They just did a credit back but I have a period where they can fight it and I might lose it.

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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.

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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."

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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.

 

giphy.gif

 

 

post-18158-0-64723300-1554499321.jpg

 

 

 

 

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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.

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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

 

pgtSGrO.png

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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.

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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."

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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.

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Should I keep reminding people that Atari's arcade division was spun off as a separate company which lasted till 2001 or 2002?

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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

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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!

 

:D

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