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- SmartBig vs Mgame: Divestment? Dispute? Exposure?
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YourAttorney- Posted:2022-07-27 00:27:08
- Post subject: SmartBig..
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Ps. This writing is not a bit of light reading. Should you have zero knowledge about or interest towards corporation, or if your brain is average, then just zip it…
I perceive that the quaint announcements posted on this website on 30 June 2022 and 22 July 2022 must’ve led most players to astray, thinking SSO has fallen to new hands. Kids, that’s not the case, the announcements conveyed it clearly that SmartBig’s been there since the start.
However, after digging a bit about Netgame’s background, let me take you all for some excursions that have brought me to different questions:
1. First off, my assumption is limited to data being served on listed company information from Korean Stock Exchange, and official websites of Mgame, SmartBig and Netgame.
2. Secondly, talking about the company structure, with respect to my research, the company structures might be:
a. Mgame Corp and SmartBig Corp are (were) the shareholders of Mgame ENT Ltd.
b. And the following shareholding structure: Mgame ENT Ltd - Netgame - SmartBig Co Ltd.
3. And thirdly: (i) given the above (ii) that now Mgame icon is no longer being displayed anywhere (iii) user agreement is no longer subject to Mgame’s but Smartbig’s and (iv) Netgame starts exposing SmartBig, I firmly believe the Announcements are not merely for the sake of rebranding or that SmartBig needs more exposure as a company, but there must be other objectives. I presume it’s either dispute due to licensing matters, or Mgame divested from Mgame ENT Ltd/Netgame.
So… is Mgame no longer the majority/preferred shareholder by probably carrying out its Put Option or SmartBig exercised its Call Option or a mere Share Purchase deal? But why? If that’s not the case, why SmartBig demands to be exposed now? Is there any dispute? Or is it merely an exposure for SmartBig?
The answer is I don’t know, and I will not do any further research coz I’m busyyy, busy being awesome, so the jury would still be out. Besides, this issue is not my cup of tea, I do this for the sake of educating you all about what is happening.
All in all, to keep my nose clean, this writing is solely a humble assumption/wonder from an attorney and overthinker. Thank you very much.
Best Regards,
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