Ourgame International Issues Legal Letter to Nasdaq-Listed Unit Over Sales of Shares

MT Newswires Live

2024-10-04

Ourgame International (HKG:6899) issued an additional legal letter to Nasdaq-listed unit Allied Gaming & Entertainment requesting a quick response to a legal letter sent by the company in September, a Friday bourse filing said.

The previous letter, which failed to receive a response, had been sent to Allied Gaming & Entertainment after the company learned two designated investors had acquired additional shares in the unit through multiple transactions.

The acquisitions could potentially lead to a change in Ourgame International's control over Allied Gaming & Entertainment, according to the filing.

The company, in the additional legal letter, also requests Allied Gaming & Entertainment to convene its 2024 annual general meeting as soon as possible and not later than Dec. 25.

Allied Gaming & Entertainment had previously, in June, terminated the sale of 7.3 million shares to Elite Fun Entertainment for $6.6 million.

Trading in the shares of the Chinese online card and board games developer, which was suspended March 28, remains suspended.

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