Press releases
The GAME Group Plc Services Agreement with Electronics Boutique Inc. of the USA (‘EBI’) terminated with immediate effect
02/02/2004
The GAME Group plc (“GAME”), Europe’s largest retailer of video games, announces that it has agreed terms with EBI to terminate the 1995 Services Agreement between the two companies. The 1995 Services Agreement, which required GAME to pay EBI a fee equivalent to 1% of its UK turnover, was due to expire in January 2006. Under the termination agreement, GAME will no longer have to pay fees to EBI after 31 January 2004. In exchange, GAME has agreed to a one-off payment of £8.3 million to EBI which will be charged as an exceptional item in the accounts for the year ended 31 January 2004.
| The GAME Group | ||||
| Martin Long Lisa Morgan | Group Chief Executive Deputy Chief Executive | 01344 464085 | ||
| Financial Dynamics | ||||
| Ben Foster Charlie Armitstead | 020 7831 3113 |
