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| Glu also announces new employment inducement awards |
San Francisco, Apr 12, 2013 - (ACN Newswire) - Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and publisher of freemium games for smartphone and tablet devices, today announced that Lorne Abony has joined the company's Board of Directors as Chairman of the newly-created Strategy Committee. Abony brings to Glu strong public company growth experience in skill-based gaming and online gambling. The Strategy Committee will assist the Board and senior management in refining Glu's strategic vision and growth initiatives.
"Lorne has a proven track record as an entrepreneur and public company operator. I am delighted that he has joined Glu's Board of Directors and look forward to his contributions as Chairman of the Strategy Committee," said Niccolo de Masi, Glu President and CEO.
"Glu has been a leader in mobile gaming for over a decade. I look forward to working with Glu's Board and senior management team to support new growth initiatives and enhance stockholder value," said Abony.
Mr. Abony is currently CEO and Chairman of London (LSE AIM:MM) and Toronto-listed (TSX:MM) Mood Media Corporation. Mood Media provides in-store media to over 570,000 locations worldwide and had 2012 revenues of $444 million. Prior to Mood Media Abony co-founded FUN Technologies, an online gaming company that grew to be one of the world's largest providers of online casual games and fantasy sports. In March 2006, FUN was acquired by Liberty Media Corp in a deal valuing the company at $484 million.
Abony also served as a Director of Betbull PLC, an Austrian based financial holding company with investments in the real-money gaming and entertainment sectors. Betbull was established as a joint venture between FUN Technologies and bwin Interactive, and was eventually purchased by bwin. Abony has previously served on the board of CryptoLogic Inc., an Ireland-based provider of online gambling software.
Glu also announced that Matthew Drapkin of Becker Drapkin Partners has stepped down as an Independent Director. The Board of Directors is grateful to Matthew Drapkin for his support and contributions to Glu's development.
2008 Equity Inducement Plan
On April 10, 2013, the Compensation Committee of Glu's Board of Directors awarded non-qualified stock options to purchase an aggregate of 196,500 shares of Glu's common stock to 14 newly hired employees pursuant to Glu's 2008 Equity Inducement Plan. Each of the stock options has a six-year term, vests on a four-year schedule (25% of the underlying shares will vest on the first anniversary of the employee's start date, and 2.083% of the underlying shares will vest monthly thereafter), and has an exercise price equal to $2.91 per share, which was the closing price of Glu's common stock on The NASDAQ Global Market on the April 10, 2013 grant date.
Glu's Compensation Committee adopted the 2008 Equity Inducement Plan, which is a non-stockholder approved plan, to facilitate the granting of stock options as an inducement to new employees to join Glu. NASDAQ Marketplace Rule 5635(c)(4) requires a public announcement of equity awards made under this type of plan.
Glu Mobile
Glu Mobile (NASDAQ:GLUU) is a leading global developer and publisher of freemium games for smartphone and tablet devices. Glu is focused on creating compelling original IP games such as CONTRACT KILLER, GUN BROS, DEER HUNTER, BLOOD & GLORY, and SAMURAI VS. ZOMBIES DEFENSE on a wide range of platforms including iOS, Android, Windows Phone, Google Chrome, and MAC OS. Glu's unique technology platform enables its titles to be accessible to a broad audience of consumers globally. Founded in 2001, Glu is headquartered in San Francisco with a major office outside Seattle, and international locations in Canada, China, and Russia. Consumers can find high-quality entertainment wherever they see the 'g' character logo or at www.glu.com. For live updates, please follow Glu via Twitter at www.twitter.com/glumobile or become a Glu fan at www.Facebook.com/glumobile .
CONTRACT KILLER, GUN BROS, DEER HUNTER, BLOOD & GLORY, SAMURAI VS. ZOMBIES DEFENSE, GLU, GLU MOBILE and the 'g' character logo are trademarks of Glu Mobile Inc.
Media Contact
Jason Enriquez
Glu Mobile Inc.
PR@glu.com
+1-415-800-6263
Investor Relations
Seth Potter
ICR
IR@glu.com
+1-646-277-1230
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
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(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Glu Mobile Inc. via Thomson Reuters ONE
Topic: Press release summary
Source: Glu Mobile Inc.
https://www.acnnewswire.com
From the Asia Corporate News Network
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