The Management Board of Cherrypick Games S.A. “Issuer”, “Company” announces that today it has received information that a Finnish bailiff has successfully seized the assets of the bank account of KuuHubb Oy, Helsinki, “Kuu Hubb”, for the total amount of EUR 300,000, which corresponds to the sum of the Issuer’s outstanding receivables from KuuHubb under the agreement for the sale of the rights to the game My Hospital “Agreement”.

The attachment was made in execution of the Finnish Court’s decision to provisionally secure the Issuer’s claims under the Agreement on KuuHUbb’s assets up to the amount of EUR 1.2 million “the Order” as a result of the granting of the Issuer’s request for security before the proceedings were initiated. The Court, in its reasoning for the Order issued during the non-participation phase of the proceedings, stated that the Company’s claim for payment by KuuHubb of the consideration under the Contract was not in doubt and that security in this manner was justified.

The Company, as required by Finnish law, has made a refundable deposit of EUR 200,000 with the Finnish Enforcement Authority. Pursuant to the terms of the agreement with KuuHubb of which the Company reported in ESPI Current Report No. 4/2018 of 2 May 2018, the Issuer may submit the dispute to the Helsinki Arbitration Court. The Issuer will report on further actions related to the collection of the receivables from KuuHubb in subsequent current reports.