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MKL - Mighty Kingdom

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Mighty Kingdom Limited is Australia's largest independent game developer with over 80 staff. It was named the 2019 Studio of the Year at the 2019 Game Connection Asia Pacific Game Developer Awards, Australia's most prestigious game developer award.

To-date, Mighty Kingdom has released more than 50 games, with more than 50 million downloads.

Its current in-market games include 9 Shopkins games, LEGO Friends: Heartlake Rush, Snap's Sugar Slam, Wild Life: Puzzle Story and Ava's Manor.

Within the first half of 2021, Mighty Kingdom is scheduled to release Conan Chop Chop (its first console game) and Sony Pictures' Peter Rabbit Run.

Mighty Kingdom also has several other games in development with release schedules throughout 2021/2022.

It is anticipated that MKL will list on the ASX during April 2021.

www.mightykingdom.com

MIGHTY KINGDOM

At Mighty Kingdom, we Make Games with Heart! Our game company develops titles for console, PC and mobile platforms. Our team is deeply invested in making games players will love.
www.mightykingdom.com www.mightykingdom.com
 
Listing date21 April 2021 11:00AM AEST ##
Company contact detailshttps://mightykingdom.com/
Ph: (08) 7200 3252
Principal ActivitiesGame development
GICS industry groupTBA
Issue Price$0.30
Issue TypeOrdinary Fully Paid Shares
Security codeMKL
Capital to be Raised$18,000,000
Expected offer close date31 March 2021
UnderwriterNot underwritten. CCZ Statton Equities Pty Ltd (Lead Manager)
 
started out up but ended up down

(Day one; 3 minute chart)
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Herald Sun October 31 2023

Phoenix Portfolios has snapped up a large chunk of struggling game developer Mighty Kingdom​

Phoenix Portfolios has bought a large stake in Michelle Guthrie-chaired game developer Mighty Kingdom, which has flagged buyer interest on a number of fronts.

Phoenix Portfolios has built a major stake in embattled game developer Mighty Kingdom, but won’t shed any light on why it has done so.
The Melbourne-based investment firm told the ASX on Monday it had picked up about 35 million shares in Mighty Kingdom, moving from a 5.49 per cent holding to 12.21 per cent.

Phoenix director Stuart Cartledge had no comment when contacted by The Australian on Monday.

Mighty Kingdom shares are trading at just 1.1c, down from its 30c per share listing price in 2021, with the Adelaide-based company raising $1m at 1c per share earlier this month, with directors including chair Michelle Guthrie taking part.

The company flagged at the time that it had received “several unsolicited inquiries from corporate and other entities expressing interest in the company’’.

The company’s market capitalisation upon listing was north of $50m, however it is now worth less than $5m, having burned through the initial public offer money it raised, forcing it to raise about $7m a year ago plus the extra $1m more recently.

Mighty Kingdom is also involved in a legal tussle with investor and former chief executive Shane Yeend over money he did not pay into last year’s raise, with the parties disagreeing on whether the conditions for payment had been met.
 
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