Glu Mobile Inc. : LORNE ABONY JOINS GLU MOBILE BOARD OF DIRECTORS AS CHAIRMAN
OF STRATEGY COMMITTEE
LORNE ABONY JOINS GLU MOBILE BOARD OF DIRECTORS AS CHAIRMAN OF STRATEGY
Glu also announces new employment inducement awards
San Francisco, Calif. - Apr. 11, 2013 - 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 (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
CONTRACT KILLER, GUN BROS, DEER HUNTER, BLOOD & GLORY, SAMURAI VS. ZOMBIES
DEFENSE, GLU, GLU MOBILE and the 'g' character logo are trademarks of Glu
Glu Mobile Inc.
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Glu Mobile Inc. via Thomson Reuters ONE
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