Shares in the rejuvenated GAME have reached a record high of over 300p today.
That gives it a market cap of 510m.
The lucky customers who were offered 100 in virtual loyalty shares were from last week able to cash them in. Their final value, which is tied to GAME’s share price, will be discovered on October 31st. At the current price their value stands at 151.
The cash-in window will remain open until October 26th. Virtual share holders can choose between cashing in all, half or none of their shares. Further windows are scheduled for the future.
We were really excited to thank our most loyal customers for their support by giving them Virtual Loyalty Shares when we floated the business on the London Stock Exchange earlier this year,” insight and marketing director Fred Prego said.
And as we head into GAME season, with a fantastic pipeline of new releases, it’s exciting to see the first trade-in window open, giving customers the chance to redeem and spend their points if they wish. But of course they don’t have to trade-in now, there will be plenty more opportunities to do so – deciding when is all part of the GAME.”
GAME Digital arrived on the London Stock Exchange on June 6th priced at 196.5p. By June 18th the price had passed 200p – a price it has not since fallen below. 250p was reached on August 18th and despite a minor wobble in mid-September has since steadily progressed.
GAME last week reported operating profit of 2.8m – up from the 15.6m loss the year before.
It’s all a far cry from the lows of 2012 when the old GAME saw its share price plummet to below 1p before succumbing to administration at the end of March. It was delisted from the Stock Exchange in April 2012, just days after the company exited administration.