Goodwill Entertainment Settles Litigation, Clears Funtech Acquisition

MT Newswires09-25

Goodwill Entertainment (SGX:GEH) has resolved its litigation matters involving Funtech Solutions, clearing the way to fulfill its deferred payment obligations for the acquisition of the entertainment technology firm, according to a Thursday Singapore bourse filing.

The Singapore State Courts on Sept. 9 ordered Funtech to pay SG$65,401 to the plaintiff, while a Sept. 16 decision required a further SG$79,486 in costs and disbursements.

Goodwill Entertainment subsequently exercised its set-off rights under the sale and purchase agreement, applying SG$254,562 against the SG$350,000 deferred cash consideration. The amount included payments under the judgment and costs decisions, as well as legal fees and disbursements incurred by Funtech.

The remaining surplus of S$95,437 has been paid to the vendors in full on Thursday, fully discharging the company's purchase consideration obligations.

The company said the transactions are not expected to materially affect its net tangible assets or earnings per share for fiscal year 2026.

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