10tacle acquires 29 per cent stake in Climax… or does it?

This 10tacle press release, which starts off:

10TACLE STUDIOS AG acquired 29 % stake in CLIMAX Group

Darmstadt, August 6th, 2007 – 10TACLE STUDIOS AG and the British developer CLIMAX Group Ltd. have entered into a strategic partnership to jointly develop computer and video games in specific genres. With this agreement 10TACLE STUDIOS AG has decided as well to acquire within the coming weeks a 29% stake in Climax Group ordinary shares.

led people to believe 10tacle was, well, acquiring a 29 per cent stake in Climax. And reasonably so: I sure thought that was what was happening.

It turns out this is not the case according to Karl Jeffrey, Climax’s boss:

“The 29 per cent rumour was all based on as press release 10tacle did earlier in the year which was factually wrong and not approved by Climax,” said Jeffrey.

“I own 100 per cent of Climax, I have not sold or agreed to sell a single share to 10tacle or anyone else,” he stated.

Well, that sounds like an amusing misunderstanding. I wonder what happened there.

“Hey Jurie,” I hear you ask, “didn’t you say you were doing some work for 10tacle?”

Yes I am. But I am actually very far removed from corporate HQ where this kind of stuff gets decided, so this was news to me.