Legal11 bit studios
Resolution No. 0: Ordinary General Meeting of 11 bit studios S.A. dated 31 May 2023
1 Jun 202317 pages~16 min full read
11 bit studios S.A. reported a net profit of 22,889,816 PLN for the 2022 fiscal year, with the entirety of these earnings allocated to supplementary capital rather than distributed as dividends.
See it on page 4The company’s total balance sheet value reached 244,197,441 PLN as of December 31, 2022, with equity increasing by 27,206,389 PLN to a total of 224,543,680 PLN.
See it on page 4A reserve fund previously used for employee share-acquisition loans is being dissolved, resulting in 7,728,608.80 PLN being transferred back into the company’s supplementary capital.
See it on page 16Net cash for the company increased by 3,837,461 PLN during the 2022 reporting period.
See it on page 4The Ordinary General Meeting held on May 31, 2023, granted formal discharge to the Management and Supervisory Boards for their conduct during the 2022 fiscal year.
See it on page 3Administrative adjustments include setting monthly gross remuneration for the Audit Committee at 750 PLN for the Chairman and 500 PLN for members.
See it on page 14These draft resolutions for the Ordinary General Meeting of 11 bit studios S.A., scheduled for May 31, 2023, outline the formal governance and financial approval processes for the company’s 2022 fiscal year. The primary purpose of these resolutions is to ratify the financial performance of the Warsaw-based game developer, allocate annual profits, and grant discharge to the members of the Management and Supervisory Boards for their conduct during the reporting period.
Financial data for the period ending December 31, 2022, shows a total balance sheet value of 244,197,441 PLN and a net profit of 22,889,816 PLN. The resolutions propose that the entirety of this net profit be allocated to the company’s supplementary capital rather than distributed as dividends. Additionally, equity increased by 27,206,389 PLN during the year, reaching a total of 224,543,680 PLN, while net cash increased by 3,837,461 PLN.
Beyond financial approvals, the resolutions address administrative and structural adjustments. These include setting monthly gross remuneration for the Audit Committee—750 PLN for the Chairman and 500 PLN for members—and establishing a cap on fees for advisors to the Supervisory Board. A significant structural resolution involves the dissolution of a reserve fund previously established to provide loans for employees to acquire company shares. Because all eligible participants in the 2017–2019 Incentive Program exercised their rights by April 2023, the remaining 7,728,608.80 PLN in the fund is slated for transfer back into the company’s supplementary capital.
The scope of these documents is limited to the internal corporate governance of 11 bit studios S.A. under the Polish Commercial Companies Code. The methodology follows standard European public company transparency requirements, relying on audited financial statements and reports from the Management Board and Supervisory Board to inform shareholder voting.
