Legal

Resolution No. 01/11/2011 of the Extraordinary General Meeting of 11 bit studios

10 November 201118 pages4,369 words

Summary

The proposed expansion of 11 bit studios in late 2011 centers on a strategic increase in share capital to accelerate internal development and market competitiveness. By issuing up to 500,000 Series D ordinary bearer shares, the company aims to raise its share capital from 187,076.10 PLN to a maximum of 237,076.10 PLN. This capital hike is structured as a private subscription that intentionally waives the pre-emptive rights of existing shareholders. This approach is designed to attract institutional investors who can provide not only the necessary financial liquidity but also specialized industry expertise to support the company’s long-term growth objectives. The primary objective of this fundraising effort is the establishment of a third internal development team. The resulting capital will cover the initial production costs of new software projects and fund aggressive marketing campaigns intended to solidify the company’s standing within the global gaming market. To facilitate this growth, the management is authorized to pursue the dematerialization of these new shares and seek their admission to the New Connect Alternative Trading System on the Warsaw Stock Exchange. This move aligns with the company’s broader operational framework, which encompasses game publishing, software development, and film production. Structurally, the company maintains a governance model consisting of a General Meeting, a Supervisory Board, and a Management Board, each operating on three-year terms. Financial stability is reinforced by a mandate to allocate at least 8% of annual profits to supplementary capital until it reaches one-third of the total share capital. By integrating these financial and operational strategies, the company seeks to transition into a more robust phase of production, leveraging external investment to scale its creative output and distribution capabilities within the digital entertainment industry.

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Resolution No. 01/11/2011 of the Extraordinary General Meeting of 11 bit studios

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