Legal11 bit studios
Completion Report for Share Subscription Series E — 11 bit studios S.A.
1 May 20152 pages~2 min full read
11 bit studios S.A. successfully raised 2,749,500 PLN in gross proceeds through a private placement of Series E common bearer shares.
The company issued 305,500 shares at a price of 9.00 PLN each, despite an initial offering capacity of 400,000 shares.
The subscription period took place between June 22, 2012, and July 27, 2012, with all six subscription agreements finalized between July 25 and July 26.
Total issuance costs amounted to 42,386 PLN, covering preparation, advisory services, and notary fees.
The capital increase was executed by waiving the pre-emptive rights of existing shareholders as authorized by the General Shareholders' Meeting on June 22, 2012.
The issuance costs are classified as deferred expenses to be settled against the company's capital in accordance with Polish accounting regulations.
This corporate report details the successful completion of a private subscription for Series E common bearer shares by 11 bit studios S.A. following a resolution passed by the General Shareholders' Meeting on June 22, 2012. The primary objective of the issuance was to increase the company's share capital through a private placement directed at specific investors, while simultaneously waiving the pre-emptive rights of existing shareholders.
The subscription period commenced on June 22, 2012, and concluded on July 27, 2012. During this timeframe, the company entered into six share subscription agreements between July 25 and July 26. While the initial offering allowed for a maximum of 400,000 shares, the final results show that 305,500 shares were actually subscribed. Each share, with a nominal value of 0.10 PLN, was issued at a price of 9.00 PLN, resulting in total gross proceeds of 2,749,500 PLN for the company.
The issuance was conducted without the involvement of underwriters and did not require a reduction in subscriptions. Total costs associated with the offering amounted to 42,386 PLN, which included 20,000 PLN for preparation and execution, 20,500 PLN for advisory and documentation services, and 1,886 PLN for notary and stamp duties. These costs are accounted for as deferred expenses and will be settled against the company's capital in accordance with Polish accounting laws. The report was prepared in compliance with the regulations of the Alternative Trading System, where the company's securities are listed.
