Legal11 bit studios
RB 4/2024: Sale of Shares by Management Persons
20 Feb 20241 pages~1 min full read
On February 20, 2024, three top executives at 11 bit studios S.A. simultaneously sold shares of the company.
The divestments involved President of the Management Board Przemysław Marszał and Management Board Members Michał Drozdowski and Paweł Feldman.
The transactions were disclosed in compliance with Article 19 of the European Union Market Abuse Regulation (MAR) regarding insider trading activity.
These filings are a mandatory regulatory requirement for publicly traded entities on the Warsaw Stock Exchange to ensure transparency and prevent information asymmetry.
The collective sale by the core leadership team provides updated information regarding the company's ownership structure and the personal investment positions of its strategic decision-makers.
Executive management at 11 bit studios S.A. executed a series of share disposals on February 20, 2024, as disclosed in accordance with European Union Market Abuse Regulation requirements. The transactions involved three key figures within the company’s leadership hierarchy: President of the Management Board Przemysław Marszał, and Management Board Members Michał Drozdowski and Paweł Feldman. These divestments represent a formal notification of trading activity by persons discharging managerial responsibilities within the Polish game development and publishing sector.
The scope of the disclosure is limited to the specific transactions occurring on the date of the report and pertains exclusively to the equity holdings of these high-level executives. While the summary notification confirms the receipt of these declarations by the company, it serves as a regulatory compliance mechanism to ensure transparency regarding the financial interests and market activities of the firm's primary decision-makers. Such filings are standard procedure for publicly traded entities on the Warsaw Stock Exchange to prevent information asymmetry and maintain market integrity.
The methodology for this disclosure follows the legal framework established by Article 19 of the MAR, which mandates the reporting of transactions exceeding specific thresholds by insiders. The data confirms that the core leadership team of 11 bit studios, known for titles such as Frostpunk and This War of Mine, reduced their individual stakes in the company simultaneously. This collective action by the President and two Board Members provides the market with updated information regarding the ownership structure and the personal investment positions of the company’s strategic leadership during the first quarter of 2024.
