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Legal
Current Report No. 22/2023: Development and Publishing Agreement with Microsoft Corporation
PCF Group S.A., operating under the People Can Fly brand, has entered into a significant development and publishing agreement with Microsoft Corporation to produce a new AAA video game currently titled Project Maverick. This partnership, formalized on June 13, 2023, establishes a work-for-hire framework where the studio develops the title using intellectual property owned by Microsoft. The agreement aligns with the studio’s updated corporate strategy to pursue high-value collaborative opportunities with major industry publishers alongside its own internal projects. The financial scope of the project is substantial, with Microsoft providing a total production budget ranging between $30 million and $50 million. Funding is structured around a milestone-based payment system, where the publisher provides capital as the studio completes specific stages of development outlined in a detailed product appendix. This arrangement ensures that the entirety of the production costs is covered by the publisher, mitigating financial risk for the developer while securing a high-budget project for its production pipeline. The scope of this agreement covers the full development cycle of the game, though specific release windows or geographic target markets are not disclosed. The terms of the contract are described as standard for the industry, containing no unusual conditions or deviations from typical AAA publishing agreements. By securing this contract, People Can Fly reinforces its position as a leading global developer capable of handling large-scale, high-budget productions for major platform holders, leveraging its technical expertise within a secure financial framework provided by one of the industry's largest entities.
PCF GroupFeb 2026
Legal
Current Report ESPI No. 2/2026: Registration of Share Capital Increase and Statute Amendments
PlayWay S.A., a prominent Polish game developer and publisher, officially registered an increase in its share capital on February 17, 2026. This corporate action, finalized by the District Court for the Capital City of Warsaw, involved raising the share capital from 660,000.00 PLN to 666,600.00 PLN. The increase was achieved through the issuance of 66,000 Series J ordinary bearer shares, each carrying a nominal value of 0.10 PLN. This issuance effectively exhausts the company's remaining authorized capital, leaving the balance of target capital at zero. The capital expansion was executed under the framework of authorized capital previously established by the Management Board in August 2025. A critical component of this issuance was the total exclusion of pre-emptive rights for existing shareholders, a move intended to facilitate the dematerialization of the new shares and streamline the capital raising process. Following this registration, the total number of shares across all series—ranging from Series A through Series J—amounts to 6,666,000, with each share corresponding to one vote at the General Meeting. Beyond the financial adjustments, the registration necessitated formal amendments to the company’s Articles of Association, specifically regarding the wording of Paragraph 6 to reflect the new capital structure. This regulatory filing serves as a formal notification to the market and relevant financial authorities, ensuring transparency regarding the company’s equity structure and voting rights. The action concludes a process initiated in late 2025 and solidifies the company's current financial standing within the Polish capital market.
PlayWayFeb 2026
Legal
Current Report No. 46/2025: Fulfillment of the Condition Precedent in the Agreement with Square Enix Limited
The filing announces that the conditional clause attached to the November 19 2025 agreement between PCF Group S.A., headquartered in Warsaw, and Square Enix Limited, based in London, has been satisfied. PCF’s capital group delivered the “Closing Kit” – the development assets for the Gemini project – within the stipulated deadline, and Square Enix confirmed the kit’s contents on the same day, triggering the contractual consequences outlined in the agreement. As a result, both parties are now bound to complete the final financial settlements for Gemini according to the pre‑agreed schedule. The production‑publishing contract for Gemini dated August 12 2020 has been mutually terminated, and the earlier production‑publishing contract for the Madness project dated February 16 2016 has also been dissolved by agreement. Additionally, Square Enix and PCF Group have mutually waived any further claims arising from their prior collaboration. The announcement references earlier interim reports (numbers 14/2025 and 44/2025) and cites Article 17(1) of the MAR Regulation as the legal basis. The scope is limited to the two corporate entities involved, covering contractual obligations and settlements for two specific game development projects, with all actions occurring within the European Union and United Kingdom jurisdictions during the 2025 reporting period.
PCF GroupDec 2025
Legal
Resolution No. 01/06/2025 of the Ordinary General Meeting
The Ordinary General Meeting of 11 bit studios S.A., convened on June 12, 2025, finalized the corporate and financial oversight for the 2024 fiscal year. The company reported a total net profit of 6,889,150 PLN against total assets valued at 262,302,617 PLN. Shareholders reached a consensus to strengthen the firm’s internal reserves by allocating the entirety of the 2024 net profit to supplementary capital rather than issuing dividends. This financial strategy was accompanied by the formal approval of management and supervisory board reports, signaling shareholder confidence in the company’s operational trajectory over the preceding year. Governance and leadership stability were reinforced through the election of Przemysław Marszał as Chairman and the granting of discharge to the entire executive and supervisory leadership. Key figures, including President Przemysław Marszał and board members Grzegorz Miechowski, Michał Drozdowski, Paweł Feldman, and Marek Ziemak, received formal absolution for their duties. These resolutions were passed via secret ballot with participation representing approximately 17% to 24% of the total share capital, confirming the legal discharge of responsibilities for both the Management Board and the Supervisory Board. The assembly also implemented structural updates to the company’s regulatory framework and compliance protocols. Beyond approving the 2024 Remuneration Report, shareholders repealed existing Audit Committee Regulations and delegated the creation of new guidelines to the Supervisory Board. Significant amendments to the company Statute were adopted to ensure alignment with current accounting laws. These changes specifically empower the Supervisory Board to select audit firms responsible for both traditional financial statements and increasingly critical sustainability reporting, reflecting a modernized approach to corporate transparency and regulatory adherence.
11 bit studiosJun 2025