Legal11 bit studios
Resolution No. 01/05/2023 of the Ordinary General Meeting of 11 bit Studios S.A.
31 May 202323 pages~27 min full read
11 bit studios S.A. reported a net profit of 22,889,816 PLN and total assets of 244,197,441 PLN for the 2022 fiscal year.
The company opted to allocate its entire 2022 net profit to reserve capital, prioritizing internal reinvestment and financial liquidity over dividend distribution.
Shareholders granted formal discharge to all Management and Supervisory Board members, including President Przemysław Marszał and Chairman Radosław Marter, reflecting strong leadership confidence.
A reserve fund previously designated for employee share loans was dissolved, resulting in the transfer of 7,728,608.80 PLN into the company’s supplementary capital.
The assembly approved the 2022 Remuneration Report and implemented a new compensation cap for Supervisory Board advisors, limiting their annual pay to 50% of the previous year's total board compensation.
The Ordinary General Meeting held on May 31, 2023, achieved a quorum representing approximately 47% of the company's total share capital.
The Ordinary General Meeting of 11 bit studios S.A., held on May 31, 2023, formalizes the company’s financial and operational performance for the 2022 fiscal year. Representing approximately 47% of the total share capital, the assembly approved financial statements reporting a net profit of 22,889,816 PLN and total assets valued at 244,197,441 PLN. A primary outcome of the meeting was the decision to allocate the entirety of the 2022 net profit to the company’s reserve capital, signaling a strategic focus on internal reinvestment and financial stability.
Governance and accountability were central to the proceedings, as shareholders granted official discharge to all members of the Management and Supervisory Boards for their performance during the 2022 period. These resolutions passed with near-unanimous support through secret ballots, confirming shareholder confidence in the leadership of President Przemysław Marszał and Chairman Radosław Marter. Furthermore, the assembly reviewed and approved the 2022 Remuneration Report and established specific compensation structures for the Audit Committee, while also setting a cap on the annual pay for Supervisory Board advisors at 50% of the board's total compensation from the previous year.
Strategic financial adjustments included the dissolution of a reserve fund previously dedicated to employee share loans. This action resulted in the transfer of 7,728,608.80 PLN in unused funds to the company’s supplementary capital. These resolutions collectively reflect a period of profitable operations and a conservative approach to capital management within the Polish game development sector, ensuring that significant liquidity remains available for future corporate initiatives.
