Raport Bieżący ESPI Nr 14/2024

Key insights

6 takeaways · ~2 min read

01
PlayWay S.A. has completed the full divestment of its 53.27% majority stake in Big Cheese Studio S.A.
02
The transaction involved the sale of 2,202,736 shares at a price of 14.15 PLN per share.
03
The total value of the divestment reached approximately 31.17 million PLN.
04
Settlement of the sale on July 30, 2024, resulted in PlayWay S.A. holding zero shares in Big Cheese Studio S.A.
05
This transaction marks the end of PlayWay S.A.'s status as the parent entity and majority shareholder of the Lodz-based developer.
06
The move represents a strategic portfolio adjustment for PlayWay S.A., resulting in a significant liquidity event and the relinquishment of operational control.

Summary

PlayWay S.A. has finalized the complete divestment of its stake in Big Cheese Studio S.A., a developer listed on the Warsaw Stock Exchange. This transaction involved the sale of 2,202,736 shares, representing 53.27% of the total voting rights at the company’s General Meeting. The sale was executed at a price of 14.15 PLN per share, marking a significant shift in the ownership structure of the Lodz-based studio known for titles such as Cooking Simulator.

The settlement of this transaction results in PlayWay S.A. holding zero shares in Big Cheese Studio S.A., effectively ending its status as a parent entity or major shareholder. The total valuation of the divested shares amounts to approximately 31.17 million PLN. This move follows previous regulatory filings from late July 2024 and adheres to the disclosure requirements set forth by the Market Abuse Regulation and the Polish Act on Public Offering.

This divestment reflects a strategic portfolio adjustment by PlayWay S.A., one of Poland’s largest game publishers and incubators. By offloading its entire majority stake, the company has realized a significant liquidity event while relinquishing operational and strategic control over Big Cheese Studio. The transaction was formally settled on July 30, 2024, and the necessary notifications regarding the change in shareholding have been submitted to the relevant financial authorities and the subsidiary itself.