PlayWay S.A. and its subsidiaries, Digital Melody Games and Games Incubator, intend to acquire a combined 72.8% stake in Platynowe Inwestycje Spółka Europejska.
The acquisition structure involves PlayWay securing a 32.8% stake through a capital increase and share purchase, with designated investors acquiring an additional 40%.
As consideration for the deal, PlayWay and its subsidiaries plan to transfer ownership of specific games and trailers from their portfolios to Platynowe Inwestycje.
The transaction involves purchasing existing Series F and G shares from Patro Invest, which is currently in liquidation, alongside a subscription for new Series H shares.
The parties set a target date of January 31, 2021, to finalize the agreements, though the letter of intent is non-binding and contingent upon successful due diligence.
The deal is subject to comprehensive legal and financial review and was disclosed in compliance with market abuse regulations regarding inside information.
The management of PlayWay S.A. entered into a formal letter of intent on January 4, 2021, to initiate negotiations for the acquisition and subscription of shares in Platynowe Inwestycje Spółka Europejska. This strategic move involves PlayWay and its subsidiaries, Digital Melody Games and Games Incubator, seeking to acquire Series H shares through a capital increase while simultaneously purchasing existing Series F and G shares from Patro Invest, a company currently in liquidation. The geographic focus of this transaction is centered on the Polish market, specifically involving entities based in Warsaw and Płock.
The proposed transaction aims for PlayWay and its subsidiaries to secure a 32.8% stake in the share capital of Platynowe Inwestycje following a conditional capital increase. Furthermore, investors designated by PlayWay are expected to acquire an additional 40% stake, bringing the total combined ownership interest to 72.8%. As part of the consideration for this deal, PlayWay and its subsidiaries intend to transfer ownership of specific games and trailers from their existing portfolios to the target company.
While the parties established a target date of January 31, 2021, to finalize the sale and subscription agreements, the letter of intent does not constitute a binding obligation to complete the transaction. Final execution remains strictly contingent upon the satisfactory results of comprehensive legal and financial due diligence. This disclosure was made in accordance with market abuse regulations regarding the handling of inside information that could impact the valuation of the listed issuer.
