ReportPCF Group
Current Report No. 11/2023: Disclosure of Delayed Inside Information
7 pages~16 min full read
PCF Group S.A. entered negotiations with Krafton, Inc. on 19 March 2023 regarding a potential capital increase that would grant Krafton a 10% stake in the company.
See it on page 1The proposed deal includes the potential for future collaboration between PCF Group and Krafton on specific game titles.
See it on page 1PCF Group delayed the public disclosure of these negotiations from 19 March to 28 March 2023, citing the need to protect negotiation dynamics under Article 17(4) of the MAR Regulation.
See it on page 2The transaction is not guaranteed, and the company explicitly warns of risks regarding deal completion and potential market volatility.
See it on page 7The information is restricted to qualified investors in the EU, EEA, UK, and specific US entities, and does not constitute a public offer or a prospectus.
See it on page 5The capital increase under discussion follows an extraordinary general meeting held on 28 February 2023 that authorized the issuance of new shares.
See it on page 2The report discloses that PCF Group S.A.’s board initiated negotiations on 19 March 2023 with Krafton, Inc. or its affiliated entity to acquire shares in a capital increase approved by an extraordinary general meeting on 28 February 2023. The proposed investment would grant Krafton a 10 % stake in the post‑issuance capital, and may include future collaboration on specific games. The board delayed public disclosure until 28 March to avoid adverse impacts on negotiation dynamics and potential market misinterpretation, citing MAR Regulation Article 17(4) and EU‑FCA guidance. The disclosure explains that the negotiations do not guarantee a completed transaction, and outlines risk factors such as uncertainty of deal completion and market reaction. The document is restricted to qualified investors within the EU‑EAA, UK, and certain US entities under Regulation S or Rule 144A; it contains no prospectus and is not a public offer. Methodologically, the report relies on internal board decisions and regulatory compliance checks; no external survey or statistical data are presented. The scope is limited to Poland, with implications for capital structure and potential strategic partnership in the gaming sector. The report concludes that any investment decisions must be based on independent research, as the information is not a recommendation or solicitation.
