ReportPCF Group
Raport Bieżący Nr 12/2021: Ujawnienie opóźnionej informacji poufnej o utworzeniu spółki zależnej
2 pages~4 min full read
PCF Group S.A. established a new subsidiary, People Can Fly Chicago, LLC, on 6 April 2021 to facilitate the acquisition of the Phosphor Games development team.
See it on page 1The acquisition of the Phosphor Games team was finalized on 23 April 2021, following the formation of the Delaware-based subsidiary.
See it on page 1PCF Group delayed the public disclosure of the subsidiary's creation under Article 17(4) of the EU Market Abuse Regulation to protect ongoing negotiations and market value.
See it on page 1The company maintained strict confidentiality regarding the transaction by managing a monitored insider list in compliance with Article 18 of the EU Market Abuse Regulation.
See it on page 2The establishment of People Can Fly Chicago, LLC served as an intermediate strategic step rather than a guarantee of the successful acquisition of the Phosphor Games team.
See it on page 1PCF Group is required to notify the Polish Financial Supervision Authority regarding the justification for the delayed disclosure of this corporate action.
See it on page 1The report discloses a delayed confidential disclosure concerning the creation of a subsidiary, People Can Fly Chicago, LLC (PCF Chicago), under PCF Group S.A. The disclosure follows the acquisition of the Phosphor Games development team on 23 April 2021. The subsidiary was formed under Delaware law on 6 April 2021, as part of a letter‑of‑intent transaction with Phosphor Studios and Phosphor Games, intended to facilitate the acquisition of the development team. The report explains that the creation of PCF Chicago does not guarantee the successful acquisition of the team, and that the subsidiary’s establishment was an intermediate step in a broader strategy.
The delay in public disclosure, justified under Article 17(4) of the EU Market Abuse Regulation (MAR), was deemed necessary to protect the company’s legitimate interests. The board argued that premature release could have exposed ongoing negotiations, potentially harming deal terms and the company’s market value. Confidentiality was maintained through a monitored list of individuals with access, in compliance with Article 18 MAR. Upon publication, the company will notify the Polish Financial Supervision Authority of the delay and its justification.
The document covers a single corporate action within Poland’s PCF Group, involving entities in the United States and Delaware. It is a regulatory filing dated 23 April 2021, reflecting the company’s compliance with EU market‑abuse rules and its strategic acquisition activities in the gaming sector.
