- 01
PCF Group S.A. increased its ownership stake in Incuvo S.A. from 50.01% to approximately 62.25% through a share swap agreement finalized on January 27, 2023.
- 02
The transaction involved PCF Group issuing 136,104 new Series E shares, valued at approximately 6.28 million PLN, in exchange for 1,748,878 shares of Incuvo S.A. held by its executives.
- 03
The newly issued PCF Group shares represent roughly 0.45% of the company's total share capital and voting rights.
- 04
The share swap valuation was based on the six-month volume-weighted average price for both companies as of November 30, 2022, with Incuvo’s valuation verified by an independent auditor.
- 05
PCF Group intends to use this increased control to diversify into the virtual reality (VR) market and facilitate the transition of its existing intellectual properties into VR environments.
- 06
To ensure long-term alignment, the executives involved in the swap are subject to a lock-up agreement on their new PCF Group shares that remains in effect until the end of December 2024.