People Can Fly (PCF Group S.A.) has terminated its production and distribution agreement with Take-Two Interactive for the action RPG codenamed Project Dagger, effective September 23, 2022.

According to "Raport bieżący nr 22/2022: Zawarcie porozumienia o rozwiązaniu umowy produkcyjno-wydawniczej z Take‑Two Interactive": People Can Fly (PCF Group S.A.) has terminated its production and distribution agreement with Take-Two Interactive for the action RPG codenamed Project Dagger, effective September 23, 2022.

PCF Group has regained full intellectual property rights and control over Project Dagger, allowing the company to pursue self-publishing or seek alternative third-party partnerships.

According to "Raport bieżący nr 22/2022: Zawarcie porozumienia o rozwiązaniu umowy produkcyjno-wydawniczej z Take‑Two Interactive": PCF Group has regained full intellectual property rights and control over Project Dagger, allowing the company to pursue self-publishing or seek alternative third-party partnerships.

PCF Group is obligated to pay Take-Two a fixed sum of $20 million only upon the commercial release of the game, with no repayment required if the project is never released.

According to "Raport bieżący nr 22/2022: Zawarcie porozumienia o rozwiązaniu umowy produkcyjno-wydawniczej z Take‑Two Interactive": PCF Group is obligated to pay Take-Two a fixed sum of $20 million only upon the commercial release of the game, with no repayment required if the project is never released.

If PCF Group self-publishes the title, the $20 million debt will be settled through quarterly royalties; if a new third-party publisher is secured, the amount must be paid in two equal installments within 12 months of launch.

According to "Raport bieżący nr 22/2022: Zawarcie porozumienia o rozwiązaniu umowy produkcyjno-wydawniczej z Take‑Two Interactive": If PCF Group self-publishes the title, the $20 million debt will be settled through quarterly royalties; if a new third-party publisher is secured, the amount must be paid in two equal installments within 12 months of launch.

The agreement explicitly waives any requirement for PCF Group to immediately repay the development advances received from Take-Two during the production period.

According to "Raport bieżący nr 22/2022: Zawarcie porozumienia o rozwiązaniu umowy produkcyjno-wydawniczej z Take‑Two Interactive": The agreement explicitly waives any requirement for PCF Group to immediately repay the development advances received from Take-Two during the production period.

Take-Two declined to exercise its buyout option for the intellectual property, facilitating the full reversion of rights to the developer.

According to "Raport bieżący nr 22/2022: Zawarcie porozumienia o rozwiązaniu umowy produkcyjno-wydawniczej z Take‑Two Interactive": Take-Two declined to exercise its buyout option for the intellectual property, facilitating the full reversion of rights to the developer.

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Key Insights

Raport bieżący nr 22/2022: Zawarcie porozumienia o rozwiązaniu umowy produkcyjno-wydawniczej z Take‑Two Interactive

PCF Group~2 min full read

01
People Can Fly (PCF Group S.A.) has terminated its production and distribution agreement with Take-Two Interactive for the action RPG codenamed Project Dagger, effective September 23, 2022.
02
PCF Group has regained full intellectual property rights and control over Project Dagger, allowing the company to pursue self-publishing or seek alternative third-party partnerships.
03
PCF Group is obligated to pay Take-Two a fixed sum of $20 million only upon the commercial release of the game, with no repayment required if the project is never released.
04
If PCF Group self-publishes the title, the $20 million debt will be settled through quarterly royalties; if a new third-party publisher is secured, the amount must be paid in two equal installments within 12 months of launch.
05
The agreement explicitly waives any requirement for PCF Group to immediately repay the development advances received from Take-Two during the production period.
06
Take-Two declined to exercise its buyout option for the intellectual property, facilitating the full reversion of rights to the developer.

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