PCF Group S.A. has entered negotiations with Sony Interactive Entertainment LLC to develop a new video-game prototype internally coded as "Project Delta."
See it on page 1The proposed collaboration follows a work-for-hire model initiated by Sony on 3 February 2025, featuring milestone-based phases and standard industry remuneration terms.
See it on page 2PCF Group delayed the public disclosure of these negotiations from 6 February 2025 until 13 March 2025 to protect the integrity of the talks and prevent potential market volatility.
See it on page 2The company justified the delayed disclosure under Article 17 of the EU Market Abuse Regulation (MAR), citing the need to prevent competitive interference and misinterpretation of the project's status.
See it on page 3The commencement of these negotiations does not guarantee a final agreement, and the company maintains that the talks are part of its broader 2023 strategy to pursue work-for-hire partnerships.
See it on page 2PCF Group has adhered to Article 18 of the MAR by maintaining a controlled list of recipients to ensure confidentiality throughout the negotiation process.
See it on page 3The report serves to disclose a delayed insider announcement concerning PCF Group S.A.’s initiation of negotiations with Sony Interactive Entertainment LLC for a Prototype Development Agreement aimed at creating a new video‑game prototype, internally coded “Project Delta.” The disclosure, required under Article 17 of the EU Market Abuse Regulation (MAR), was postponed on 6 February 2025 and made public on 13 March 2025, reflecting the company’s assessment that immediate release could jeopardise the negotiation process and the legitimate interests of the group.
Negotiations were triggered by a proposal received from Sony on 3 February 2025, outlining a work‑for‑hire model in which PCF Group would develop the prototype in exchange for agreed remuneration, with the project divided into milestone‑based phases. The terms under discussion are described as consistent with standard production contracts for similar projects, and the company emphasizes that the commencement of talks does not guarantee a final agreement.
The board justified the delay by citing MAR provisions and guidance from the European Securities and Markets Authority, arguing that premature disclosure could expose the negotiations to competitive interference and lead to misinterpretation by the market, potentially affecting the company’s share value. Confidentiality was maintained through a controlled list of recipients in line with Article 18 MAR, and the regulator will be notified of the delayed disclosure in accordance with the regulation.
Overall, the filing confirms PCF Group’s strategic intent, expressed in its 2023 strategy update, to pursue attractive work‑for‑hire collaborations with reputable partners, while adhering to EU market‑transparency rules throughout the negotiation period.
