LegalPlayWay
Current Report No. 56/2018: Investment Agreement and Incorporation of Console Labs S.A.
29 Oct 20181 pages~1 min full read
PlayWay S.A. incorporated Console Labs S.A. in October 2018 to centralize the porting and publishing of its PC-centric titles for Xbox One and PlayStation 4.
PlayWay S.A. holds a 74% controlling stake in the new Gdańsk-based joint-stock company, having acquired 740,000 shares for a cash contribution of 174,000 PLN.
Console Labs S.A. was established with an initial share capital of 100,000 PLN, divided into one million shares with a nominal value of 0.10 PLN each.
Seven individual investors hold the remaining 26% equity in Console Labs S.A., contributing a combined total of 26,000 PLN.
The subsidiary will launch its operations by porting Ultimate Fishing Simulator, a title originally developed by Ultimate Games S.A., to serve as a proof of concept.
PlayWay S.A. has formally expanded its corporate structure through the execution of an investment agreement and the subsequent incorporation of Console Labs S.A. based in Gdańsk. Established in October 2018, this new entity is structured as a joint-stock company with an initial share capital of 100,000 PLN, divided into one million shares with a nominal value of 0.10 PLN each. PlayWay S.A. maintains a dominant position in the venture, holding a 74% stake through the acquisition of 740,000 shares for a cash contribution of 174,000 PLN. The remaining 26% of the equity is held by seven individual investors who contributed a combined 26,000 PLN.
The primary strategic objective of Console Labs S.A. is to provide specialized porting and publishing services for the PlayWay S.A. capital group. The company focuses specifically on adapting existing intellectual property for the eighth generation of home video game consoles, namely the Xbox One and PlayStation 4. This move centralizes the technical process of transitioning PC-centric titles to console ecosystems, ensuring a more streamlined pipeline for the group’s extensive portfolio.
Operational activities are slated to begin with the porting and publication of Ultimate Fishing Simulator, a title originally developed by Ultimate Games S.A. This initial project serves as the proof of concept for the new subsidiary’s role within the broader group strategy. By establishing a dedicated entity for console conversions, the parent company aims to maximize the commercial reach of its software library across multiple hardware platforms while maintaining significant equity control over the porting process.
