Legal

Raport Bieżący Nr 69/2017

29 September 20172 pages502 words

Summary

PlayWay S.A. has formalized a significant investment agreement concerning ECC Games S.A., a Warsaw-based developer, marking a strategic shift in the studio’s capital structure and future market positioning. The agreement, executed on September 29, 2017, involves a consortium of existing shareholders including PlayWay, Inovo Venture Fund, and several individual stakeholders, alongside Vestor Dom Maklerski and twenty new private investors. This transaction effectively terminates a previous investment agreement from December 2016, replacing it with a new framework for growth and public listing. The primary financial mechanism of this agreement is a capital increase for ECC Games. The company’s share capital is being raised from 1,574,000 PLN to a maximum of 1,847,760 PLN through the issuance of up to 2,737,600 new Series G ordinary bearer shares. These shares, with a nominal value of 0.10 PLN each, are being issued at a subscription price of 0.52 PLN per share. This private subscription aims to generate a total investment value of approximately 1.42 million PLN, providing the studio with fresh capital for its operations. Following the registration of this capital increase, the ownership structure of ECC Games will be redistributed. Inovo Venture Fund will hold the largest stake at 31.4%, followed closely by PlayWay S.A. at 29.4%. Individual founders and the new group of private investors will hold the remaining shares, with the new investors collectively accounting for 14.2% of the company. A critical provision of the agreement mandates that the parties take the necessary steps to debut ECC Games on the NewConnect market within five months of the capital increase being registered in the National Court Register. This move signals a clear intent to transition the studio into a publicly traded entity within the Polish gaming sector.

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