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PCF Group S.A. has officially rescheduled the publication date for its 2023 consolidated and standalone annual financial reports. Originally slated for release on April 25, 2024, the disclosure is now set for April 29, 2024. This adjustment follows the company’s initial announcement regarding reporting timelines issued earlier in January 2024.

The decision to delay the filing by four days is executed in accordance with the regulatory requirements set forth by the Polish Minister of Finance concerning the periodic information provided by securities issuers. This procedural update ensures compliance with legal obligations governing the transparency and timing of financial disclosures for publicly traded entities operating within the Polish capital market.

By finalizing these reports by the end of April, the company maintains its commitment to providing stakeholders with audited financial data for the 2023 fiscal year. This shift represents a minor administrative adjustment to the corporate calendar, ensuring that all necessary documentation is prepared and verified before public dissemination to investors and market regulators.

PCF Group S.A. has formally initiated a comprehensive review of strategic options to evaluate potential pathways for supporting the long-term development of the company and its capital group. This process is designed to identify and assess various opportunities that could enhance the organization’s growth trajectory, including the potential acquisition of a financial or strategic investor. Furthermore, the review encompasses the possibility of executing corporate transactions that might result in structural changes to the company’s shareholding or capital base.

The scope of this initiative involves active engagement and preliminary discussions with various external entities to explore potential partnerships or investment scenarios. While the company intends to provide selected parties with necessary information to facilitate these evaluations, the process remains in its preliminary stages. No specific outcomes, timelines, or definitive decisions have been established, and the company emphasizes that there is no guarantee that any particular strategic action will be finalized as a result of this review.

Throughout the duration of this assessment, the group remains committed to its existing operational strategy and will continue to execute its current business objectives. Management intends to maintain transparency by disclosing further developments in accordance with regulatory requirements as the situation evolves. This strategic review reflects a proactive approach to capital management and corporate development within the gaming industry, aimed at securing the most advantageous future for the group’s stakeholders.

PCF Group S.A. has officially terminated development of Project Red, a title previously intended for either external publishing or self-publishing. This strategic decision stems from the company’s inability to secure an external publishing partner and a lack of sufficient capital to sustain self-publishing efforts. Furthermore, the company has prioritized the allocation of its development resources toward a newly acquired project, designated as Project Echo, which necessitates the transfer of the team previously assigned to Project Red.

The cancellation of Project Red carries significant financial implications for the company’s 2024 fiscal reporting. As of June 30, 2024, the company will record a 100% impairment charge on all capitalized expenditures related to the project. This accounting action will result in an estimated reduction of 8.85 million PLN in the company’s standalone financial results and fixed assets, while the consolidated financial results and fixed assets for the group will decrease by approximately 7.72 million PLN.

These adjustments are classified as one-time, non-cash events and will not impact the company’s EBITDA. While these figures represent the current assessment of the financial impact, they remain subject to final auditor review and may be adjusted in the upcoming semi-annual financial statements. This shift in development focus reflects a broader realignment of the company’s portfolio, prioritizing projects with secured external funding over those requiring internal capital investment.

People Can Fly Group has updated its long-term strategic framework, maintaining core objectives while adjusting project timelines and financial targets for the 2024–2028 period. The company now plans to release its self-published project, Bison, in 2025, followed by early access launches for projects Bifrost and Victoria in 2026. To support these operations, the company aims to maintain a workforce of approximately 370 full-time equivalents for its work-for-hire segment through 2028.

The updated financial strategy targets at least 3.3 billion PLN in total revenue between 2024 and 2028, with a projected growth trajectory that scales from 5% of this total in 2025 to 33% by 2028. Management has suspended dividend recommendations until at least the 2026 fiscal year, contingent upon achieving positive financial results from self-publishing activities. Furthermore, the development of a previously proposed incentive program tied to 1.5 billion PLN in cumulative EBITDA has been paused pending the outcome of an ongoing strategic review.

Execution of these goals is strictly dependent on securing approximately 350 million PLN in new financing during 2025 and 2026. Should this funding not materialize, or if specific work-for-hire project conditions remain unmet, the company is evaluating alternative scenarios, including the potential transition of the Bifrost or Victoria projects into the work-for-hire model. These updates reflect a recalibration of the company’s operational roadmap as it navigates capital requirements and project development milestones.

PCF Group S.A. has formally increased the financial guarantee provided to the Bank of Montreal to support the operations of its Canadian subsidiary, People Can Fly Canada Inc. This adjustment, finalized on November 15, 2024, raises the unsecured guarantee from 9.2 million Canadian dollars to 13.154 million Canadian dollars. The action serves to align the company’s credit support with an expanded revolving credit facility intended to pre-finance future tax credits within the Canadian market.

The underlying credit facility, which functions as a demand revolving facility, has been increased from 8 million to 11.954 million Canadian dollars. This expansion necessitates a corresponding adjustment to the collateral structure previously established in May 2023. Consequently, the first-ranking hypothec over the movable property of People Can Fly Canada Inc. has been raised from 11.04 million to 15.7848 million Canadian dollars. These modifications ensure that the security interests held by the bank remain commensurate with the increased credit exposure.

The scope of these financial adjustments is limited to the Canadian operations of the PCF Group and the specific credit arrangements with the Bank of Montreal. All other material terms and conditions governing the original financing agreement remain unchanged, maintaining the existing framework for the company’s debt obligations and security protocols. This strategic increase in liquidity support reflects the company's ongoing efforts to manage cash flow effectively through the utilization of regional tax incentive programs.

PCF Group S.A. has officially rescheduled the publication date for its consolidated semi-annual report covering the first half of 2024. Originally slated for release on September 26, 2024, the disclosure is now set to occur on September 30, 2024. This adjustment serves as a formal update to the initial financial calendar established by the company in January 2024.

The scope of this reporting covers the financial performance and operational status of both the parent entity, PCF Group S.A., and its broader capital group. The decision to delay the release by four days aligns with regulatory requirements governing the disclosure of periodic information by issuers of securities. By providing this notice, the company ensures transparency regarding its corporate reporting timeline and maintains compliance with the legal framework established by the Polish Ministry of Finance.

This administrative update does not alter the underlying financial data or the scope of the upcoming report, which remains focused on the first six months of the 2024 fiscal year. The company continues to operate under the standard regulatory obligations for publicly traded entities, ensuring that stakeholders are informed of any deviations from previously announced schedules. The final publication on September 30 will provide the definitive assessment of the group's financial position for the specified period.

People Can Fly Group has officially concluded its strategic options review process, initiated in August 2024, without securing the necessary capital to sustain its current operational trajectory. The company failed to obtain approximately 350 million PLN in external financing, a sum deemed essential for maintaining the existing scale of its self-publishing game development projects. Consequently, the organization is unable to execute its previously established corporate strategy in its current form.

To address the resulting financial constraints and ensure liquidity, the management board is shifting its focus toward stabilizing cash flows. The primary objective is to align capital expenditures within the self-publishing segment with the revenue generated from the company’s work-for-hire production services. By balancing these two business segments, the firm aims to achieve a sustainable financial equilibrium.

This strategic pivot marks a significant contraction in the company's growth ambitions, moving away from aggressive self-funded expansion toward a more conservative, revenue-dependent model. The company has committed to providing further updates as it implements specific measures to restructure its operations and restore financial stability. Future disclosures will detail the concrete steps taken to align the group’s cost structure with its incoming cash flows from external development contracts.

The company has established its formal schedule for the disclosure of periodic financial reports throughout the 2025 fiscal year. This disclosure strategy aligns with regulatory requirements governing public entities, ensuring transparency for shareholders and market participants regarding the timing of financial performance updates. The primary focus of the reporting cycle centers on the publication of the semi-annual report for the first half of 2025, which will incorporate the condensed semi-annual financial statements as mandated by current financial reporting regulations.

Strategic adjustments to the reporting calendar include the decision to forgo the publication of individual and consolidated quarterly reports for the fourth quarter of 2024. Furthermore, the company will not issue consolidated quarterly reports for the second and fourth quarters of 2025. These omissions are executed in accordance with specific regulatory provisions that permit companies to opt out of certain interim reporting obligations, provided they meet the criteria for consolidated financial oversight.

This reporting framework applies exclusively to the company’s financial disclosures for the 2025 calendar year. By streamlining the frequency of its interim updates, the organization aims to optimize its administrative resources while maintaining compliance with the regulatory standards set forth by the relevant financial oversight authorities. The schedule reflects a deliberate approach to financial communication, prioritizing semi-annual reporting cycles over select quarterly intervals to satisfy statutory obligations while managing the scope of public financial disclosures.

PCF Group S.A. has officially suspended all development and publishing activities related to Project Victoria, a title previously slated for an early access release in 2026. This decision follows the conclusion of a strategic review and stems directly from the company’s inability to secure the necessary capital to fund the project’s continued production and self-publishing requirements. The suspension is indefinite, as the company continues to seek external financing options that could potentially facilitate a future resumption of the project.

The operational impact of this decision involves significant workforce restructuring within the dedicated development team. A portion of the staff will be placed on temporary layoff, a status that maintains the employment relationship for a legally defined period without the requirement for work or compensation, while the remainder of the team faces permanent redundancy. Furthermore, the established production and publishing schedule for the title has been formally abandoned.

From a financial perspective, the company has identified the suspension as a trigger for potential impairment of capitalized development costs. In accordance with International Accounting Standard 36, management will conduct formal impairment testing based on financial data as of December 31, 2024. The results of these tests will be incorporated into the company’s annual financial statements for 2024. Future decisions regarding the project, including the possibility of permanent cancellation or eventual reactivation, remain contingent upon the success of ongoing efforts to secure adequate funding.

PCF Group S.A. has officially disclosed the commencement of negotiations with Sony Interactive Entertainment LLC regarding a Prototype Development Agreement for a new video game project, codenamed Project Delta. This disclosure follows the formal execution of the agreement on March 13, 2025. The partnership is structured under a work-for-hire model, wherein the developer will produce a prototype based on intellectual property owned by the publisher in exchange for milestone-based compensation.

The company initially delayed the public announcement of these negotiations on February 6, 2025, citing regulatory provisions under the Market Abuse Regulation. Management determined that immediate disclosure at that time posed a risk to the company’s legitimate interests, specifically regarding potential interference from competitors during the negotiation phase. Furthermore, the uncertainty surrounding the final outcome of the talks necessitated a delay to prevent market misinformation and potential volatility in the company’s valuation.

This strategic move aligns with the company’s broader corporate strategy, updated in early 2023, which prioritizes securing work-for-hire collaborations with reputable industry partners. While the agreement follows standard industry practices for prototype development, the company emphasizes that the initiation of these negotiations did not guarantee a successful final contract at the time of the initial decision. The company maintained strict confidentiality protocols throughout the delay period, including the active monitoring of insider lists to ensure regulatory compliance. Future updates regarding the finalization of the project will be provided in subsequent disclosures.

PCF Group S.A. has formalized an amendment to its existing investment agreement with Krafton Inc. and company CEO Sebastian Wojciechowski, effective April 23, 2025. This legal update modifies the strategic partnership established in March 2023, specifically altering the contractual obligations regarding the future commercialization of two internal development initiatives, Project Victoria and Project Bifrost.

The primary outcome of this amendment is the waiver of specific preferential rights previously granted to Krafton Inc. Under the original terms, the investor held a right of first negotiation and a right of first refusal concerning any third-party publishing agreements for these two projects. By relinquishing these rights, the company gains greater flexibility to pursue alternative publishing models, including potential partnerships outside of the self-publishing framework, without being bound by the investor’s prior veto or negotiation priority.

This adjustment applies exclusively to the governance and commercialization rights of the specified projects within the company’s current development pipeline. All other terms and conditions stipulated in the original 2023 investment agreement remain in full force and effect. This development reflects a strategic shift in the company’s operational autonomy regarding its intellectual property, allowing for broader market engagement as these projects progress toward potential release.

PCF Group S.A. has initiated significant asset impairment charges for the 2024 fiscal year, reflecting a strategic reassessment of its development portfolio and subsidiary investments. These non-cash adjustments, which do not impact the company’s EBITDA, are designed to align the balance sheet with current financial realities as of December 31, 2024. The primary driver for these actions is the need to account for diminished asset valuations and funding uncertainties identified during the preparation of the annual financial statements.

The most substantial impact stems from the Bifrost project, where a 100% impairment of capitalized development costs has been recorded. This decision follows an analysis indicating that the company cannot currently guarantee the necessary financing for the project’s continued production and eventual release. Consequently, the company will reduce its standalone financial results and fixed assets by 213,493 thousand PLN, and its consolidated results and assets by 154,964 thousand PLN. Despite this accounting measure, development work on Bifrost remains ongoing, and the company retains the possibility of reversing the impairment should future funding circumstances improve.

Additionally, the company has addressed its investment in the subsidiary Incuvo S.A. due to a significant decline in the fair value of its shareholding. This includes a 73% impairment of the investment value, reducing standalone assets by 18,893 thousand PLN, and a 100% impairment of the goodwill allocated to Incuvo, which lowers consolidated assets by 18,061 thousand PLN. While the investment impairment is potentially reversible, the goodwill write-down is permanent. These figures remain subject to final audit verification and may be adjusted before the publication of the official 2024 financial statements.

PCF Group S.A. has officially suspended development work on Project Gemini, a title previously produced under a work-for-hire agreement with Square Enix Limited. This decision, effective June 1, 2025, follows the expiration of the existing content rider and the absence of a subsequent agreement to cover future production milestones. The cessation of operations stems from a lack of communication from the publisher regarding the project's status, creating significant uncertainty surrounding the publisher's intent to finalize the game.

The scope of this development halt covers the European operations of the PCF Group, specifically impacting the contractual relationship established under the original production and publishing agreement. Given the publisher's failure to provide terms for continued development or clear guidance on the project's future, the management board currently views the prospect of ongoing collaboration on Project Gemini as highly doubtful.

This strategic shift marks a definitive pause in the studio's involvement with the project as of mid-2025. The company has indicated that it will provide further updates as the situation evolves and more information regarding the status of the collaboration becomes available. The decision reflects the inherent risks associated with work-for-hire models when contractual renewals and publisher alignment are not secured in a timely manner.

PCF Group S.A. has officially rescheduled the publication date for its consolidated and standalone annual reports for the 2024 fiscal year. The company, a prominent entity within the video game development sector, will now release these financial documents on April 29, 2025. This adjustment follows a previous announcement made on April 15, 2025, which had initially set the disclosure date for April 28, 2025.

The decision to modify the reporting timeline is executed in accordance with the regulatory requirements set forth by the Polish Minister of Finance regarding the disclosure of periodic information by securities issuers. By shifting the deadline by one day, the company ensures compliance with legal obligations governing transparency and financial reporting for publicly traded entities. This procedural update serves to finalize the schedule for the release of the group’s comprehensive financial performance data for the preceding year.

The scope of this disclosure encompasses the entirety of the PCF Group S.A. capital group, reflecting the organization's commitment to providing stakeholders with accurate and timely financial insights. No further changes to the reporting schedule have been indicated, and the revised date of April 29, 2025, remains the definitive deadline for the dissemination of the 2024 annual results. This administrative update ensures that investors and market participants are correctly informed of the updated timeline for evaluating the company's fiscal health and operational outcomes.

PCF Group S.A. has officially suspended all development work on the self-published project Bifrost. This strategic decision follows a series of recent organizational adjustments, including the prior reduction of the project’s development team and the impairment of associated assets. The move marks a significant shift in the company’s operational focus as it navigates current financial constraints and resource allocation challenges.

The primary catalyst for this suspension is the failure to secure a new execution agreement for the Gemini project, which was being developed in Europe under a work-for-hire model for Square Enix Limited. A subsequent internal analysis of the company’s cash flow revealed that the loss of this partnership rendered the continued self-funding and production of Bifrost financially unviable. Consequently, the company lacks the necessary organizational resources and capital to sustain the project’s development and eventual market release.

This decision reflects a broader restructuring effort within the company, occurring in tandem with the concurrent halt of development on the Gemini project. By suspending Bifrost, the organization aims to mitigate further financial risk in light of its updated liquidity projections. Management intends to provide further updates regarding the implications of this decision and the company’s future strategic direction through subsequent regulatory disclosures.

PCF Group S.A. has initiated a workforce reduction affecting over 60 employees previously assigned to the development of Project Gemini. This decision follows the formal suspension of all development activities related to the title, which was being produced in Europe under a work-for-hire agreement with Square Enix Limited. The restructuring is a direct consequence of the publisher’s failure to provide a subsequent executive agreement, rendering the future of the collaboration and the project’s continuation untenable.

The termination of the development team marks a significant shift in the company’s operational strategy regarding this specific partnership. By failing to secure a follow-up contract, the company faced critical uncertainty regarding the project's viability, necessitating the immediate downsizing of the dedicated staff. This action reflects the inherent risks associated with the work-for-hire business model, where project continuity is heavily dependent on the publisher’s commitment to ongoing executive agreements.

Management maintains that the current status of Project Gemini remains uncertain, and no further development work is scheduled at this time. Future updates regarding the project’s status or potential changes to the company’s relationship with the publisher will be disclosed as they arise. This reduction represents a definitive step in mitigating the financial and operational impact caused by the cessation of work on the project.

PCF Group S.A. has initiated a significant workforce reduction following the recent suspension of development on Project Bifrost. This strategic decision marks a shift in the company’s internal resource allocation, as the project was previously being developed under a self-publishing model funded entirely by the company’s own capital. The move reflects a broader effort to streamline operations and mitigate financial exposure associated with the project’s cessation.

The restructuring impacts over 50 employees who were directly involved in the development of Project Bifrost. To retain institutional knowledge and maintain operational continuity, the company has extended offers to the remaining staff members to transition into roles within other active projects currently under development by the group. This approach aims to preserve human capital while pivoting resources toward more viable production pipelines.

These actions represent a definitive step in the company’s management of its current portfolio. By reassigning personnel and reducing the headcount associated with the halted project, the organization is adjusting its cost structure to align with its updated strategic priorities. Future updates regarding the status of Project Bifrost will be disclosed as they arise, ensuring transparency regarding the company’s ongoing development activities and organizational adjustments.

PCF Group S.A. has formally announced the successful execution of agreements with investors regarding the subscription of 6,670,000 new series H ordinary bearer shares. This issuance follows a series of previous corporate communications issued in August 2025. The company confirms that the required monetary contributions for the full coverage of these newly issued shares have been received in their entirety.

The primary purpose of this disclosure is to fulfill regulatory obligations under the Market Abuse Regulation and Polish public offering laws. The issuance is restricted to qualified investors within the European Economic Area and specific categories of professional investors in the United Kingdom. The company explicitly states that this information does not constitute a public offering, advertisement, or promotional material for the new shares in any jurisdiction.

The scope of this transaction is limited to non-U.S. jurisdictions, adhering to Regulation S under the U.S. Securities Act of 1933. The shares have not been registered with the U.S. Securities and Exchange Commission or any other international regulatory body, and the company does not intend to register them. Consequently, the distribution of this information is strictly prohibited in the United States, Australia, Canada, Japan, South Africa, and any other region where such distribution would be unlawful. The company emphasizes that no prospectus is required for this issuance, and investors are expected to conduct their own independent analysis before making any investment decisions.

NINIEJSZY DOKUMENT NIE JEST PRZEZNACZONY DO DYSTRYBUCJI, BEZPOŚREDNIO CZY POŚREDNIO, NA TERYTORIUM ALBO DO STANÓW ZJEDNOCZONYCH AMERYKI, AUSTRALII, KANADY LUB JAPONII ANI INNYCH KRAJÓW, GDZIE PUBLIKACJA, OGŁOSZENIE, DYSTRYBUCJA LUB PRZESŁANIE BYŁOBY NIEZGODNE Z PRAWEM. NINIEJSZY DOKUMENT NIE STANOWI OFERTY PAPIERÓW WARTOŚCIOWYCH W JAKIEJKOLWIEK JURYSDYKCJI. PROSIMY O ZAPOZNANIE SIĘ Z ZASTRZEŻENIAMI PRAWNYMI ZAMIESZCZONYMI NA KOŃCU NINIEJSZEGO DOKUMENTU.

PCF Group S.A., based in Warsaw, has formally determined the parameters for its Series H share issuance following the conclusion of a book-building process on August 11, 2025. The company will offer a total of 6,670,000 new ordinary bearer shares to investors. The issue price for these shares has been set at 3.00 PLN per share, a rate that will apply uniformly to all participating investors.

This issuance is being conducted as a private subscription under the Polish Commercial Companies Code, utilizing the company’s authorized capital. The offering is structured as a public offering that is exempt from the requirement to publish a prospectus or other formal information documents, in accordance with the European Union’s Prospectus Regulation. The decision to proceed with this capital increase, with the exclusion of existing shareholders' pre-emptive rights, was made with the approval of the company's Supervisory Board and follows authorization granted by the Ordinary General Meeting of Shareholders on June 23, 2025.

The offering is strictly limited to qualified investors and specific eligible parties in jurisdictions where such an offer is legally permissible. The company has explicitly restricted the distribution of information regarding this issuance in the United States, Australia, Canada, Japan, South Africa, and other regions where such actions would violate local securities laws. The shares have not been registered under the U.S. Securities Act of 1933 and are not intended for public offering outside of Poland. The company maintains that this disclosure is for informational purposes only and does not constitute a recommendation or solicitation to purchase securities.