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Skonsolidowany Raport Półroczny: H1 2024

WARSZAWA | 30 WRZENIA 2024 ROKU PEOPLE ZA 0KRES 01.01.2024 - 30.06.2024 Grupa Kapitałowa PCF Group Spółka Akcyjna WYBRANE DANE W PRZELICZENIU NA EUR PLN EUR 30.06.2024 r. 31.12.2023 r. 30.06.2024 r. 31.12.2023 r.

market-analysis investment europe+2

PCF Group

Report

Annual Separate Financial Statement 2021: Poland

AL. SOLIDARNOCI 171 TEL +48 22 887 34 30 – wybrane dane w przeliczeniu na EUR PLN EUR od 01.01 do od 01.01 do od 01.01 do od 01.01 do 31.12.2021 r. 31.12.2020 r. 31.12.2021 r. 31.12.2020 r.

investment europe

PCF Group

Report

Raport Bieżący Nr 15/2025: Podjęcie Decyzji o Redukcji Zespołu Deweloperskiego Projektu Gemini

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.

game-development employment investment+1

PCF Group

Report

Current Report No. 10/2025: Change of Date for the Provision of Annual Reports for 2024

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.

investment europe

PCF Group

Report

Raport Bieżący Nr 18/2025: Podjęcie Decyzji o Redukcji Zespołu Deweloperskiego Projektu Bifrost

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.

game-development employment investment+1

PCF Group

Report

Zawiadomienie w trybie art. 19 ust. 1 rozporządzenia MAR: RB 22/2024

The notice, filed under Article 19(1) of the MAR regulation, reports that on 30 September 2024 a supervisory board member, Marcin Kuciapski, submitted information to 11 bit studios S.A. regarding the acquisition of shares in the company. The notification is attached to the report, and the board confirms receipt of the filing. 11 bit studios S.A.’s management, led by President Przemysław Marszał and board member Grzegorz Miechowski, acknowledges the submission. The communication serves to inform shareholders and regulators of a transaction involving an insider, in compliance with MAR’s disclosure requirements for transactions by persons exercising managerial duties. No further details on the transaction size, price, or number of shares are provided in the excerpt; only that the notice was received and recorded. The scope is limited to a single transaction by a supervisory board member within the Polish jurisdiction, covering the period up to 30 September 2024. The methodology is straightforward: a formal MAR‑19 notification filed by the insider, with the company’s board acknowledging receipt. The report fulfills regulatory obligations without offering additional analytical commentary or market impact assessment.

investment europe

11 bit studios

Report

Shareholders Holding 5% or More of Total Voting Rights: June 2025

The report lists shareholders who held at least five percent of the total voting rights in 11 bit studios S.A. during its Annual General Meeting on June 12, 2025. The disclosure follows Article 70.3 of the Public Offering Act and identifies four major shareholders, detailing their share counts, voting rights, and proportional representation both at the meeting and across the company’s total voting base. Grzegorz Miechowski leads with 168,413 shares and an equal number of voting rights, accounting for 28.98 % of the meeting’s votes and 6.97 % of all voting rights issued by the company. Nationale‑Nederlanden PTE follows with 124,949 shares, representing 21.50 % of the meeting’s votes and 5.17 % of total rights. Przemysław Marszał holds 120,003 shares, contributing 20.65 % of the meeting’s votes and 4.96 % of total rights, while Michał Drozdowski owns 98,844 shares, equating to 17.01 % of the meeting’s votes and 4.09 % of total rights. The report confirms that these four individuals collectively control a significant portion of the company’s voting power, with Miechowski and Marszał also serving on the Management Board. The disclosure provides a clear snapshot of shareholder influence at the 2025 annual meeting, illustrating how concentrated ownership can shape corporate governance decisions.

investment europe

11 bit studios

Report

Zawiadomienie w trybie art. 19 ust. 1 rozporządzenia MAR: RB 26/2024

The notification, issued under Article 19(1) of the MAR regulation, informs that on 17 December 2024 a filing was received by 11 bit studios S.A. from the Miechowski Family Foundation, a related entity of Grzegorz Miechowski, who serves as a board member and president of the foundation. The filing concerns the acquisition of shares in 11 bit studios S.A. by the foundation, indicating a potential conflict‑of‑interest transaction that must be disclosed to market participants. The report includes the full text of the notification as an attachment and confirms that the company’s board has received it. The board members named in the communication are Przemysław Marszał, President of the Board, and Michał Drozdowski, a board member. No further details on the number of shares acquired or the transaction value are provided in the summary, but the filing itself is referenced for full disclosure. The notice serves to comply with MAR’s transparency requirements, ensuring that any transaction involving a person in a managerial role is promptly reported to regulators and investors. The scope of the disclosure is limited to the Polish market, covering a single transaction involving a board member’s affiliated entity during the specified date. The methodology is straightforward: receipt of a formal MAR‑compliant notification, verification by the board, and public disclosure in accordance with regulatory obligations.

investment europe

11 bit studios

Report

RB 6/2024: Zawiadomienie w Trybie Art. 19 Ust. 1 Rozporządzenia MAR

The notice, issued under Article 19(1) of the MAR regulation, informs shareholders that on 22 February 2024 Marcin Kuciapski, a member of the supervisory board of 11 bit studios S.A., submitted a disclosure regarding his acquisition of shares in the company. The notification was received by the board on the same day and is attached to this communication for reference. The report identifies the legal basis as Article 19(3) MAR, which requires disclosure of transactions by individuals exercising managerial duties. The board composition is listed: Przemysław Marszał serves as Chairman of the Board, and Grzegorz Miechowski is a board member. No further details on the transaction size or share quantity are provided within the summary, and no additional data points or statistical analysis are included. The scope is limited to a single transaction involving a supervisory board member, covering the Polish market and the period up to 22 February 2024. The methodology is straightforward: a regulatory filing submitted by the individual, reviewed and reported by the board. No broader industry or geographic implications are discussed beyond compliance with MAR disclosure requirements.

investment europe

11 bit studios

Report

Current Report No. 24/2025: Determination of the Number and Issue Price of Series H Shares

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.

investment funding europe

PCF Group

Report

Zakończenie subskrypcji akcji serii D

The report announces the completion of a private subscription offering 387,714 ordinary shares of Series D by PCF Group S.A., a Warsaw‑based company. The subscription was directed solely to Fiducie Familiale Samuel Girardin 2020, a trust established in Montreal for Samuel Girardin and related parties. The transaction was authorized by the company’s Extraordinary General Meeting on 24 May 2021 and finalized with a subscription agreement dated 31 May 2021. Each Series D share carried a nominal value of PLN 0.02 and was issued at an emission price of PLN 75.75, resulting in a total subscription value of PLN 29,369,335.50. The offering was conducted as a private placement under Polish company law (art. 431 §2(1) of the 2000 Companies Act), with no public solicitation or multiple tranches. Consequently, there were no subscription records, no allocation reductions, and the sole investor received all shares. The shares were paid for in cash; no sub‑emission arrangements or additional costs were disclosed at the time of reporting. Detailed cost breakdowns and average per‑share expenses are pending final invoicing and will be disclosed in a separate subsequent report. The transaction represents a capital increase for PCF Group, with the Series D shares intended to be listed on the Warsaw Stock Exchange and dematerialised in a securities depository, pending regulatory approval.

investment funding ipo+1

PCF Group

Report

Current Report No. 23/2025: Commencement of Book Building Process

PCF Group S.A., a Warsaw-based entity, has officially initiated a book-building process for the issuance of up to 6,670,000 Series H ordinary bearer shares. The primary objective of this capital raise is to secure approximately 20 million PLN to stabilize the company’s short-term financial liquidity and provide necessary working capital. These funds are intended to support the ongoing execution of contracts within the company’s work-for-hire business model, facilitating a predictable and orderly scaling of operations while maintaining cost discipline to restore operational profitability. The offering process is being conducted in accordance with resolutions adopted by the company’s management board on August 6, 2025, with Trigon Dom Maklerski S.A. and Trigon Investment Banking serving as the lead entities for the subscription. To support the offering, the company has established July 31, 2025, as the preference date for existing shareholders. Additionally, Sebastian Wojciechowski, the company’s President and a significant shareholder, has declared an intention to participate in the book-building process and subsequent offering, committing to acquire Series H shares for up to 5 million PLN, provided his allocation does not exceed 50% of the total shares issued in this offering. The scope of this offering is restricted to jurisdictions where such activity is legally permissible, specifically excluding the United States, Australia, Canada, Japan, and South Africa. The shares are being offered exclusively to qualified investors in compliance with relevant European Union and local regulations, and no prospectus is required for this issuance. The company remains subject to existing lock-up agreements regarding its shares, which extend through December 31, 2027, with specific provisions for future long-term incentive programs involving call options.

investment funding ipo+1

PCF Group

Report

Raport Bieżący Nr 8/2022: Zmiana Daty Przekazania Raportów Rocznych za 2021

The current report announces a revised deadline for the publication of PCF Group S.A.’s consolidated and individual annual reports for 2021. The change follows an earlier communication (current report no. 2/2022) that had set the release date for 20 April 2022. The board now confirms that both reports will be published on 21 April 2022, shifting the deadline by one day. This adjustment is made under § 80(2) of the Minister of Finance regulation dated 29 March 2018, which governs ongoing and periodic disclosures required from issuers of securities. The notice is dated 14 April 2022 and serves to inform stakeholders, investors, and regulatory bodies of the new publication schedule. No additional data, statistics, or broader industry context are provided; the scope is limited to the timing of the PCF Group’s annual reporting for the 2021 fiscal year. The methodology is simply a procedural update issued by the company’s management board, with no survey or external data sources referenced.

investment europe

PCF Group

Report

Raport Bieżący Nr 32/2025: Zakończenie Subskrypcji Nowych Akcji Zwykłych na Okaziciela Serii H Spółki

PCF Group S.A. has formally concluded the private subscription of 6,670,000 new series H ordinary bearer shares. The primary purpose of this announcement is to confirm the successful completion of the issuance process, which was conducted as a private subscription under the Polish Commercial Companies Code. The total value of the offering reached 20,010,000 PLN, with each share issued at a price of 3.00 PLN. The subscription process involved a book-building phase held between August 6 and August 11, 2025, with all subscription agreements finalized by August 14, 2025. The shares were fully covered by cash contributions from 16 investors. Because the issuance was fully subscribed through these agreements, no formal allocation process or reduction in the number of shares was necessary. The company has noted that final costs associated with the offering are currently being reconciled and will be disclosed in a subsequent report once verified by the involved parties. This transaction was restricted to qualified investors and was not subject to a public prospectus requirement under European Union regulations. The offering was limited to specific jurisdictions, explicitly excluding the United States, Australia, Canada, Japan, and South Africa, in compliance with international securities laws. The company maintains that this disclosure is for informational purposes only and does not constitute a recommendation or a public offer of securities in any jurisdiction where such action would be unlawful.

investment funding ipo+1

PCF Group

Report

Wyznaczenie daty premiery gry Bulletstorm VR

The report announces the official release date for the virtual‑reality title “Bulletstorm VR,” previously known by its code name “Thunder.” The announcement, issued by the board of PCF Group S.A. on 22 August 2023, confirms that the game will launch on 14 December 2023. Distribution channels include the META Oculus Store, Sony PlayStation Store, and Steam, ensuring multi‑platform availability across major VR ecosystems. The release decision follows a prior interim report dated 13 December 2021, indicating that the company has maintained a consistent communication cadence regarding its VR portfolio. The document cites Article 17(1) of the MAR Regulation as the legal basis for the disclosure, underscoring compliance with regulatory reporting requirements. No additional data on sales projections, target demographics, or regional rollout specifics are provided; the focus remains strictly on the release date and platform distribution. The concise nature of the communication suggests that the primary objective is to inform stakeholders, regulators, and potential consumers of the finalized launch schedule. The report’s brevity and formal tone reflect standard corporate disclosure practices for product release announcements within the gaming industry.

game-publishing game-development vr+4

PCF Group

Report

Podsumowanie kosztów subskrypcji akcji serii H

PCF Group S.A. has finalized the accounting for costs associated with the issuance of 6,670,000 series H ordinary bearer shares. The primary objective of this disclosure is to provide transparency regarding the financial expenditures incurred during the subscription process, ensuring compliance with regulatory requirements for public companies listed on the Warsaw Stock Exchange. The total cost of the series H share issuance amounted to 265,800.00 PLN. These expenses were exclusively related to the preparation and execution of the offer, as the company did not utilize sub-underwriters, nor was a prospectus required for this specific offering. The breakdown of these costs includes 135,390.00 PLN for legal services, 115,410.00 PLN for transactional advisory services, and 15,000.00 PLN for registration and admission fees with the Central Securities Depository of Poland and the Warsaw Stock Exchange. The average cost per unit for the subscription of series H shares is approximately 0.04 PLN. In terms of financial reporting, the company has accounted for these issuance costs by reducing the reserve capital derived from the surplus of the issue price over the nominal value of the shares. This summary reflects the final financial impact of the capital increase as of October 2025, confirming that no promotional or additional sub-underwriting costs were incurred during the transaction.

investment funding europe

PCF Group

Report

Raport Bieżący Nr 58/2023: Podjęcie Strategicznych Rozmów na Temat Projektu Gemini

The report announces that PCF Group S.A.’s board has entered strategic discussions with long‑time publisher Square Enix Limited regarding the shape of the “Project Gemini” game and the terms of cooperation for a hire‑model project to be developed in Europe. Current work on Project Gemini continues under the existing contractual framework, but board members assess a high probability that future execution of the project will not follow the present commercial terms. The negotiations have yet to determine a definitive direction or scope for potential changes in collaboration. Simultaneously, the board is conducting an impact analysis of various scenarios emerging from these talks on the Group’s development plans, aligned with the updated strategy released in the January 2023 current report. Findings on the outcomes of the Project Gemini discussions and any subsequent adjustments to development plans will be communicated in separate future current reports. The document serves as a status update on ongoing negotiations and internal strategic assessment, with no quantitative data or statistical findings presented.

game-development game-publishing europe

PCF Group

Skonsolidowany Raport Półroczny: H1 2024

Annual Separate Financial Statement 2021: Poland

Raport Bieżący Nr 15/2025: Podjęcie Decyzji o Redukcji Zespołu Deweloperskiego Projektu Gemini

Current Report No. 10/2025: Change of Date for the Provision of Annual Reports for 2024

Raport Bieżący Nr 18/2025: Podjęcie Decyzji o Redukcji Zespołu Deweloperskiego Projektu Bifrost

Zawiadomienie w trybie art. 19 ust. 1 rozporządzenia MAR: RB 22/2024

Shareholders Holding 5% or More of Total Voting Rights: June 2025

Zawiadomienie w trybie art. 19 ust. 1 rozporządzenia MAR: RB 26/2024

RB 6/2024: Zawiadomienie w Trybie Art. 19 Ust. 1 Rozporządzenia MAR

Raport Roczny 2020: 11 bit studios S.A.

Current Report No. 24/2025: Determination of the Number and Issue Price of Series H Shares

Annual Report 2015: Financial Statement

Zakończenie subskrypcji akcji serii D

Current Report No. 23/2025: Commencement of Book Building Process

Raport Bieżący Nr 8/2022: Zmiana Daty Przekazania Raportów Rocznych za 2021

Raport Bieżący Nr 32/2025: Zakończenie Subskrypcji Nowych Akcji Zwykłych na Okaziciela Serii H Spółki

Wyznaczenie daty premiery gry Bulletstorm VR

Śródroczne skonsolidowane sprawozdanie: Q3 2021

Podsumowanie kosztów subskrypcji akcji serii H

Raport Bieżący Nr 58/2023: Podjęcie Strategicznych Rozmów na Temat Projektu Gemini