PCF Group

These resolutions, adopted by the Supervisory Board of PCF Group S.A. on May 26, 2021, serve to formally evaluate and approve the company’s financial and operational performance for the 2020 fiscal year. The primary purpose of these documents is to provide the necessary oversight and recommendations to the Ordinary General Meeting scheduled for June 22, 2021. The scope of the resolutions covers the individual performance of PCF Group S.A. as well as the consolidated performance of its entire capital group within the Polish gaming industry.

Key financial data points highlighted in the resolutions include a reported net profit of 29.1 million PLN for the individual company and a consolidated net profit of 24.6 million PLN for the group. Total assets were valued at 91.2 million PLN on an individual basis and 95.7 million PLN on a consolidated basis as of December 31, 2020. Based on these results, the Supervisory Board approved a profit distribution plan that allocates approximately 5.6 million PLN for shareholder dividends, amounting to 0.19 PLN per share, while directing the remaining 23.5 million PLN to the company’s reserve capital.

The methodology for these approvals involved a formal review of the Management Board's reports and financial statements to ensure compliance with accounting ledgers and factual accuracy. Beyond financial metrics, the Board issued positive opinions on granting discharge to the President of the Management Board, Sebastian Wojciechowski, and adopted reports concerning the Audit Committee's activities and executive compensation for 2019 and 2020. These actions align with the Commercial Companies Code and the Best Practices of GPW Listed Companies 2016, ensuring corporate governance standards are met ahead of the annual general meeting.

The ownership structure of PCF Group S.A., the parent company of the Polish game development studio People Can Fly, was formally disclosed following the Ordinary General Meeting held on June 22, 2021. This disclosure identifies the primary stakeholders who exercised significant voting power during the proceedings, specifically those holding at least 5% of the total votes present at the meeting. The data reflects the concentration of control within the Warsaw-based company immediately following its initial public offering period, highlighting the dominance of internal leadership and founding members in the corporate decision-making process.

Sebastian Wojciechowski maintains a clear majority position within the organization, holding 14,872,022 votes. This stake represents 50.31% of the total voting rights in the company and accounted for a commanding 66.14% of the votes cast during this specific General Meeting. His position as the primary shareholder ensures centralized strategic direction for the studio, which is known for high-profile action titles and international collaborations.

The remaining significant voting blocks are held by three key individuals. Bartosz Kmita holds 2,579,910 votes, representing 8.73% of total voting rights and 11.47% of the votes at the meeting. Both Bartosz Biełuszko and Krzysztof Dolaś hold identical stakes of 1,805,936 votes each. Their respective holdings account for 6.11% of the total voting rights and 8.03% of the votes present at the assembly. Collectively, these four shareholders represent the vast majority of the voting power exercised during the session, illustrating a tightly held governance structure typical of major Polish game development firms during this growth phase.

The Ordinary General Meeting of PCF Group S.A., held on June 22, 2021, served as a formal governance session to finalize the company’s financial and operational standing for the 2020 fiscal year. Based in Warsaw, the company adhered to Polish regulatory requirements for public issuers by disclosing these resolutions to ensure transparency regarding its corporate actions. The primary focus of the assembly was the formal approval of the management board’s reports on activities and the validation of the financial statements for both the individual entity and the capital group.

Key outcomes of the meeting included the granting of discharge to members of the management and supervisory boards, confirming their fulfillment of duties during the preceding year. Financial data reviewed during the session underscored the company’s transition and performance within the global video game development sector during a period of significant growth. The shareholders also addressed the allocation of net profit, opting to strengthen the company’s internal capital reserves rather than issuing immediate dividends, thereby prioritizing long-term development and project scaling.

The scope of these resolutions covers the entirety of PCF Group’s international operations and its various development studios during the 2020 calendar year. By formalizing these administrative and financial benchmarks, the company established a stable regulatory foundation for its upcoming production cycle. The proceedings reflect a standard exercise of shareholder oversight, ensuring that the leadership’s strategic direction aligns with the legal and fiscal obligations required of a listed entity on the Warsaw Stock Exchange.

The Ordinary General Meeting of PCF Group S.A., a Warsaw-based game development studio, finalized the distribution of its net profit for the 2020 fiscal year through a formal resolution passed on June 22, 2021. The decision allocates a total of 5,616,877.28 PLN from the company's after-tax earnings to be distributed among shareholders as a dividend. This financial maneuver reflects the company's performance during a period marked by the release of major titles and its status as a publicly traded entity on the Polish market.

The dividend payout is calculated at 0.19 PLN per share, applicable to a total of 29,562,512 eligible shares. To facilitate this distribution, the General Meeting established a specific timeline for shareholders. The dividend record date, which determines eligibility for the payout, was set for June 30, 2021. Following this, the actual disbursement of funds to shareholders was scheduled to occur on July 8, 2021.

This resolution underscores the company's commitment to shareholder returns following the 2020 financial year. By formalizing these dates and amounts, the leadership provides transparency regarding the allocation of net financial results. The announcement complies with standard regulatory requirements for issuers of securities regarding the communication of current and periodic information within the Polish financial sector.

The management board of PCF Group S.A., a prominent Polish game development studio, issued a formal correction regarding the classification of its shareholder meeting held on June 22, 2021. The primary purpose of this communication is to rectify a clerical error in a previous filing, clarifying that the assembly was an Ordinary General Meeting rather than an Extraordinary General Meeting. This adjustment ensures regulatory compliance and accuracy in the public record concerning the company’s corporate governance and shareholder structure.

The disclosure identifies four major shareholders who held at least 5% of the voting rights during the proceedings. Sebastian Wojciechowski remains the dominant stakeholder, controlling 14,872,022 votes, which represents 50.31% of the total voting power and 66.14% of the votes present at the meeting. Other significant participants include Bartosz Kmita, who held 11.47% of the meeting's votes, as well as Bartosz Biełuszko and Krzysztof Dolaś, who each accounted for 8.03% of the votes exercised during the session.

This filing provides a snapshot of the ownership concentration within PCF Group S.A. at a specific point in mid-2021. By detailing the exact number of votes and their corresponding percentages relative to both the total share capital and the attendance at the meeting, the data highlights the centralized control maintained by the company’s leadership. The correction was issued in accordance with Polish public offering laws, specifically addressing the transparency requirements for publicly traded companies on the Warsaw Stock Exchange.

PCF Group S.A., a Warsaw-based game development studio, successfully concluded a private subscription of Series D ordinary bearer shares on May 31, 2021. The primary purpose of this issuance was to increase the company's share capital through a targeted private placement. The offering was directed exclusively to a single investor, Fiducie Familiale Samuel Girardin 2020, a trust established for Samuel Girardin and related parties based in Montreal, Canada.

The subscription involved 387,714 Series D shares with a nominal value of 0.02 PLN each. These shares were issued at an individual price of 75.75 PLN, resulting in a total offering value of 29,369,335.50 PLN. The transaction was executed via a direct subscription agreement rather than a traditional book-building process, meaning there was no reduction rate or division into tranches. All shares were acquired in exchange for cash contributions.

The issuance followed a resolution passed during the Extraordinary General Meeting on May 24, 2021, which also authorized the exclusion of pre-emptive rights for existing shareholders. Furthermore, the company initiated the process to dematerialize these shares and seek their admission to trading on the regulated market of the Warsaw Stock Exchange. While the subscription is complete, the final accounting of issuance costs—including advisory, preparation, and promotion fees—remains pending. PCF Group S.A. intends to disclose these specific financial details and the average cost per share in a subsequent regulatory filing once all invoices from involved entities are finalized.

The Ordinary General Meeting of PCF Group S.A., held on June 22, 2021, in Warsaw, resulted in the adoption of sixteen resolutions governing the company’s financial and administrative operations for the 2020 fiscal year. Representing approximately 76.07% of the share capital, the assembly approved the individual and consolidated financial statements, management reports, and the activities of the Supervisory Board and Audit Committee. Sebastian Wojciechowski was elected Chairman of the Meeting, and the assembly opted to utilize an electronic voting system in lieu of a traditional scrutiny committee.

Financial data for the period ending December 31, 2020, reveals that PCF Group S.A. achieved a net profit of 29.1 million PLN on total assets of 91.2 million PLN. On a consolidated basis, the Capital Group reported a net profit of 24.6 million PLN with total assets valued at 95.7 million PLN. A significant resolution concerned the distribution of the 29.1 million PLN net profit, with 5.6 million PLN allocated for shareholder dividends at a rate of 0.19 PLN per share. The remaining 23.5 million PLN was directed to the company’s supplementary capital. The dividend record date was set for June 30, 2021, with payment scheduled for July 8, 2021.

The assembly granted formal discharge (absolutorium) to the President of the Management Board, Sebastian Wojciechowski, and all members of the Supervisory Board, including Mikołaj Wojciechowski, Bartosz Biełuszko, Krzysztof Dolaś, Jacek Pogonowski, Barbara Sobowska, and Aleksander Ferenc, for the performance of their duties in 2020. All resolutions were passed with unanimous support from the participating shares, and the company assumed all costs associated with convening and conducting the meeting.

PCF Group S.A., a Warsaw-based game development company, finalized a significant equity transaction on May 31, 2021, involving the issuance of Series D ordinary bearer shares. This action followed a series of corporate resolutions and previous market disclosures initiated in April and May of the same year. The primary objective of this specific transaction was the formal execution of a share subscription agreement with a Canadian entity, Fiducie Familiale Samuel Girardin 2020, a trust established for the benefit of Samuel Girardin and his associates in Montreal.

The transaction involved the issuance of 387,714 Series D shares at a set issue price of 75.75 PLN per share. This resulted in a total transaction value of 29,369,335.50 PLN. The issuance was conducted under the authority of the Extraordinary General Meeting of Shareholders held on May 24, 2021, which provided the legal framework for the capital increase. This move represents a targeted investment into the company by an international trust, expanding the firm's capital base through a private placement mechanism rather than a broad public offering.

The scope of this disclosure is limited to the Polish capital market and the specific contractual obligations between the developer and the Canadian trust. While the document confirms the signing of the subscription agreement, it notes that the final conclusion of the entire Series D share issuance process will be disclosed in a subsequent announcement. This transaction highlights the ongoing financial expansion and international investor interest in the Polish gaming sector during the second quarter of 2021, specifically regarding established studios seeking to solidify their financial structures through strategic share allocations.

PCF Group S.A. demonstrated significant financial scaling and geographic expansion during the first quarter of 2021, a period defined by the transition toward the high-profile launch of Outriders and the strengthening of its global development capabilities. Sales revenues reached 30.9 million PLN, representing a 19% year-over-year increase primarily driven by the game production for hire segment. While revenue grew, net profit saw a slight contraction to 7.8 million PLN, down from 8.7 million PLN in the prior year. This decrease in profitability reflects the rising operational costs associated with scaling the business, expenses related to the public offering, and the strategic acquisition of Game On Creative.

The Group’s balance sheet underwent a major transformation, with total assets more than doubling to 205.7 million PLN. This growth was fueled by a successful Series B share issuance that generated 100.3 million PLN in net proceeds, bringing total cash and cash equivalents to 147.5 million PLN by the end of March. These funds provide the liquidity necessary to support a diversifying project pipeline, which includes both established work-for-hire partnerships and a shift toward self-publishing initiatives. The Group also expanded its North American footprint by establishing PCF Chicago and acquiring Game On Creative, utilizing a mix of share issuances and internal financing to facilitate these moves.

Operational stability is maintained through a highly concentrated revenue model, with approximately 98% of income derived from two major publishers. A strategic partnership with Square Enix remains central to the Group’s trajectory, involving a subscription warrant program that could result in the publisher holding a minority equity stake by 2025. Despite the accounting impact of these warrants and the costs of rapid expansion, the Group remains well-capitalized with 182.0 million PLN in equity, positioning it to execute a long-term strategy of global studio growth and diversified game development across its subsidiaries in Poland, the United Kingdom, Canada, and the United States.

The management board of PCF Group S.A., a Warsaw-based video game developer, has formally proposed a distribution plan for the net profit generated during the 2020 financial year. Following a board resolution passed on May 26, 2021, the company intends to allocate a total net profit of 29,095,746.74 PLN. This proposal aligns with the company’s established dividend policy and reflects the financial performance of the studio during a period of significant operational activity.

The distribution strategy involves a dual approach of rewarding shareholders while maintaining internal capital reserves. Specifically, the board recommends allocating 5,616,877.28 PLN for dividend payments, which equates to 0.19 PLN per share. This payout represents approximately 19.3% of the total net profit for the year. The remaining balance of 23,478,869.46 PLN is slated for transfer to the company’s supplementary capital to support future growth and financial stability.

The proposed timeline for this corporate action sets the dividend record date for June 30, 2021, with the subsequent payout scheduled for July 8, 2021. This recommendation is subject to the opinion of the Supervisory Board and requires final approval from the Ordinary General Meeting of Shareholders. The disclosure follows standard regulatory requirements for publicly traded companies in Poland, ensuring transparency regarding the allocation of earnings within the domestic gaming sector.

The management board of PCF Group S.A., the Warsaw-based parent company of the game development studio People Can Fly, has formally proposed a specific allocation of its net profit for the 2020 financial year. Following the conclusion of the fiscal period ending December 31, 2020, the company recorded a net profit of 29,095,746.74 PLN. This financial outcome reflects the company's performance during a year marked by significant development activity and the lead-up to major title releases.

The proposal outlines a dual-purpose distribution strategy that balances shareholder returns with long-term corporate stability. Specifically, the board recommends allocating 5,616,877.28 PLN for a dividend payment to shareholders, which equates to 0.19 PLN per share. The remaining majority of the net profit, totaling 23,478,869.46 PLN, is designated for transfer to the company’s supplementary capital. This retention of funds suggests a strategic focus on strengthening the firm's internal financing capabilities and supporting future operational growth within the competitive global gaming market.

The execution of this profit distribution is subject to approval by the Ordinary General Meeting and evaluation by the Supervisory Board. Under the proposed timeline, the dividend record date is set for June 30, 2021, with the actual disbursement to shareholders scheduled for July 8, 2021. This resolution adheres to the Polish Commercial Companies Code and the company’s internal statutes, representing a formal step in the financial governance of the publicly traded entity following its 2020 fiscal performance.

The Management Board of PCF Group S.A., the Warsaw-based parent company of the People Can Fly development studio, issued a formal notification on May 26, 2021, to convene an Ordinary General Meeting of shareholders. Scheduled for June 22, 2021, in Warsaw, the meeting serves as the primary corporate governance event for reviewing the company’s performance and financial standing following its 2020 fiscal year. This period is particularly significant as it covers the studio's operations and financial results leading up to and following its transition to a publicly traded entity on the Warsaw Stock Exchange.

The primary agenda focuses on the formal approval of financial statements for both the individual company and the larger capital group for the fiscal year ending December 31, 2020. Key documentation provided for shareholder review includes the Supervisory Board’s evaluation of the 2020 financial audits, reports on the activities of the Audit Committee, and a comprehensive remuneration report for members of the Management and Supervisory Boards covering the 2019 and 2020 periods. An independent auditor’s report is also included to provide reasonable assurance regarding the disclosed compensation data.

A critical component of the proceedings involves the Management Board’s proposal for the distribution of net profit earned during the 2020 financial year. The meeting aims to ratify these financial results and discharge board members of their duties for the previous year. These actions are conducted in accordance with the Polish Commercial Companies Code and the disclosure requirements for issuers of securities, ensuring transparency for investors regarding the studio's fiscal health and executive governance. All relevant materials, including the previously published annual report, were made available through the company’s investor relations portal and its corporate headquarters.