PlayWay

The legal amendments to the Articles of Association of PlayWay S.A., a prominent Polish video game publisher and developer, were formally adopted following Resolution No. 26 of the Ordinary General Meeting held on June 30, 2025. These changes serve to modernize the company’s corporate governance framework, clarify its foundational history, and significantly broaden its registered business activities.

A primary update involves the formal recognition of Krzysztof Kostowski as the company’s founder. Furthermore, the scope of business operations has been extensively redefined under the Polish Classification of Activities (PKD). While the core focus remains on computer game publishing and programming, the expanded scope now includes diverse sectors such as the production of games and toys, retail and wholesale of information technology equipment, textile and clothing sales, and media-related activities including television broadcasting and film post-production. This indicates a strategic shift toward a more diversified commercial ecosystem surrounding the company’s intellectual property.

Governance structures have also been standardized, with the terms of office for both the Management Board and the Supervisory Board set at five years, calculated in full financial years. The Supervisory Board’s competencies have been updated to include the selection of auditing firms not only for financial audits but also for the attestation of sustainability reporting, reflecting increasing regulatory requirements for corporate social responsibility and ESG transparency. Additionally, the authority to determine dividend dates and payment schedules is explicitly vested in the Ordinary General Meeting, ensuring compliance with current legal standards. These amendments collectively streamline the company’s internal regulations to support long-term operational stability and broader market engagement.

PlayWay S.A. has formalised a proposal for the distribution of its 2024 fiscal year earnings following a positive evaluation by the company’s Supervisory Board. The recommendation, initially put forward by the Management Board, outlines a significant capital return to shareholders based on the financial performance achieved during the previous calendar year. This move signals the company's continued commitment to a high-payout dividend policy within the Polish game development and publishing sector.

The proposal specifies a dividend payment of 22.55 PLN per share, resulting in a total aggregate distribution of 148,830,000.00 PLN. To facilitate this payout, the board has established a timeline that sets the dividend record date for July 8, 2025, with the actual disbursement of funds scheduled to take place on July 15, 2025. This structured timeline ensures that investors holding shares as of the record date are eligible for the distribution, reflecting the company's liquidity position and its ability to convert annual profits into direct shareholder value.

While the Supervisory Board has endorsed these figures and dates, the final execution of the profit distribution remains subject to the approval of the Ordinary General Meeting. This procedural step is the final requirement for the resolution to become legally binding. The announcement, issued in June 2025, underscores PlayWay’s role as a major dividend-paying entity in the regional gaming industry, maintaining transparency regarding its financial allocations and corporate governance standards.

This document details specific amendments made to the activity report for PlayWay S.A. and its Capital Group, dated April 25, 2025. The primary purpose of these revisions is to clarify the reporting periods for Steam sales data and to adjust the historical revenue distribution among the company’s key titles. The scope of the data covers the full fiscal years of 2023 and 2024, with additional sales figures extending into the first half of April 2025.

The revisions clarify that the cumulative sales figures for major titles—such as Thief Simulator and the Car Mechanic Simulator series—represent totals from their respective release dates through April 16, 2025, rather than just the first quarter of 2025. Significant data points include Thief Simulator reaching 4.78 million units and Car Mechanic Simulator 2018 DLC exceeding 5.2 million units by the April 2025 cutoff. Within the broader Capital Group, House Flipper 1 remains a dominant performer, with lifetime sales reaching 5.26 million units and its DLCs totaling 3.59 million units.

Financial adjustments also refine the revenue share of specific titles for the 2023 period. While the 2024 revenue distribution remains stable—led by House Flipper at 25.5% and Car Mechanic Simulator at 15.3%—the 2023 figures were updated to specifically break out Contraband Police at 7.8% of total revenue. This adjustment resulted in a reduction of the "Other" category for 2023 from 35% to 27.2%, providing a more granular view of the group's historical performance. The total revenue reported for the group remained consistent at 302.9 million PLN for 2024 and 273.9 million PLN for 2023.

The Management Board of PlayWay S.A. issued a formal correction regarding its annual and consolidated annual reports for the 2024 fiscal year, which concluded on December 31, 2024. This regulatory filing addresses specific clerical and presentation errors found within the activity report of the company and its capital group. The scope of the correction is limited to quantitative sales data for products sold via the Steam platform, specifically affecting the reporting of performance metrics for the company’s portfolio during the 2023 and 2024 periods.

The primary adjustments involve rectifying date labeling errors in two data tables on page 17 of the original activity report. Furthermore, the company identified a misclassification of sales data for the title Contraband Police. In the initial filing, sales figures for this specific game during the 2023 calendar year were incorrectly aggregated under the miscellaneous category rather than being disclosed as a standalone line item. The correction ensures that these figures are properly attributed to provide an accurate representation of the title's individual commercial performance within the broader group.

This disclosure was made in accordance with Polish financial market regulations regarding current and periodic information provided by issuers of securities. While the core financial results remain unchanged, the corrected reports aim to provide shareholders and market analysts with precise historical comparisons and product-level transparency. The company indicated that the fully amended annual and consolidated reports would be reissued through the official Electronic Information Transmission System to replace the previous versions.

The management board of PlayWay S.A., a prominent Polish game developer and publisher, has established the official schedule for the publication of its periodic financial results throughout the 2025 calendar year. This regulatory disclosure ensures transparency for investors and stakeholders regarding the company's financial performance across its extensive portfolio of development studios. The schedule covers the reporting of both standalone and consolidated results for the 2024 fiscal year and the first three quarters of 2025.

The reporting cycle begins with the publication of the individual and consolidated annual reports for 2024, which are scheduled for release on April 25, 2025. Following this, the consolidated quarterly report for the first quarter of 2025 will be issued on May 30, 2025. The mid-year performance review, contained within the consolidated semi-annual report for the first half of 2025, is set for publication on September 30, 2025. The final scheduled disclosure for the year is the consolidated third-quarter report, which will be released on November 28, 2025.

In accordance with Polish financial regulations, PlayWay S.A. has exercised specific reporting exemptions. The company will not publish separate quarterly reports for the fourth quarter of 2024 or the second quarter of 2025. Furthermore, the company will utilize integrated reporting formats, where consolidated quarterly and semi-annual reports include the necessary condensed individual financial statements. This approach streamlines the disclosure process by eliminating the need for separate standalone quarterly and semi-annual filings while maintaining compliance with the Minister of Finance's requirements for issuers of securities.

PlayWay S.A., a prominent Warsaw-based game developer and publisher, has announced a significant change to its executive leadership structure. On December 20, 2024, the company received formal notification regarding the resignation of Andrzej Włodzimierz Dudek from his position as Vice President of the Management Board. This departure is scheduled to take effect at the close of business on December 31, 2024, marking a transition in the company’s senior management as it enters the new calendar year.

The resignation was submitted citing personal reasons, with no further operational or strategic conflicts indicated in the disclosure. This personnel change follows the regulatory requirements set forth in the Act on Public Offering and the conditions for governing issuers of securities on the Polish market. The announcement was officially authorized by Krzysztof Kostowski, the President of the Management Board, ensuring compliance with the legal standards for current and periodic information disclosure for companies listed on the Warsaw Stock Exchange.

This leadership update focuses specifically on the corporate governance of PlayWay S.A. within the Polish gaming sector. While the notification does not detail a successor or immediate changes to the company’s broader development strategy, it confirms the departure of a key executive from one of the industry's most prolific incubators of gaming studios. The scope of the announcement is limited to this specific executive transition and its immediate effective date at the end of the 2024 fiscal year.

PCF Group S.A. has initiated a strategic update to its corporate governance and operational framework, centered on an Extraordinary General Meeting scheduled for November 2024. A primary objective of these changes is the expansion of the company’s statutory business activities to include management consultancy, a move designed to streamline advisory services within the capital group. This operational shift is accompanied by the formalization of leadership roles, including the confirmation of Lidia Banach-Hoheker to the Supervisory Board and the maintenance of specific personal rights for major shareholder Sebastian Wojciechowski, who retains the authority to appoint the Board President provided he holds a 25% voting stake.

The governance structure is further defined by a share capital of 718,805.42 PLN and a conditional capital increase intended for future stock options. Control remains concentrated through a Group of Authorized Shareholders who hold the right to appoint the Board Chairman and a majority of the Supervisory Board. To ensure compliance with public interest entity regulations, the board must include at least two independent members and a dedicated audit committee. These structural provisions are reinforced by a revised remuneration policy that aligns executive compensation with the company’s long-term financial health and the competitive standards of the global gaming industry.

The updated remuneration framework introduces a performance-linked model for the Management Board, capping variable pay at five times the annual fixed salary. Performance is measured against specific financial and qualitative benchmarks, including net profit, share price performance, and game quality metrics. For the Supervisory Board, the policy now includes additional compensation for committee participation. While the current structure focuses on fixed pay and non-monetary benefits like liability insurance and medical packages, it establishes a foundation for future share-based incentive programs. These comprehensive updates aim to balance internal stability with the flexibility required to navigate the evolving capital and gaming markets.

PlayWay S.A. has finalized the complete divestment of its stake in Big Cheese Studio S.A., a developer listed on the Warsaw Stock Exchange. This transaction involved the sale of 2,202,736 shares, representing 53.27% of the total voting rights at the company’s General Meeting. The sale was executed at a price of 14.15 PLN per share, marking a significant shift in the ownership structure of the Lodz-based studio known for titles such as Cooking Simulator.

The settlement of this transaction results in PlayWay S.A. holding zero shares in Big Cheese Studio S.A., effectively ending its status as a parent entity or major shareholder. The total valuation of the divested shares amounts to approximately 31.17 million PLN. This move follows previous regulatory filings from late July 2024 and adheres to the disclosure requirements set forth by the Market Abuse Regulation and the Polish Act on Public Offering.

This divestment reflects a strategic portfolio adjustment by PlayWay S.A., one of Poland’s largest game publishers and incubators. By offloading its entire majority stake, the company has realized a significant liquidity event while relinquishing operational and strategic control over Big Cheese Studio. The transaction was formally settled on July 30, 2024, and the necessary notifications regarding the change in shareholding have been submitted to the relevant financial authorities and the subsidiary itself.

PlayWay S.A. announced the initiation of an accelerated book-building process on July 25, 2024, to divest its majority stake in Big Cheese Studio S.A. The transaction involves the sale of up to 2,202,736 shares, representing 53.27% of the company’s share capital and total voting rights. Trigon Dom Maklerski S.A. is acting as the investment firm facilitating the sale, which is primarily targeted at institutional investors outside the United States under Regulation S of the U.S. Securities Act.

The book-building process was scheduled for completion on July 26, 2024, with the final share price and total volume to be determined upon closing. The offering is structured to utilize exemptions from the European Union Prospectus Regulation, meaning no formal prospectus or information memorandum will be published. Depending on the final volume sold, PlayWay may enter into a lock-up agreement regarding any remaining shares it holds in the studio.

Strategic objectives for the divestment include reallocating capital toward future dividend payments, funding new game development, and significantly expanding a support program for developers in Turkey. Despite the sale of its controlling interest, PlayWay intends to maintain a commercial relationship with Big Cheese Studio through cross-promotional activities on the Steam platform and the continued settlement of game royalties. The transaction remains subject to change or cancellation without cause at the discretion of the management board.

PlayWay S.A. has successfully concluded the accelerated bookbuilding process for its entire remaining stake in Big Cheese Studio S.A., a developer listed on the Warsaw Stock Exchange. This transaction, finalized on July 26, 2024, marks a significant divestment for PlayWay, as it exits its position in the subsidiary entirely. The sale involved 2,202,736 dematerialized shares, representing 53.27% of the total share capital and voting rights in the Łódź-based studio.

The sale price was established at 14.15 PLN per share. Following the settlement of this transaction, PlayWay S.A. will no longer hold any shares in Big Cheese Studio S.A. The transaction was executed on the same day the bookbuilding process was completed. This move follows a previous regulatory announcement issued earlier that day regarding the commencement of the sale process.

The scope of this financial action is focused on the Polish capital market, specifically the regulated market of the Warsaw Stock Exchange. The disclosure emphasizes that the transaction was conducted in compliance with European Union Market Abuse Regulations (MAR) regarding inside information. Furthermore, the offering was restricted geographically, excluding jurisdictions such as the United States, Australia, Canada, South Africa, and Japan, where such a distribution would require additional registration or legal compliance. The transaction serves as a strategic realignment for PlayWay S.A., liquidating its majority interest in the creator of the Cooking Simulator franchise.

The District Court for the Capital City of Warsaw officially registered amendments to the Articles of Association of PlayWay S.A. on July 26, 2024. This regulatory action follows Resolution No. 19, which was adopted during the Ordinary General Meeting of Shareholders held on June 20, 2024. The primary objective of these changes is to grant the Management Board the authority to increase the company’s share capital within the framework of authorized capital.

A critical component of this structural adjustment is the provision allowing the Management Board to waive the pre-emptive rights of existing shareholders, either in whole or in part, during future capital increases. This mechanism provides the executive leadership with enhanced flexibility to secure financing or execute strategic maneuvers without the administrative delays typically associated with standard subscription rights. The registration marks the formal legal enactment of these powers under Polish commercial law and capital market regulations.

The scope of this update is specific to the corporate governance framework of PlayWay S.A., a major entity in the Polish video game development and publishing sector. The filing adheres to the transparency requirements set forth in the Act on Public Offering and the Regulation of the Minister of Finance regarding current and periodic information provided by issuers of securities. By finalizing these statutory changes, the company has established a streamlined path for potential equity expansion, ensuring the legal infrastructure is in place to support future growth initiatives or capital restructuring as determined by the board.

The management of PlayWay S.A. has issued a formal update regarding the implementation of its Incentive Program for the 2023 fiscal year, specifically concerning the issuance of new ordinary bearer shares. Following a resolution by the Supervisory Board on July 18, 2024, which confirmed that the necessary conditions for executive share acquisition had been met, the President of the Management Board, Krzysztof Kostowski, formally waived his right to be offered and to subscribe to 66,000 new shares. These shares carried a nominal value of 0.10 PLN each and were intended as performance-based compensation for the preceding financial period.

This waiver effectively concludes the share issuance process for the 2023 financial year under the current program framework. Because the President was the sole individual eligible for the allocation during this period, and no other members of the Management Board remain entitled to participate for the 2023 cycle, the company will not offer these new shares to any other parties. The decision aligns with the regulatory guidelines established by the Ordinary General Meeting in June 2023 and subsequently amended in June 2024.

The scope of this disclosure is limited to the internal corporate governance and executive compensation structure of the Warsaw-based game developer and publisher. By documenting the voluntary forfeiture of these equity rights, the company clarifies its capital structure and confirms that the planned increase in share volume associated with the 2023 incentive targets will not proceed. This administrative action ensures compliance with market transparency requirements regarding material changes to incentive program execution and potential share dilution.