Brief: PCF Group Acquires 100% Stake In Canada-based Game On Creative

PCF SA

28/04/2021 09:07

April 28 (Reuters) - PCF Group SA  PCF1.WA :
    * SAID ON TUESDAY IT HAS SIGNED AN INVESTMENT DEAL WITH
CANADA-BASED FIDUCIE FAMILIALE SAMUEL GIRARDIN 2020 (SELLER) ON
PURCHASE OF 100% STAKE IN GAME ON CREATIVE FOR 29.4 MILLION
ZLOTYS 
    * DEAL VALUE MAY BE ADJUSTED UPWARDS BY THE EARN-OUT
DEPENDENT ON
FUTURE FINANCIAL RESULTS OF GAME ON
    * GAME ON SPECIALISES MAINLY IN THE PRODUCTION OF ANIMATION
(IT
HAS ITS OWN MOTION STUDIO CAPTURE ENABLING SIMULTANEOUS
RECORDING OF THE CHARACTER ANIMATION, FACE ANIMATION AND
RECORDING SOUND) AND AUDIO
    * GAME ON IS ALSO A MULTIANNUAL PRODUCTION PARTNER OF PEOPLE
CAN
FLY STUDIO AND HAS PLAYED AN IMPORTANT ROLE IN THE CUTSCENES
PRODUCTION PROCESS (CINEMATICS) FOR THE GAME "OUTRIDERS"
    * THE INVESTMENT DEAL ALSO ASSUMES REINVESTMENT OF ALL FUNDS
FROM
THE SALE OF GAME ON SHARES BY THE SELLER IN THE COMPANY'S NEW
ISSUE SHARES
    * FOR THE PURPOSE OF REINVESTMENT, THE COMPANY OBLIGED TO
CONVENE
AN EXTRAORDINARY GENERAL MEETING TO ADOPT A RESOLUTION ON THE
INCREASE OF COMPANY'S SHARE CAPITAL VIA ISSUE OF 0.4 MILLION D
SERIES SHARES (ABOUT 1.29% STAKE) IN PRIVATE SUBSCRIPTION 
    * ISSUE PRICE FOR D SERIES SHARES IS SET AT 75.75 ZLOTYS PER
SHARE
    * THE PURCHASE OF ALL GAME ON SHARES IS A PART OF EXECUTION
OF
GROUP'S DEVELOPMENT STRATEGY AND ITS AIM IS TO STRENGTHEN
GROUP'S COMPETENCE IN THE FIELD OF CREATING AAA TITLES AND THE
POSSIBILITY OF IMPLEMENTING SEVERAL DEVELOPMENT PROJECTS AT THE
SAME TIME

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM9nB2cma
    
 Further company coverage:  PCF1.WA  
   


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