Brief: PCF Group And Take-Two Interactive Software Terminate Deal on 'Project Dagger'

PCF SA

03/10/2022 08:24

Oct 3 (Reuters) - PCF Group SA  PCF1.WA :
    * SAID ON SATURDAY THAT ITS UNIT PEOPLE CAN FLY U.S. AND
TAKE-TWO
INTERACTIVE SOFTWARE (PUBLISHER) SIGNED AGREEMENT TO TERMINATE
PRODUCTION-PUBLISHING DEAL RELATED TO PRODUCTION OF TITLE
'PROJECT DAGGER' GAME
    * UNDER AGREEMENT, UNIT WILL NOT BE OBLIGED TO REPAY
PUBLISHER ANY
DEVELOPER ADVANCES AND INSTEAD IT WILL BE REQUIRED TO REFUND
PUBLISHER $20 MILLION
    * REFUND TO TAKE PLACE VIA ROYALTIES IF GAME IS
SELF-PUBLISHED OR
IN TWO EQUAL INSTALLMENTS IN CASE OF NEW PUBLISHER
    * TAKE-TWO INTERACTIVE SOFTWARE WILL NOT BE ENTITLED TO
REFUND  IN
EVENT WHEN PROJECT DAGGER IS NOT COMMERCIALLY RELEASED
    * PEOPLE CAN FLY U.S. HAS EXCLUSIVE INTELLECTUAL PROPERTY
RIGHTS
TO 'PROJECT DAGGER' GAME

        
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