Gamedust shareholders will decide at a general meeting convened on July 11 to issue up to 30 million Series H shares in a private subscription without preferential subscription rights for existing shareholders, the company said in a statement. the draft resolutions.
Thus, the share capital of the company will be increased to a maximum of 26,444,859 PLN against 23,444,859 PLN. The nominal value of one share is 0.10 PLN.
“All Series H Shares will be taken up by the Company by submitting an offer and accepted by a named recipient (private subscription), while the offer for Series H Shares will be made only to natural persons and not more of 149 (one hundred and forty-nine) recipients in total” – we read in the draft resolution.
The general meeting authorizes the management board, among other things, to determine the issue price of the series H shares and to determine the detailed terms and conditions of the placement of the series H shares, have also been provided.
“Given the intention to hold a general meeting of the company with as its agenda a resolution relating to the increase of the share capital of the company by issuing series H shares with preemption of the existing shareholders and amending the articles of of the Company, the Management Board of the Company acknowledges that the waiver of the pre-emptive right of existing shareholders to Series H Shares and at the same time the offer to subscribe for Series H Shares by private subscription is within the interest of the company interests due to the need to obtain the necessary funds to finance the continuation of existing projects, as well as the start of new investments by the company”, reads the notice of the board of directors. on the project.
If it is necessary to offer shares of a new issue by means of an announcement addressed to the shareholders holding the subscription right, the period for obtaining the funds necessary to cover these shares is extended, whereas the objectives of The company’s investment must be achieved within a shorter period than required by the provisions of the Commercial Companies Code for the exercise of the subscription right, explains the management.
“The exclusion of the subscription right will not affect the rights of shareholders, except the reduction of their percentage of participation in the share capital of the company. For the above reasons, the exclusion of the preferential subscription right of existing shareholders is fully justified in the interests of the company and does not risk, in the opinion of the management board, infringing the rights of the shareholders of the company. . The issue price of the newly issued Series H Shares will be determined based on micro and macroeconomic conditions and taking into account the current economic situation and the valuation of the company’s assets. In view of the foregoing, the company’s management board issues a favorable opinion on the draft resolution relating to the increase in the company’s share capital by issuing series H shares” – summary.
In mid-April this year. Gamedust has informed that it has decided to start working on the release of the game “Yupitergrad 2: The Lost Station”, which will be the “most ambitious” title in the company’s history. As it was reported at the time, the expected release date of the game is around the turn of 2022 and 2023.
The company also pointed out that due to the fact that the game will be a continuation of the “Yupitergrad” game, which is currently Gamedust’s main source of income, the game’s sales results could have a significant impact on the future income of the society.
Earlier in June, Gamedust said it assumed its subsidiary Bluekey would develop the Rooms of Realities app as a “killer app”, which could lead to the company being listed or sold on the market. a leading escape room operator. Gamedust CEO Paweł Flieger also said that Gamedust hopes that in 2023 it will break even.
In addition to active work on Rooms of Realities, Gamedust also wants to release two other games in 2022: “Best Forklift Operator”, which is a VR forklift simulator, and “Sunrise GP”, which is a racing game. game with a visual setting. Gamedust’s original game, “Yupitergrad 2: The Lost Station”, is also in production.
Gamedust is a game producer in the VR segment, which got its start on NewConnect through a reverse acquisition of listed company Inwestycje.pl.
Source: ISB news