Relationships with debuts
New listing of the company RED DEV STUDIO S.A. on NewConnect
RED DEV STUDIO S.A. was newly listed in NewConnect on 26 September 2019.
RED DEV STUDIO is the 383rd company listed on NewConnect and the twelfth new listing on NewConnect in 2019.
Key information
|
company name |
RED DEV STUDIO S.A. |
|
seat |
Olsztyn |
|
companies listed on NC |
383 |
|
new listings on NC in 2019 |
12 |
|
nee listings in 2019 (NC + MM) |
18 |
|
business sector |
Games |
|
companies in the sector |
23 |
|
core business |
Red Dev Studio S.A. is in the video game business and focuses on the development of games for PCs and mobile devices. |
|
subscription/sale |
Private placement of series B shares 597,636 series B shares at PLN 1.90 per share |
|
offering value |
Private placement of series B shares – PLN 1,135,508.40 |
|
issue price |
Issue price of series B shares: PLN 1.90 |
|
reference price* |
PLN 1.90 |
|
company valuation |
PLN 10,639,751.10 |
|
valuation of introduced instruments |
PLN 10,639,751.10 |
|
%free float (under 5% in shares subject to the application – shareholders who are not related parties of the issuer) |
43.47 % |
|
free float value (shares subject to the application) |
PLN 4,624,968.60
|
|
%free float (under 5% in all shares - shareholders who are not related parties of the issuer) |
43.47 % |
|
Free float value (all shares) |
PLN 4,624,968.60
|
|
Authorised Advisor |
Blue Oak Advisory sp. z o.o. |
|
Market Maker |
|
|
Relationships with other NC listed companies |
As at the date of the information document, Mr Wojciech Sypko, President of the Management Board of the Company, and Mr Łukasz Bajno, Member of the Supervisory Board of the Company, are Members of the Supervisory Board of Art Games Studio S.A. – a company listed on NewConnect |
*issue price of series B shares subject to the private placement
Issuer’s history and business
According to the information document, the legal predecessor Red Dev Studio sp. z o.o. was established on 15 April 2016. In 2018, a resolution was passed to transform Red Dev Studio sp. z o.o. to into a joint-stock company Red Dev Studio S.A. The transformation of the legal form of the Company was registered on 16 November 2018.
Red Dev Studio S.A. is in the video game business and focuses on the development of games for PCs and mobile devices. As at the date of the information document, Red Dev Studio S.A. has developed four games. The issuer provides services to other game developers, including game trailers and game design. The Company works with 11 associates in 2 development teams. The Company brings together young, ambitious fans of electronic entertainment who are already experienced in game development. Games are developed at an office in Olsztyn. Games developed by Red Dev Studio S.A. are sold around the world in the digital distribution model via dedicated distribution platforms including Steam, App Store and Google Play, which are the biggest distributors of games and apps globally.
The business objective of the Company is to develop three or four low-budget high-margin games per year for PCs, mobile devices, and in the future also for consoles. The Issuer expects that its games will have an interesting plot and unique graphic design. Red Dev Studio S.A. continues to look for new ways of gaming presentation and a unique graphic style typical of its productions.
Selected financials of the Issuer (PLN):
|
|
30.06.2019 |
31.12.2018 |
31.12.2017 |
|
Net sales revenue, including: |
627,925.63 |
1,082,225.86 |
9,554.68 |
|
- Change in inventories |
611,450.08 |
793,783.31 |
0.00 |
|
Net profit |
-153,819.83 |
74,386.51 |
-173,768.52 |
|
Total assets |
1,593,389.71 |
1,426,635.78 |
754,939.94 |
|
Equity |
1,492,757.74 |
858,235.66 |
730,381.19 |
|
Total liabilities and provisions |
100,631.97 |
568,400.12 |
24,558.75 |
|
Change in cash |
-260,561.77 |
396,314.61 |
11,159.71 |
|
Cash – closing balance |
167,010.48 |
427,572.25 |
31,257.64 |
Share capital
The share capital of the Company is PLN 559,986.90 divided into:
- 5,002,233 series A ordinary bearer shares,
- 597,636 series B ordinary bearer shares,
at a par value of PLN 0.10 per share.
PRIVATE PLACEMENT OF SERIES B SHARES
Series B shares
Subscription opened on 3 December 2018.
Subscription closed on 26 February 2019.
Number of subscribed shares: 600,000 shares
Number of acquired shares: 597.636 shares
Price of the shares: PLN 1.90
Number of buyers of the shares: 30 individuals
Value of the private placement: PLN 1,135,508.40
Shareholders of the Company at the date of introduction into trading (9 September 2019):
|
Shareholder |
Number of shares |
Stake in the share capital and in the total vote |
|
Wojciech Jerzy Sypko |
1,749,576 |
31.24% |
|
Aspesi Investments Ltd. |
1,006,587 |
17.98% |
|
Gaming Factory S.A. |
409,512 |
7.31% |
|
Shareholders holding less than 5% of votes – unrelated parties |
2,434,194 |
43.47% |
Financial instruments newly listed on NewConnect:
- 5,002,233 series A ordinary bearer shares,
- 597,636 series B ordinary bearer shares.