Relationships with debuts
New listing of the company KLABATER S.A. on NewConnect
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KLABATER S.A. was newly listed on NewConnect on 15 October 2019.
KLABATER is the 377th company listed on NewConnect and the 13th new listing on NewConnect in 2019.
Key information
|
company name |
KLABATER S.A. |
|
seat |
Warsaw |
|
companies listed on NC |
377 |
|
new listings on NC in 2019 |
13 |
|
business sector |
Games |
|
companies in the sector |
24 |
|
core business |
The Company is a publisher and producer of independent computer and console games. The objective of its publication and production business is to launch independent games on the global market. Publication is historically the Company’s first business segment and generates the majority of its income. Production was initiated later in view of a huge growth potential for the Issuer’s core business; it will generate income when the first proprietary game is released. Since Q1 2019, the Company provides game porting from computers to consoles, which generates income. |
|
private placement
|
Private placement: 1,250,000 series C shares
|
|
offering value |
PLN 4,000,000 |
|
issue price |
PLN 3,20
|
|
reference price |
PLN 3,20 |
|
company valuation* |
PLN 21,984,000 |
|
valuation of introduced instruments* |
PLN 21,984,000 |
|
%free float (under 5% in shares subject to the application) |
15.93% |
|
free float value (shares subject to the application* |
PLN 3,502,000 |
|
%free float (under 5% in all shares) |
15.93% |
|
Free float value (all shares)* |
PLN 3,502,000 |
|
Authorised Advisor |
Partners & Ventures Sp. z o.o. |
|
Market Maker |
Trigon Dom Maklerski S.A. |
*at the proposed reference price: PLN 2.87
Issuer’s business
The core business of the Company since inception is the publication of video games for computers (PC and Mac) and consoles (PlayStation 4, Xbox One and Nintendo Switch). The business model includes the identification, evaluation and acquisition of video games from development studios and their sale in physical or digital formats on global markets. Physical distribution uses a network of distributors and independent stores. Digital distribution is based on digital distribution platforms. Computer games are distributed in digital format via dedicated platforms including STEAM, GOG, GMG, Humble Store, Fanatical, Windows 10 Store; console games are distributed via platforms including Sony PlayStation Network, Microsoft Xbox Live and Nintendo Switch eShop.
Game production is a relatively new business segment of the Issuer. Its mission is to leverage the Company’s experience in game development and use the business opportunities provided by the production of proprietary titles, including higher margins compared to the publication business model. In the production segment, the Issuer is planning to invest in the production of games based on proprietary concepts and buy rights (licences, IP) from recognised existing brands which have fans around the world. The Company is building an in-house developer team to produce original games under the Kraken Unleashed brand. The Issuer has not earned income from production before and is not going to generate such income until the first game produced by the Company is released.
The Company’s first proprietary title currently under development is Crossroads Inn, a production combining several genres including simulation, RPG and adventure game.
Porting services are a new part of the Company’s business model. In Q1 2019, the Company established a division responsible for game porting from PC platforms to console platforms. As at the date of the Information Document, the Company has three staff in that division as well as the necessary software and hardware resources (specialised software and tools for game porting between hardware platforms, special developer consoles) to operate the porting business.
The issuer’s selected financials (000’PLN):
|
|
Q2 2019 |
23.11.2017-31.12.2018 |
|
Equity |
4,543.069,63 |
4,386,136.24 |
|
Total assets |
5,913.129,08 |
5,580,177.83 |
|
Total liabilities |
1,370,059.45 |
1,194,041.59 |
|
Revenue |
2,196,109.04 |
452,835.26 |
|
Net profit |
156,933.39 |
-251,780.52 |
|
Total net cash flows |
-592,252.14 |
3,472,254.88 |
|
Cash |
2,880,002.74 |
3,472,254.88 |
Private placement of series E shares
Start date: 16.10.2018
End date: 19.10.2018
Number of allotted shares: 1,250,000 shares
Price of the financial instruments: PLN 3.20
Offering value: PLN 4,000,000
Shareholders:
|
Issuer’s significant shareholder |
Number of shares and votes* |
Stake in shares and votes |
|
Robert Wesołowski |
2,810,000 A i B |
40.90% |
|
Michał Gembicki |
2,810,000 A i B |
40.90% |
|
Sandra Piczak |
140,000 C |
2.04% |
|
Kamil Gemra |
15,625 C |
0.23% |
|
Lech Iwaniuk |
17,000 C |
0.25% |
|
Other |
1,094,375 C |
15.93% |
|
Total |
1,235,273 |
100.0%
|
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