Relationships with debuts
New listing of MADMIND STUDIO S.A. on NewConnect
6
The company MADMIND STUDIO S.A. was newly listed on NewConnect on 8 September 2021.
MADMIND STUDIO S.A. is the 368th company listed on NewConnect and the 19th new listing on NewConnect in 2021.
Key information
|
company name |
MADMIND STUDIO S.A.
|
|
ticker, abbreviated name |
“MMS”, “MADMIND”
|
|
seat |
Bydgoszcz
|
|
core business |
Madmind Studio S.A. is an independent developer and focuses on the production and publication of action and horror games
|
|
new listings on NC in 2021 |
19 |
|
companies listed on NC |
368 |
|
business sector |
Gaming |
|
companies in the sector |
51 |
|
offering/sale (Y/N, private/public) |
Sale of 417,190 series A shares
|
|
offering value |
Sale value: PLN 856,303,75
|
|
issue/selling price |
Selling price of series A shares: from PLN 0.50 to PLN 3.35**
|
|
reference price |
PLN 2.05 - weighted average selling price of shares in the last 12 months, i.e., PLN 2.05 per share
|
|
company valuation |
PLN 24,595,900
|
|
value of introduced instruments |
PLN 24,595,900
|
|
% free float (below 5% in shares subject to the application) |
26.37% |
|
free float value |
PLN 6,485,938.83
|
|
% free float (below 5% in all shares) |
26.37% |
|
free float value |
PLN 6,485,938.83 |
|
Authorised Advisor |
INC S.A.
|
|
relations with other companies |
Playway S.A. – a shareholder which holds 59.88% of the Issuer’s share capital |
*at the weighted average selling price of shares in the last 12 months, i.e., PLN 2.05 per share
**restated after the reverse split of the shares
Issuer’s history and business
The Issuer was established on 2 February 2016 as a limited liability company, Madmind Studio spółka z ograniczoną odpowiedzialnością. The transformation of Madmind Studio sp. z o.o. into a joint-stock company was registered in the National Court Register on 1 February 2021.
Madmind Studio S.A. is an independent developer and focuses on the production and publication of action and horror games.
The Issuer started to operate in the gaming sector in 2016. The Issuer earns regular revenue from sales of proprietary games.
Madmind Studio S.A. intends to continue its core business: development of horror, action, and survival games. The Issuer is focusing on the production of a new title, Succubus, to be released on 5 October 2021 on Steam. A fragment of the game, Succubus: Prologue, was released on Steam on 22 July 2020. The demo of the game Succubus was released on Steam on 26 April 2021. The game’s wishlist was approx. 240 thousand as at 31 Mat 2021. The Prologue was very well received: 4340 opinions were posted on Steam, and 83% of the opinions are positive. The game’s budget is PLN 3 million and the amount invested up to the date of the document is PLN 1,666,577.01.
The development team will be expanded in order to run two independent projects in parallel. One team will develop high-budget games over PLN 4 million each. The other team will focus on the development of smaller independent games with a budget ranging from PLN 1 to 2 million.
The Issuer’s selected financials (PLN):
|
|
Q1 2021 |
2020 |
2019 |
|
Sales revenue and equivalent revenue |
636,834.53 |
3,249,459.69 |
3,969,462.83 |
|
Change of inventory |
542,408.13 |
1,974,350.39 |
2,099,562.87 |
|
Net profit |
-6,898.66 |
745,071.62 |
1,528,847.60 |
|
Equity |
6,416,955.33 |
6,458,567.99 |
3,243,496.37 |
|
Non-current liabilities |
0 |
0 |
0 |
|
Current liabilities |
204,566.17 |
233,335.65 |
158,643.99 |
|
Total assets |
6,763,020.50 |
6,833,402.62 |
3,402,140.36 |
|
Total net cash flows |
-537,531.74 |
1,571,302.56 |
-192,814.69 |
|
Cash – closing balance |
1,270,325.85 |
1,807,857.59 |
236,555.03 |
The series A ordinary bearer shares introduced into the alternative trading system on NewConnect were formed through the transformation of shares of the limited liability company Madmind Studio spółka z ograniczoną odpowiedzialnością and the formation of the joint-stock company Madmind Studio S.A.
Shareholders’ transactions in shares subject to the application for introduction in the last 12 months
There were 7 transactions in 417,190 series A shares at prices ranging from PLN 0.50 to PLN 3.35 (restated after reverse split) in a total amount of PLN 856,303.75 in the 12 months before the submission of the application for introduction.
The Issuer’s shareholders:
|
Shareholder |
Number of shares |
Share in capital |
Number of votes |
Share in votes |
|
PlayWay S.A. |
7,184,500 |
59.88% |
7,184,500 |
59.88% |
|
Trzebiński Jakub Dutkiewicz Tomasz |
792,725 857,000 |
6.61% 7.14% |
792,725 857,000 |
6.61% 7.14% |
|
Other |
3,163,775 |
26.37% |
3,163,775 |
26.37% |
|
Total |
11,998,000 |
100.00% |
11,998,000 |
100.00% |
Lock-up agreements
Lock-up agreements cover 9,584,100 shares representing 79.88 percent of all shares of the Issuer and the same proportion of shares introduced to trading on NewConnect.
11,998,000 series A shares representing 100% of the Company’s outstanding shares will be listed in the alternative trading system on NewConnect.
Galeria
