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New listing of CONSOLE LABS S.A. on NewConnect

The company CONSOLE LABS  S.A. was newly listed on NewConnect on 9 September 2021.

CONSOLE LABS  S.A. is the 369^th company listed on NewConnect and the 20^th new listing on NewConnect in 2021. 

Key information

*at the selling price of the shares in the last public offering, i.e., PLN 41.00 per share

Issuer’s history and business

The Company was established on 29 October 2018. Its founders included: PlayWay Spółka Akcyjna with its seat in Warsaw, Robert Kaszubowski, Sebastian Kijaczko, Karol Suwalski, Marcin Wesołowski, Szymon Migowski, Jagoda Mantaj, and Jakub Trzebiński.

The Issuer is a member of the PlayWay S.A. group of companies. As a subsidiary, the Issuer is a member of the group where PlayWay S.A. is the parent entity. PlayWay S.A. holds 652,947 shares of the Company representing 65.29% of the Issuer’s share capital and 65.29% of the Company’s total vote.

The Issuer is the parent entity of a group of companies within the meaning of the applicable accounting regulations and holds interest in a subsidiary, Beast Games S.A. with its seat in Gdańsk. The company is a publisher of computer games. The Issuer holds 590,000 series A ordinary bearer shares representing 59% of the share capital and 59% of the total vote of Beast Games S.A.

The Issuer’s core business is to port games from PCs to other platforms including Nintendo Switch, Sony Playstation PS4 / PS5, Microsoft Xbox One / Series X/S, and MacOS. Other activities of the Issuer include the production of proprietary games (within the subsidiary Beast Games S.A.). The Issuer has ported games under contracts with Playway S.A. Group members (including Playway S.A., DeGenerals S.A., Movie Games S.A., Ultimate Games S.A., Image Power S.A., Games Operators S.A.) as well as third parties (Blue Sunset Games Sp. z o.o.). PlayWay S.A. is the publisher of console games in most projects. Games are published and distributed via PlayWay S.A.’s account on sales platforms dedicated to distribution of games for specific consoles. Occasionally, games are published directly by the porting client. In some cases, the Issuer is the game publisher (e.g., Radio Commander for Nintendo Switch).

The Issuer’s two core business segments include: (1) game porting as a service from PCs to other platforms including Nintendo Switch, Sony Playstation PS4 / PS5, Microsoft Xbox One / Series X/S, and MacOS, and (2) production and publication of games on own account with the support of the main shareholder, PlayWay S.A. (within the subsidiary Beast Games S.A.). The Company is considering entering two additional segments: (1) Precertification testing, and (2) Production of games as a service for third-party publishers (subcontracting).

The Issuer’s selected financials (PLN):

Offering of series A shares

A Public Offering of up to 165,000 Shares was carried out under the information memorandum as a public offering within the meaning of Article 2(d) of the Prospectus Regulation. By decision of the offering agents, up to 115,000 shares were offered in the Public Offering.

Subscription dates 6 May 2021 – 24 May 2021 

Issue size: up to 115,000 shares were offered

Number of allotted shares: 80,620 shares

Selling price: PLN 41.00 

Selling amount: PLN 3,305,420 

Number of investors: 168 persons

Five of the persons allotted series A shares are related parties of the Issuer. They took up 4,640 series A shares.

Shareholders’ transactions in shares subject to the application for introduction in the last 12 months

There were 10 transactions in 76,000 shares at prices ranging from PLN 0.10 to PLN 36 in a total amount of PLN 1,262,000 in the last 12 months before the submission of the application for introduction.

The Issuer’s shareholders: 

1,000,000 series A shares representing 100% of the Company’s outstanding shares will be listed in the alternative trading system on NewConnect.