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New listing of HYDRA GAMES S.A. on NewConnect

2022-01-21 16:59:30

The company HYDRA GAMES S.A. was newly listed on NewConnect on 21 January 2022.

HYDRA GAMES SA is the 383^rd company listed on NewConnect and the 3^rd new listing on NewConnect in 2022.

Key information

company name	HYDRA GAMES SA
ticker/abbreviated name	HYD
seat	Warsaw
core business	production, publication and distribution of video games
new listings on NC in 2022	3
companies listed on NC	383
business sector	Gaming
companies in the sector	59
subscription for/sale of shares in a public offering in the 12 months preceding the date of the Information Document	public offer – subscription for new series D shares: PLN 1,116,600
issue price (series D shares)	PLN 150.00
company valuation*	PLN 18,141,600
value of introduced instruments*	PLN 18,141,600
% free float (below 5% in shares subject to the application)	63.77 %
free float value* (in shares subject to the application)	PLN 11,568,750
% free float (below 5% in all shares)	63.77 %
free float value* (in all shares)	PLN 11,568,750
total number of shareholders	102
Authorised Advisor	INC SA
Market Maker	Dom Maklerski BDM

* at the reference price equal to PLN 150.00

Issuer’s history and business

The Issuer was incorporated in 2014 under the name: Reedley Investments Spółka Akcyjna. After May 2017, the Company operated under the name: Film Institute S.A. and planned to conduct business in the film industry in the segment of special effects and audio-visual effects. The Issuer held talks with partners in this area; however, due to the lack of necessary financial resources on the part of the Company, the plans were not implemented.

Thanks to the experience with the planned activity in the film industry, the Management Board saw potential in the gaming industry, which led to the reorganisation of the Issuer’s core business. On 16 January 2019, the Issuer’s Articles of Association were amended by a Resolution of the Extraordinary General Meeting the Company under the name of Instytut Filmowy S.A.; among other things, the Company’s name was changed from Instytut Filmowy Spółka Akcyjna to Hydra Games Spółka Akcyjna. The change of the Company’s name was registered in the National Court Register on 29 April 2019.

The Company’s core business includes the production, publication and distribution of video games including simulator, adventure horror and social theme video games

As at the date of the Information Document, the Company released one game developed by an external team: The Last Show of Mr. Chardish.

The Issuer also published its first own project: Don’t Be Afraid.

The Company plans to release approximately 2-5 new titles per year, not including game porting.

The share capital of the Company amounts to PLN 120,944 and is divided into 120,944 shares with a nominal value of PLN 1 per share, including:

100,000 series A ordinary bearer shares,
10,000 series B ordinary bearer shares,
3,500 series C ordinary bearer shares,
7,444 series D ordinary bearer shares.

Issue of series A shares

Legal basis of the issue: Founding deed of the joint stock company dated 20 October 2014

Number of shares taken up and paid: 100,000

Issue price: equal to the nominal price

Payment: in cash

Issue of series B shares (excluding pre-emptive rights)

Legal basis of the issue: Resolution of the Extraordinary General Meeting of 17 January 2019 amended by Resolution of the Extraordinary General Meeting of 15 March 2019

Number of shares taken up: 10,000

Issue price: PLN 80.00

Issue value: PLN 800,000

Number of shareholders: 8 natural persons and 1 legal person

Payment: in cash to the Issuer’s bank account.

Issue of series C shares (public offering, excluding pre-emptive rights by means of a purchase offer addressed to no more than 149 persons without the obligation to draw up a prospectus or memorandum)

Legal basis of the issue: Resolution of the Extraordinary General Meeting of 24 April 2020

Number of shares in issue: up to 3,500

Number of shares taken up: 3,500

Issue price: PLN 143.00 (set by the Company’s Management Board on 27 April 2020)

Issue value: PLN 500,500

Number of shareholders: 16 natural persons and 1 legal person

Payment: in cash to the Issuer’s bank account.

Issue of series C shares (public offering, excluding pre-emptive rights under an offering document referred to in Article 37a of the Offering Act)

Legal basis of the issue: Resolution of the Management Board dated 1 April 2021 concerning an increase of the share capital of the Company within the limits of the authorised capital

Number of shares in issue: up to 10,000

Number of shares taken up: 7,444

Issue price: PLN 150,00

Issue value: PLN 1,116,600

Number of shareholders: 16 natural persons and 3 legal persons (no shares were allotted to related parties)

Payment: in cash to the Issuer’s bank account.

Shareholders

Shareholder	Number of shares	% of capital % of total vote
RLTY Investments Sp. z o.o.	16,119	13.33
Cathetel Ltd	11,000	9.10
Stefan Twardak	9,500	7.85
Sebastian Schubert	7,200	5.95
Other	77,125	63.77

Selected financials (PLN):

(PLN)	Q3* 2021	2020	2019
Revenue and equivalent items	152,717	192,277	652,930
Change in inventory of products	-11,142	83,252	652,930
Net profit	-382,413	-519,871	-54,191
Equity	1,274,472	677,948	712,349
Liabilities and provisions	87,230	185,654	103,390
Cash at the end of the period	660,685	151,528	8,961