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New listing of GAMES BOX on NewConnect

The company GAMES BOX S.A. was newly listed on NewConnect on 24 June 2022.

GAMES BOX S.A. is the 383^rd company listed on NewConnect and the ninth new listing on NewConnect in 2022. 

Key information

*in the last 12 months before the submission of the application for introduction

**at the reference price equal to PLN 12.00

Issuer’s history and business

The legal predecessor of the Issuer was established under the name Console Way sp. z o.o. with its registered office in Warsaw on 9 July 2020. The founders of the company included Ultimate Games S.A. The legal predecessor of the Issuer changed its name to Games Box sp. z o.o. on 25 August 2020.

Games Box S.A. operates in the video games sector and specialises in the publication and production of games for various platforms, i.e., games for computers (PC and MAC) and games for consoles (Nintendo Switch, PlayStation 4 and Xbox One).

The Issuer holds copyright in two games. Ultimate Games S.A. is the co-publisher of these games together with the Issuer.

Bad Dream: Coma was released on Steam on 9 March 2017 and has approximately 90% positive reviews from players. Over 100,000 copies have been sold. The game premiered on the Nintendo Switch console on 24 January 2019 and was released for Xbox Series X|S and Xbox One on 20 April 2021.

The Issuer holds the copyright, including the author’s economic rights, to this game in its PC and Nintendo Switch versions pursuant to an agreement dated 23 September 2020 concluded with Ultimate Games S.A. Under the agreement, Ultimate Games S.A. continues to provide publishing and distribution services in relation to the game Bad Dream: Coma. For this purpose, the Issuer has granted Ultimate Games S.A. an exclusive royalty-free licence for this game in perpetuity and throughout the universe. Games Box S.A. receives from Ultimate Games S.A. a fee equal to 99.00% of the revenue from the sale of the game Bad Dream: Coma less costs associated with the provision of publishing and distribution services by Ultimate Games S.A., including Steam and Nintendo Switch fees and commissions. Ultimate Games S.A. receives 1.00% of the revenue for the provision of publishing and distribution services for the game.

Ships 2017 was released on Steam on 19 October 2016 and on Nintendo Switch on 5 November 2019. More than 20,000 copies have been sold for PCs, and a port of the game for Xbox Series X|S and Xbox One is under development. The Issuer holds the copyright, including the author’s economic rights, to this game in its PC and Nintendo Switch versions pursuant to an agreement dated 29 October 2020 concluded with Ultimate Games S.A. Under the agreement, Ultimate Games S.A. continues to provide publishing and distribution services in relation to the game Ships 2017. To this end, the Issuer has granted Ultimate Games S.A. an exclusive royalty-free licence for this game in perpetuity and throughout the universe. Games Box S.A. receives a fee from Ultimate Games S.A. equal to 99.00% of the revenue from the sale of the game Ships 2017 less costs associated with the provision of publishing and distribution services by Ultimate Games S.A., including Steam and Nintendo Switch fees and commissions. Ultimate Games S.A. receives 1.00% of the revenue for the provision of publishing and distribution services for the game.

Bus Driver Simulator Countryside

The Issuer holds economic rights in the game Bus Driver Simulator Countryside (previously Bus Simulator Suburbs) under the agreement dated 1 September 2021 with Ultimate Games S.A. The agreement also governs the provision of publishing and distribution services for the game by Ultimate Games S.A., whereby the developer of the game, i.e., Black Rose Projects S.A., is entitled to a fee in the amount of 30% of the profit on sales while the remaining part, i.e., 70% of the profit on sales after all distribution costs and fees, including Nintendo Switch fees and commissions, is due to the Company. The game was released on 3 March 2022. In the month of the release, i.e., March 2022, 702 copies of the game in question were sold, generating approximately PLN 10,000 in revenue for the Company.

The Issuer’s share capital according to its entry in the Register of Entrepreneurs amounts to: PLN 121,375 and is divided into 1,213,750 shares, including:

• 1,160,000 series A ordinary bearer shares,
• 53,750 series B ordinary bearer shares,

with a nominal value of PLN 0.10 each, issued by GAMES BOX S.A.

Public offering of 53,750 series B shares

The subscription opened on 16 September 2021.

The subscription closed on 26 October 2021.

53,750 shares were taken up in the private subscription.

The series B shares were taken up at the issue price of PLN 12.00.

The series B shares were taken up for in cash.

The series B shares were allotted to 7 natural persons.

The entities to which the series B shares were allotted are not related parties of the Issuer within the meaning of Article 4.6 of the ATS Rules.
 

Offering value: PLN 645,000.

Issuer’s selected financials (PLN):

Issuer’s shareholders:

Financial instruments newly listed on NewConnect:

• 1,160,000 series A ordinary bearer shares,
• 53,750 series B ordinary bearer shares,

The application covers all outstanding shares of the Company.