3 September 2020
Update of information related to the accounting treatment of share sales transactions under the incentive scheme adopted by Resolution No 26 of the Ordinary General Meeting of the Company of 20 May 2020 for the new President of the Management Board
Legal Basis: art. 17 sec. 1 MAR
Content of the report:
With reference to the report no. 40/2020, the Management Board of Ten Square Games S.A.
(the “Company”) informs that in the course of preparation and publication of the interim report and in the course of the procedures of reviewing the financial statements by the auditor, after re-examining the terms of the transaction, the Management Board reassessed the transaction and decided to recognize the cost of the transaction in the amount of PLN 72,398,017.50 proportionately over a period of 3 years (12 commenced quarters).
A consequence of the change in the recognition of the transaction is the fact that the Company in the separate statement of comprehensive income of the Company and the consolidated statement of comprehensive income of the capital group Ten Square Games S.A. for the first half of 2020 will not demonstrate in its books a one-time cost in the amount of PLN 72,398,017.50 (as indicated in the current report no. 40/2020), but this cost will be recognized proportionally in the period of 3 years (12 commenced quarters) starting from May 20, 2020. Therefore, the cost included in the separate statement of comprehensive income of the Company and the consolidated statement of comprehensive income of the Ten Square Games S.A. capital group in the first half of 2020 will amount to PLN 6,033,168.