Current Report No. 15/2023 .

27 April 2023

The Management Board of Ten Square Games S.A. with its registered office in Wrocław (hereinafter referred to as the “Company”) informs that on April 27, 2023 it adopted a resolution on submitting a motion to the General Meeting of Shareholders of Ten Square Games S.A. regarding the distribution of the standalone net profit generated in 2022 in the amount of PLN 55,247,128 (in words: fifty-five million two hundred forty-seven thousand one hundred and twenty-eight zlotys) as follows:

  1. the amount of PLN 52,306,718.40 (say: fifty-two million three hundred and six thousand seven hundred and eighteen zlotys and forty groszy) proposed to be distributed among the shareholders in the form of a dividend payment of PLN 7.20 per share (say: seven zlotys and twenty groszy per share (excluding Company’s own shares purchased during buyback program)
  2. the amount of PLN 2,940,409.60 (say: two million nine hundred and forty thousand four hundred and nine zlotys and sixty groszy) proposed to be transferred to the Company’s supplementary capital.

The recommended amount to be distributed among shareholders constitutes 99.95% of the consolidated net profit earned in 2022. This is a value above the dividend policy adopted by the Company, which assumes the payment of up to 75% of the consolidated net profit in the form of dividends. This deviation is related to the change in the Company’s strategic priorities in the near future. 

The focus of the Company’s activities on the development of its main projects: Fishing Clash, Hunting Clash and Wings of Heroes, as well as the temporary resignation from the execution of projects outside the hobby and simulation niches, translates into lower capital needs of the Company than before. In the Company’s opinion, resignation from intensive investment plans in the near future as well as high inflation and the depreciation of money over time justify a higher rate of dividend payout than set in the dividend policy.   

The motion regarding the payment of profit to shareholders will be reviewed by the Company’s Supervisory Board. The final decision regarding the distribution of profit for the financial year ended on December 31, 2022 and the payment of dividends will be made by the Ordinary General Meeting of Ten Square Games S.A.