11 March 2022
The Management Board (“Management Board”) of Ten Square Games S.A. with its registered seat in Wrocław (“Issuer”) informs that on March 11, 2022 the Issuer entered into an investment and shareholders agreement (“Agreement”) with the existing shareholders of Gamesture sp. z o.o. with its registered seat in Poznań (“Gamesture”). Pursuant to the Agreement, the Issuer acquired a minority interest in the share capital of Gamesture, representing 24.80% of the share capital and conferring the right to 24.80% of the total vote at the shareholders’ meeting of Gamesture, by way of purchase of a portion of the existing shares from one of the existing shareholders and acquisition of new shares in the increased share capital of Gamesture (the “Transaction”).
The total amount of the Issuer’s investment in Gamesture is approximately U.S. $3,500,000. The existing shareholders have granted to the Issuer a call option in the Agreement which allows the Issuer to increase its ownership in Gamesture after three years and after five years from the date of the Transaction, at a price to be determined in accordance with the procedure set forth in the Agreement, up to 100% of the issued and outstanding share capital of Gamesture.
The Agreement provides for a non-compete for the existing shareholders during the period of ownership of the shares in Gamesture.
Gamesture is a company specializing in the RPG genre with a team of 68 people operating from studios in Krakow and Poznan, Poland. The company was founded in 2014 and currently its two main titles are: Questland, set in a fantasy world and featuring a turn-based combat system, and Slash & Roll, based on the PvP (player vs. player) team combat model – both of which are gaining popularity among role-playing game fans. Two other Gamesture titles are currently in production.