5 July 2022
Legal grounds: Article 17 (1) of the MAR – confidential information
Report:
The Ten Square Games S.A. seated in Wrocław (hereinafter “Company) management board hereby informs that on July 4th, 2022, it has made the decision to terminate production on one of the company’s games—Football Elite. The decision was made as an effect of a June analysis of marketing costs in relation to market potential and player engagement among players testing the game. In the Board’s opinion, optimizing the project would take many months, and the costs would be disproportionate to the potential revenue and size of this type of game segment.
As of 30.06.2022, the value of the capitalized costs related to the production of Football Elite amounted to PLN 8.5m. The Company will recognize an impairment loss on an intangible asset in the same amount dated 30.06.2022.