March 22, 2018 / 2:38 PM / in 3 months

BRIEF-Playway Signs Investment Agreement Regarding Frozen District

March 22 (Reuters) - PLAYWAY SA:

* SAID ON WEDNESDAY THAT IT SIGNED INVESTMENT AGREEMENT WITH KRZYSZTOF KREJ (PARTNER)

* AS PART OF AGREEMENT COMPANY IS TO RECAPITALISE FROZEN DISTRICT SP. Z O.O. (FROZEN) AND TRANSFORM IT INTO JOINT-STOCK COMPANY

* CO AND PARTNER ARE ALSO TO ACQUIRE 1,835 SHARES IN INCREASED SHARE CAPITAL OF FROZEN (INCREASED TO 0.5 MLN ZLOTYS FROM 26,500 ZLOTYS)

* AFTER INCREASE IN SHARE CAPITAL COMPANY TO OWN 80 PERCENT OF FROZEN’S SHARES AND PARTNER TO OWN 20 PERCENT OF FROZEN’S SHARES

* FROZEN CREATES COMPUTER GAMES, INCLUDING ‘HOUSE FLIPPER’ GAME TO WHICH PROPRIETARY COPYRIGHTS HAVE PLAYWAY AND PARTNER

* THEY PLAN TO TRANSFER THE COPYRIGHTS ONTO FROZEN

* PLAYWAY HAS ALSO SIGNED AN AGREEMENT WITH FROZEN FOR DISTRIBUTION OF ‘HOUSE FLIPPER’ GAME ON PCS EXCLUDING STEAM AND PLANNED VERSIONS OF THE GAME FOR X1 AND PS4

* PREMIERE OF ‘HOUSE FLIPPER’ GAME ON PC (STEAM) IS PLANNED FOR APRIL 12

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Further company coverage: (Gdynia Newsroom)

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