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CI GAMES SE (34/2023) Termination of a significant agreement

By 25 August 2023No Comments

Current report number: 34/2023

Date: 16 August 2023

Legal basis: Art. 17 Section 1 of MAR – inside information

Subject: Termination of a significant agreement

The Management Board of Cl Games SE with its registered office in Warsaw (the “Company“) informs that today i.e. August 16, 2023 the Company has entered into a settlement agreement (the “Settlement“) with Batfields s.r.o., headquartered in the Czech Republic (“Batfields“), terminating the production agreement with Batfields for “Survive”, which the Company announced in current report No. 25/2021 dated October 15, 2021 (the “Agreement“). 

As of the date of the Settlement, the Company had fully satisfied payments for all work accepted from Batfields, according to the terms of the Agreement.

Pursuant to the Settlement, the Company, as the sole owner of “Survive”, has retained the intellectual property rights and is not obliged to pay any royalties to Batfields for “Survive”. The Company will also receive from Batfields all data and project documentation created under the Agreement. Pursuant to the Settlement, the parties will fully settle all debts and claims either asserted or that could have been asserted in connection with the Agreement. 

“Survive” is the next release after “Lords of the Fallen” and the Company will continue work on “Survive” by allocating internal resources to the project with the support of external partners where appropriate. “Survive” is now intended to be a much larger game than previously envisaged. 

Legal basis: Article 17 (1) in conjunction with Article 7 (1) of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of April 16, 2014 on market abuse (MAR).

Disclaimer: This English language translation may contain certain discrepancies. In case of any differences between the Polish and the English versions, the Polish version shall prevail.

CI Games SE Management Board:

Marek Tymiński – President of the Management Board 

David Broderick – Vice-President of the Management Board