Profil:
PCF Group SAPCF gaming completes strategic options review, fails to attract PLN 350 mln financing
Listed games developer PCF Group has completed a review of strategic options, as a result of which the company failed to attract new financing of approximately PLN 350 million (EUR 82.2 mln), which was deemed necessary to maintain the group's current scale of operations in the area of self-publishing projects, PCF said in a market filing.
As stated, the failure to obtain financing makes it impossible for the company to implement its strategy in its current dimension.
In view of this, it has been decided to take immediate steps to improve the group's financial situation and liquidity by bringing about a balancing of financial flows, in particular by balancing capital expenditure incurred in the development of operations in the segment of production and publishing of own games with proceeds from the segment of production of games on a contract basis (work-for-hire).
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