Monday 5th May 2025: Resignation-of-Co-Founder.PDF

RESIGNATION OF CO-FOUNDER

PlaySide Studios Limited (ASX: PLY) today announced the resignation of Co-Founder Gerry Sakkas as Creative Director. Mr Sakkas has also resigned from the PlaySide Board.

Given the work completed in advance of his decision to step down as CEO in March 2025 and the successful completion of the Company’s restructure, the Company will not seek a replacement for his role.

Mr Sakkas remains a committed shareholder of PlaySide, and has offered to escrow approximately 90% of his existing shareholding in the Company for a period of twelve months. He is permitted to sell up to six million PLY shares prior to this time.

The Board wishes to thank Gerry for his contribution to establishing PlaySide as a leading Australian video game developer and publisher.

Source: Resignation-of-Co-Founder.PDF [8:27am]

Also: Final-Director's-Interest-Notice.PDF [9:49am]

And: Notice-of-Initial-Substantial-Holder.PDF [3:43pm; Restrictions on the disposal of shares under the voluntary escrow arrangements that were entered into with Gerry Sakkas].

New all-time low of 10.5 cps hit during the day before PLY closed at a new all-time low closing share price of 13.5 cps.

Was once a darling here, like EVS, LBL, 8CO, AVA, ALC, 3DP... All have terrible 5 year charts.

Don't believe the hype, especially when it's coming from the company's own management; instead examine their track record of capital allocation decisions and whether or not they have delivered on what they said they would do and achieve. And don't keep giving them more time. When a thesis is busted, it's busted.

Disc: Not held.