PlaySide Studios Limited (ASX: $PLY) share sale confirmation

PlaySide Studios Limited (ASX: $PLY) has confirmed the sale of 40 million shares by its three largest shareholders and co-founders, Gerry Sakkas, Mark Goulopoulos, and Aaron Pasias. The sell down represents 9.8% of the Company's issued capital, and the Co-founders will maintain a combined shareholding of 48.9% in the Company. The sale was conducted at a price of 75 cents per share through a block trade.

PlaySide Managing Director & CEO Gerry Sakkas on the share sale

The sell down significantly increases the free float of the Company, and we are pleased to welcome several new investors to the register at an exciting time in our journey.

PlaySide share sale summary and outlook

PlaySide Studios Limited (ASX: $PLY) has confirmed the sale of 40 million shares by its co-founders, representing 9.8% of the Company's issued capital. The Co-founders will maintain a combined shareholding of 48.9% in the Company, indicating their continued confidence in PlaySide's future. The block trade at 75 cents per share has increased the free float of the Company, allowing for the entry of new investors. PlaySide's Managing Director & CEO, Gerry Sakkas, expressed optimism about the share sale, highlighting an exciting time in the Company's journey. The confirmation of the Co-founders' intention not to sell any additional shares for at least twelve months provides stability and confidence in PlaySide's strategic direction.