Minority investors group from 11 bit studios seeks appointment of special auditor
businesses: 11 bit studios
- A group of minority shareholders from 11 bit studios is calling for the appointment of a special auditor to investigate the closure of 'Project 8'.
- The Association of Individual Investors is involved and has sent a letter regarding 11 bit studios to the Financial Supervision Authority (KNF).
- The KNF confirmed receipt of the letter and is monitoring the situation, emphasizing the importance of industry associations in ensuring market integrity.
- Recent months have been challenging for 11 bit studios, with stock prices falling after the disappointing release of 'Frostpunk 2' and the decision to halt 'Project 8'.
- The minority shareholders aim to clarify uncertainties related to Project 8 and ensure accurate reporting by the company.
- As of now, they have gathered around 80,000 shares (over 3% of capital) and aim to surpass 5% ownership.
- The company has also announced plans to publish a new game 'Death Howl' in 2025.
Find out the mood, impact, relevance and relevant interest groups
Analyses of the article
SENTIMENT
The article highlights challenges faced by 11 bit studios, including falling stock prices and the closure of a project, indicating a negative sentiment.
IMPACT
Short
The impacts are noticeable within a short period due to the immediate concerns raised by minority shareholders and the involvement of regulatory authorities.
RELEVANCE
Moderate
The article is moderately relevant as it pertains to a specific company and its shareholders rather than a broader audience.
STAKEHOLDER
businesses
The primary focus is on the business aspect, particularly the actions of minority shareholders and the company's response to their concerns.