REG - Devolver Digital - Establishment of Employee Benefit Trust

Devolver DigitalAnnouncement

16/05/2022 07:00

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RNS Number : 4961L  Devolver Digital, Inc.  16 May 2022

 

DEVOLVER DIGITAL, INC.

(the "Company" or "Devolver Digital")

 

Establishment of Employee Benefit Trust

 

Devolver Digital (AIM: DEVO), an award-winning digital publisher and developer
of indie video games, announces that it has established an Employee Benefit
Trust, known as the Devolver Digital Employee Benefit Trust (the "EBT"). The
EBT will be for the benefit of current and future employees.

 The EBT, which will act independently of the Company, is expected to conduct
off-market purchases of the Company's common shares of $0.0001 each in order
to, among other things, satisfy potential future option exercises of vested
options granted pursuant to the Company's 2017 Equity Incentive Plan and to
satisfy the settlement of any other awards granted pursuant to the Company's
current and future incentive award schemes.

The EBT will be funded by way of a loan from the Company. The maximum amount
of the loan to be made available to the EBT at any time shall be capped at
£10,000,000.

 

Enquiries

 

 Devolver Digital, Inc.                                         ir@devolverdigital.com (mailto:ir@devolverdigital.com)

 Harry Miller, Executive Chairman

 Douglas Morin, Chief Executive Officer

 Daniel Widdicombe, Chief Financial Officer

 Zeus (Nominated Adviser and Broker)                            +44 (0)20 3829 5000

 Richard Darlington, Daniel Harris (Investment Banking)

 Benjamin Robertson (Equity Capital Markets)

 FTI Consulting (Communications Adviser)                        devolver@fticonsulting.com (mailto:devolver@fticonsulting.com)

 Jamie Ricketts / Dwight Burden / Valerija Cymbal / Usama Ali   +44 (0)20 3727 1000

 

About Devolver Digital

 

Devolver Digital is an award-winning video games publisher in the indie games
space with a balanced portfolio of third-party and own-IP. Devolver has an
emphasis on premium games and has published more than 90 titles, with more
than 30 titles in the pipeline scheduled for release over the next two years
and beyond. Devolver has in-house studios developing first-party IP titles and
a complementary publishing brand. Devolver is registered in Wilmington,
Delaware, USA.

 

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