Establishment of Employee Benefit Trust

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. Harry Miller, Executive Chairman Douglas Morin, Chief Executive Officer Daniel Widdicombe, Chief Financial Officer	[e-mail]
Zeus (Nominated Adviser and Broker) Richard Darlington, Daniel Harris (Investment Banking) Benjamin Robertson (Equity Capital Markets)	[phone]
FTI Consulting (Communications Adviser) Jamie Ricketts / Dwight Burden / Valerija Cymbal / Usama Ali	[e-mail] +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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