Devolver Digital, Inc. Treasury Share Admission and Update (3008Z)

TIDMDEVO

RNS Number : 3008Z

Devolver Digital, Inc.

12 May 2023

12 May 2023

Devolver Digital, Inc.

("Devolver Digital", "Devolver" or the "Company", and the Company together with all of its subsidiary undertakings "the Devolver Group", or "Group")

Treasury Share Admission and Update

Devolver Digital, an award-winning digital publisher and developer of independent ("indie") video games, announces that it has applied for the admission to trading on AIM ("Admission") of 34,668,475 shares of common stock, $0.0001 par value each ("Shares"), which the Company holds in treasury (the "Treasury Shares"). The Company is applying for Admission of the Treasury Shares in order to facilitate the exercise of options and to reduce the administrative burden in satisfying LTIP and other awards. The Company may also use the Treasury Shares for other corporate purposes at its discretion.

The Admission of the Treasury Shares will not increase the total voting rights outstanding in the Company. It is expected that Admission will become effective on or around 16 May 2023.

As announced on 11 May 2022, the Company may transfer Treasury Shares to satisfy the exercise of options under the 2017 Equity Incentive Plan. The Company has also previously utilised Treasury Shares to satisfy 2022 LTIP Awards. A complete table of Treasury Share transfers is set out below:

 
 Date           Number of            Number of          Number of            Number of 
                 Treasury Shares      Treasury Shares    Treasury Shares      Shares in 
                 Prior to Transfer    Transferred        held by the          Issue and 
                                      by the Company     Company Following    Outstanding 
                                      to Satisfy         the Transfer         Following 
                                      the Exercise                            the Transfer 
                                      of Options 
                                      or LTIP Awards 
 19/05/2022     37,244,200           679,271            36,564,929           442,935,987 
               -------------------  -----------------  -------------------  -------------- 
 09/06/2022     36,564,929           430,362            36,134,567           443,366,349 
               -------------------  -----------------  -------------------  -------------- 
 01/09/2022     36,134,567           175,000            35,959,567           443,541,349 
               -------------------  -----------------  -------------------  -------------- 
 08/09/2022     35,959,567           110,833            35,848,734           443,652,182 
               -------------------  -----------------  -------------------  -------------- 
 13/10/2022     35,848,734           144,900            35,703,834           443,797,082 
               -------------------  -----------------  -------------------  -------------- 
 20/10/2022     35,703,834           9,513              35,694,321           443,806,595 
               -------------------  -----------------  -------------------  -------------- 
 03/11/2022     35,694,321           81,667             35,612,654           443,888,262 
               -------------------  -----------------  -------------------  -------------- 
 08/12/2022     35,612,654           18,990             35,593,664           443,907,252 
               -------------------  -----------------  -------------------  -------------- 
 15/12/2022     35,593,664           200,000            35,393,664           444,107,252 
               -------------------  -----------------  -------------------  -------------- 
 16/12/2022     35,393,664           455,058            34,938,606           444,562,310 
               -------------------  -----------------  -------------------  -------------- 
 23/12/2022*    34,938,606           166,840            34,771,766           444,729,150 
               -------------------  -----------------  -------------------  -------------- 
 12/01/2023     34,771,766           11,666             34,760,100           444,740,816 
               -------------------  -----------------  -------------------  -------------- 
 26/01/2023     34,760,100           91,625             34,668,475           444,832,441 
               -------------------  -----------------  -------------------  -------------- 
 

*previously described as "new" common shares in the announcement published on 16(th) December 2022, these shares were not newly issued and were a transfer of treasury shares

Following the transfer of 2,575,725 treasury shares that are outlined in the table above, the Company holds 34,668,475 shares in treasury.

Any future transfer of Treasury Shares will be announced without delay.

Following Admission, the Company's issued and outstanding share capital is unchanged and comprises 444,832,441 Shares (excluding Shares held in treasury) and this number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries :

 
 Devolver Digital, Inc.                                [e-mail] 
 Harry Miller, Executive Chairman 
 Douglas Morin, Chief Executive Officer 
 Daniel Widdicombe, Chief Financial Officer 
 
 Zeus (Nominated Adviser and Sole Broker)                 [phone] 
 Nick Cowles, Jamie Peel, Matt Hogg (Investment 
  Banking) 
 Ben Robertson (Equity Capital Markets) 
 
 FTI Consulting                                    [e-mail] 
 Jamie Ricketts / Dwight Burden / Valerija 
  Cymbal / Usama Ali                                      [phone] 
 

Devolver Digital overview

Devolver Digital is an award-winning video games publisher in the indie games space with a balanced portfolio of third-party and own-IP. The Company has an emphasis on premium games and has a back catalogue of over 100 titles, with more than 30 new titles in the pipeline. Through acquisitions, Devolver now has its own-IP franchises, in-house studios developing first-party IP and two publishing brands. The Company is registered in Wilmington, Delaware, USA.

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May 12, 2023 10:00 ET (14:00 GMT)