Devolver Digital, Inc. Establishment of Employee Benefit Trust (4961L)
May 16 2022 - 2:00AM
UK Regulatory
TIDMDEVO
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 GBP10,000,000.
Enquiries
Devolver Digital, Inc. ir@devolverdigital.com
Harry Miller, Executive Chairman
Douglas Morin, Chief Executive Officer
Daniel Widdicombe, Chief Financial Officer
Zeus (Nominated Adviser and Broker)
Richard Darlington, Daniel Harris (Investment Banking)
Benjamin Robertson (Equity Capital Markets) +44 (0)20 3829 5000
FTI Consulting (Communications Adviser) 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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