Home Meeting notice DoubleDown Interactive will organize an extraordinary general

DoubleDown Interactive will organize an extraordinary general

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SEATTLE, July 21 2022 (GLOBE NEWSWIRE) — DoubleDown Interactive (NASDAQ: DDI) (“DoubleDown” or the “Company”), a leading developer and publisher of digital social casino games, today announced that it will hold a Extraordinary General Meeting of Shareholders (the “EGM”) at 152 Teheran-Ro, 13th Floor, Gangnam-gu, Seoul on August 26, 2022 at 11:00 a.m. KST or August 25, 2022 at 10:00 p.m. 00 Eastern Time.

At the EGM, the Board of Directors of the Company (the “Board”) will present the following resolutions:

  • to re-elect each of In Keuk Kim, Joseph A. Sigrist, Ki Chul Kim and Haenam Kim (each a current director of the Company whose term expires in November 2022 and before the next annual general meeting of the Company in 2023), as a director of the Company for a new term of three years beginning on August 26, 2022 and ending on August 25, 2025;
  • to elect Whanlim Kim as an independent non-executive director of the Company for a term of three years beginning on August 26, 2022 and ending on August 25, 2025; and
  • to approve the reduction of the capital reserve of the Company by an amount of KRW 70,000,000,000 in accordance with Article 461-2 of the Korean Commercial Code.

The Board of Directors has fixed the close of business on August 3, 2022, U.S. Eastern Time, as the record date (the “Record Date”) for determining shareholders entitled to receive notice and to attend and vote at the EGM or at any adjourned or postponed general meeting. meeting in accordance with the Articles of Association currently in force. Holders of American Depositary Shares (“ADSs”), each representing 0.05 of an ordinary share of the Company, who wish to attend the EGM in person or vote at the EGM, must surrender their ADSs to Citibank, NA, the depositary of the ADSs (the “Depositary”), for the cancellation and exchange of their ADSs for the underlying ordinary shares, such cancellation and exchange to be effected prior to the record date. Otherwise, holders of ADSs on the record date may not attend in person or vote at the EGM, and instead will be required to instruct the depositary how to vote the ordinary shares represented by the ADSs after receipt of notice and voting instructions. from Citibank, NA, which will be mailed on or about August 11, 2022.

The company’s other two non-executive independent directors, Yanghoon Cho and Jaesung Chung, are not eligible for re-election at this time. Their current three-year term will expire in May 2023. If elected by the required shareholder vote at the EGM, the board plans to appoint Whanlim Kim as the third independent director on the audit committee.

About DoubleDown Interactive

DoubleDown Interactive Co., Ltd. is a leading developer and publisher of digital games on mobile and web platforms. We are the creators of multi-format interactive entertainment experiences for casual gamers, bringing authentic Vegas entertainment to gamers around the world through an online social casino experience. Our flagship title, DoubleDown Casino, has been a fan-favorite game on major social and mobile platforms for years, entertaining millions of players worldwide with a range of classic and modern games.

Company Contact:
Joe Sigrist
[email protected]
+1 (206) 773-2266
Financial director
https://www.doubledowninteractive.com

Contact with Investor Relations:
Cody Slach or Jeff Grampp, CFA
Gateway group
1-949-574-3860
[email protected]