STOCK TITAN

DoubleDown Interactive Announces Results of 2023 Annual General Meeting

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) held its annual general meeting on March 29, 2023, in Seoul, Korea. Key resolutions included the approval of the 15th financial statements for FY 2022 and the amendment to the business purposes in the Articles of Incorporation. Shareholders rejected a proposal for a $50 million cash dividend. Additionally, Yanghoon Cho and Jaesung Chung were re-elected as independent directors for a three-year term. The remuneration limit for independent directors and executive officers was set at KRW 5 billion for FY 2023. Samil PricewaterhouseCoopers was ratified as the independent accounting firm for 2023-2025.

Positive
  • Approval of the 15th financial statements for FY 2022.
  • Successful re-election of independent directors Yanghoon Cho and Jaesung Chung.
  • Amendment to the Articles of Incorporation aligns with business expansion.
Negative
  • Rejection of the $50 million cash dividend proposal.

SEATTLE, March 29, 2023 (GLOBE NEWSWIRE) -- DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) (“DoubleDown” or the “Company”), a leading gaming company, delivering unique player experiences across a variety of genres, announced today that at the annual general meeting of shareholders (the “AGM”) held on March 29, 2023 at 11:00 a.m., Korea Standard Time (March 28, 2023 at 10:00 p.m., U.S. Eastern Time) in Seoul, Korea, the following actions were taken by the shareholders of record as of December 31, 2022 on the proposed resolutions:

  1. Approval of the 15th financial statements for the fiscal year ended December 31, 2022;
  2. Rejection of the shareholder proposal for a declaration of a cash dividend in the aggregate amount of $50,000,000 as proposed by STIC Special Situation Diamond Limited;
  3. Approval of the amendment to business purposes of the Company under Chapter I, Article 2 of the Company’s Articles of Incorporation;
  4. Re-election of each of Yanghoon Cho and Jaesung Chung (whose current terms will expire in May 2023) as a non-executive independent director of the Company for a new three-year term commencing on May 20, 2023 and ending on May 20, 2026;
  5. Approval of the aggregate remuneration limit of KRW5,000,000,000 for independent directors and executive officers for the fiscal year ending December 31, 2023; and
  6. Ratification of the appointment of Samil PricewaterhouseCoopers as the independent registered public accounting firm of the Company for the fiscal years ending December 31, 2023, 2024 and 2025.

About DoubleDown Interactive

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

Company Contact:
Joe Sigrist
ir@doubledown.com
+1 (206) 773-2266
Chief Financial Officer
https://www.doubledowninteractive.com

Investor Relations Contact:
Alex Thompson
Gateway Group
1-949-574-3860
DDI@gatewayir.com


FAQ

What significant decisions were made at DoubleDown Interactive's AGM on March 29, 2023?

At the AGM, DoubleDown Interactive approved the FY 2022 financial statements, rejected a proposal for a $50 million cash dividend, and re-elected independent directors.

What is the status of DoubleDown Interactive's cash dividend for 2023?

DoubleDown Interactive shareholders rejected the proposed cash dividend of $50 million during the AGM.

Who were re-elected as independent directors at DoubleDown Interactive's AGM?

Yanghoon Cho and Jaesung Chung were re-elected as independent directors for a new three-year term.

What is DoubleDown Interactive's financial remuneration limit for directors in 2023?

The remuneration limit for independent directors and executive officers was approved at KRW 5 billion for the fiscal year 2023.

Which accounting firm was appointed for DoubleDown Interactive for 2023-2025?

Samil PricewaterhouseCoopers was ratified as the independent registered public accounting firm for the fiscal years 2023, 2024, and 2025.

DoubleDown Interactive Co., Ltd. American Depository Shares

NASDAQ:DDI

DDI Rankings

DDI Latest News

DDI Stock Data

735.87M
2.48M
0.57%
28.93%
0.21%
Electronic Gaming & Multimedia
Communication Services
Link
United States of America
Seoul