DoubleDown Interactive Announces Results of Extraordinary General Meeting Held on December 28, 2022

Rhea-AI Summary

On December 28, 2022, at an extraordinary general meeting, DoubleDown Interactive (NASDAQ: DDI) announced approval to reduce its capital reserve by KRW 330 billion, as per Article 461-2 of the Korean Commercial Code. This decision, supported by shareholders of record as of December 5, 2022, marks a significant move in the company’s financial strategy. DoubleDown Interactive is known for creating engaging digital games on mobile and web platforms, including their popular title, DoubleDown Casino.

Positive

• Shareholders approved the capital reserve reduction of KRW 330 billion.
• The decision aligns with corporate financial strategy, potentially enhancing shareholder value.

Negative

• None.

SEATTLE, Dec. 28, 2022 (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, today announced that at the extraordinary general meeting of shareholders (the “EGM”) held on December 28, 2022 at 11:00 a.m. (Korea Standard Time), or December 27, 2022 at 9:00 p.m. (U.S. Eastern Time), in Seoul, Korea, the shareholders of record as of December 5, 2022, approved the reduction of the Company’s capital reserve in the amount of KRW 330 billion pursuant to Article 461-2 of the Korean Commercial Code, as originally proposed by the Company’s board of directors.

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:
Cody Slach or Jeff Grampp, CFA
Gateway Group
1-949-574-3860
DDI@gatewayir.com

FAQ

What was approved during the shareholder meeting of DoubleDown Interactive on December 28, 2022?

The shareholders approved a capital reserve reduction of KRW 330 billion.

What is the significance of the capital reserve reduction for DoubleDown Interactive?

The reduction may enhance shareholder value and improve financial flexibility.

What is the stock symbol for DoubleDown Interactive?

The stock symbol for DoubleDown Interactive is DDI.

When was DoubleDown Interactive's extraordinary general meeting held?

The extraordinary general meeting was held on December 28, 2022.