Only 10% were opposed.
Cult of the Lamb
Recall, indie publisher Devolver Digital announced plans to become a private company again a month ago — after five years of trading on the Alternative Investment Market (AIM) at the London Stock Exchange. Back then, Devolver Digital’s management explained this decision by citing the instability in the gaming industry. They stated that it's hard to grow under such conditions, and also noted that in recent years, the publisher's stock price had plummeted and no longer reflected its true value.
It is anticipated that relinquishing public company status will allow Devolver Digital to save approximately $1.6 million a year.
Apparently, the overwhelming majority of Devolver Digital shareholders agreed with the arguments presented by the top managers. Consequently, if no unexpected obstacles arise, the publisher will leave the stock market the day after tomorrow, on September 16.
Simultaneously with the vote, Devolver Digital conducted a buyback. The company repurchased 4.71% of its shares for $5 million. As noted by InvestGame, this increased the share owned by the company’s founders in Devolver Digital from 31.45% to 33%.