Gravity to Effect 2-for-1 American Depositary Shares(“ADS”) Split
August 27 2018 - 6:30AM
Seoul, South Korea – August 27, 2018 – Gravity Co., Ltd. (NasdaqCM:
GRVY) (“Gravity” or “Company”), a developer and publisher of online
and mobile games based in South Korea, announced that it will
effect a ratio change of its American Depositary Share (“ADS”)
previously approved by the company’s board of directors at a
meeting held on July 27, 2018. The company is changing the ratio of
its ADS to common shares from one ADS to two common shares (1:2) to
one ADS to one common share (1:1), effective at the start of
trading on Tuesday, August 28, 2018. The ratio change will have the
same effect as a 2-for-1 split of its ADSs.As a result of this
ratio change, the total number of ADSs outstanding will be
increased from 1,644,852 to approximately 3,289,704 and there will
be no change to its common shares.
About GRAVITY Co., Ltd.Based in
Korea, Gravity is a developer and publisher of online and mobile
games. Gravity's principal product, Ragnarok Online, is a popular
online game in many markets, including Japan and Taiwan, and is
currently commercially offered in 81 markets and countries. For
more information about Gravity, please visit
http://www.gravity.co.kr.
Forward-Looking
Statements:Certain statements in this press release may
include, in addition to historical information, "forward-looking
statements" within the meaning of the "safe-harbor" provisions of
the U.S. Private Securities Litigation Reform Act 1995.
Forward-looking statements can generally be identified by the use
of forward-looking terminology, such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe", "project," or
"continue" or the negative thereof or other similar words, although
not all forward-looking statements contain these words. Investors
should consider the information contained in our submissions and
filings with the United States Securities and Exchange Commission
(the "SEC"), including our annual report for the fiscal year ended
December 31, 2017 on Form 20-F, together with such other documents
that we may submit to or file with the SEC from time to time, on
Form 6-K. The forward-looking statements speak only as of this
press release and we assume no duty to update them to reflect new,
changing or unanticipated events or circumstances.
Contact:
Mr. Heung Gon Kim Chief Financial Officer
Gravity Co., Ltd. Email: kheung@gravity.co.kr
Ms. Sang Eun Sung IR Manager Gravity Co.,
Ltd. Email: ir@gravity.co.kr Telephone: +82-2-2132-7800
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