GDEV Inc. (NASDAQ:GDEV), an international gaming and entertainment company ("GDEV" or the "Company"), today issued a clarifying statement regarding its former director and current minority shareholder, Ivan Tavrin.
On December 12, 2023, the U.S. Department of Treasury's Office of Foreign Assets Control added Ivan Tavrin to its Specially Designated Nationals and Blocked Persons List ("SDN List") pursuant to Executive Order 14024. Based on information reported in a Schedule 13G filed on February 15, 2023, Ivan Tavrin holds sole voting power over the Company's ordinary shares held by Kismet Sponsor Limited (11,750,000 ordinary shares), constituting 5.9% of all outstanding shares of the Company.
GDEV wishes to reassure its shareholders, business partners, and other stakeholders that the sanctions imposed on its former member of the Board of Directors and minority shareholder have no direct impact on the Company, its business operations or processes, and does not adversely affect its other shareholders. Given his minority stake in the Company, Ivan Tavrin does not exert either control or influence on the Company. Ivan Tavrin resigned from the GDEV Board of Directors at the Annual General Meeting held on August 26, 2022, and ceased to interact with the Board or management of GDEV.
In March 2023, GDEV shares resumed trading on Nasdaq after a suspension imposed in February 2022. This reinstatement was achieved through demonstrating our rigorous adherence to the high standards set by Nasdaq and the Securities and Exchange Commission (SEC), including relocation of staff and severing any nexus to Russia. GDEV's commitment to implementing best practices in corporate governance is evidenced by a Board of Directors consisting of five Independent Non- Executive Directors out of seven directors in total. Three of the independent non executive directors are women, including the chairperson of the Board.