XLMedia PLC Completion of North America Disposal
November 13 2024 - 5:13AM
RNS Regulatory News
RNS Number : 0985M
XLMedia PLC
13 November 2024
13 November 2024
XLMedia PLC
("XLMedia" or the "Group" or the "Company" or the
"Business")
Completion of North America
Disposal
XLMedia (AIM: XLM), a sports and
gaming digital media company, is pleased to announce it has today
completed the sale of the Group's North America Business (the
"North America Disposal")
to Sportradar AG, following receipt of $20 million payable at
completion.
Following completion of the North
America Disposal, XLMedia has become an AIM Rule 15 Cash Shell and
does not propose to make an acquisition that constitutes a reverse
takeover under AIM Rule 14 or become an investing company. However,
the Board is not seeking the cancellation of the Company's
admission to trading on AIM at this point as it believes that it is
in the best interests of shareholders that the Company
remains admitted to trading until the final consideration payments
from each of the disposal of the Group's Europe and Canada sports
betting and gaming assets to Gambling.com Group Limited in April
2024 and the North America Disposal are received. The Company will
provide further information regarding the on-going cost of winding
the business down, trading as it relates to the potential earn outs
and information regarding an initial distribution from proceeds of
sale, in due course.
Shareholders should be aware that,
in accordance with AIM Rule 15, it is expected that trading in the
Ordinary Shares of the Company will be suspended on or around 13
May 2025. The Company will then have a further six months following
the date of suspension before the Company's admission to trading on
AIM is cancelled. The Directors' current expectation is that the
Company will have taken steps to effect cancellation of its
admission to trading on AIM by this time.
For
further information, please contact:
XLMedia plc
David King, Chief Executive
Officer
Peter McCall, Company Secretary and
General Counsel
www.xlmedia.com
|
ir@xlmedia.com
|
Cavendish Capital Markets Limited (Nomad and
Broker)
Giles Balleny / Callum Davidson
(Corporate Finance)
www.cavendish.com
|
Tel: 020 7220 0500
|
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END
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