XLMedia PLC on December 23 said its board members intend to stay with the business until June 30, as it progresses its ongoing wind down.
The London-based sports digital media company became a cash shell in November, following the sale of its North America business to Sportradar AG for $30 million, and having also sold its European and Canadian assets to Gambling.com Group Ltd earlier in the year for a total of $42.5 million.
The business is now focused on distributing disposal proceeds among its shareholders.
Board members intend to remain in place until the end of June to oversee this return of capital and to prepare the company for liquidation.
XLMedia shares are due to be suspended from trading on AIM on May 13.
Chair Marcus Rich, Senior Independent Director Julie Markey and Founder Ory Weihs will leave on June 30 after working their contractual notice periods, and Chief Executive Officer David King will be made redundant as a result of the asset sale, also working his notice period until June 30.
Company Secretary & General Counsel Peter McCall will join the board this month on a reduced time basis to oversee the group to June and beyond, alongside Non-Executive Director Cedric Boireau.
Shares in XLMedia were down 1.5% at 9.16 pence each in London on Friday morning.
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