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:
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XLMedia plc David King, Chief Executive Officer Peter McCall, Company Secretary and General Counsel
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ir@xlmedia.com
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| Cavendish Capital Markets Limited (Nomad and Broker) Giles Balleny / Callum Davidson (Corporate Finance) | Tel: 020 7220 0500 |
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