This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. Upon the publication of this announcement, this information is now considered to be in the public domain.
21 March 2025
XLMedia PLC
("XLMedia" or the "Group" or the "Company" or the "Business")
Update on Performance Related Consideration from Sale of North America Business
XLMedia (AIM: XLM) is providing an update on the performance related consideration payable following the disposal of the assets that constituted the Company's North America Business to Sportradar AG in November 2024 (the "North America Disposal").
The consideration for the North America Disposal was up to $30.0 million in cash, of which $20.0 million was payable on Completion with the balance of up to a further $10.0 million payable in April 2025 based on actual revenue and gross profit performance of the North America Business for the financial year ending 31 December 2024 against target for the same period.
The Company notes that Sportradar AG has announced that the performance related element of the consideration will be $1.0 million.
In addition, the Group is due to receive $7.5 million on 1 April 2025 in relation to the Group's European assets which was completed in April 2024 (the "Europe Disposal") from Gambling.Com Group Limited. It is also eligible for an earnout payment of up to $5.0 million in respect of the Europe disposal, also payable in April 2025. The Company will provide an update in respect of the performance related element of the Europe Disposal in due course.
The confirmed earnout under the North American Disposal together with the expected earn out consideration under the Europe Disposal is expected to remain in line with previous guidance given at the time of the Tender Offer that estimated that the aggregate earnout amount across both disposals would be between $3 million and $5 million.
For further information, please contact:
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XLMedia plc David King, Chief Executive Officer
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ir@xlmedia.com
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| Cavendish Capital Markets Limited (Nomad and Broker) Giles Balleny / Callum Davidson (Corporate Finance) Charlie Combe (Corporate Broking) | Tel: 020 7220 0500 |
About XLMedia
XLMedia (AIM: XLM) has recently disposed of its sports and gaming digital media operations.
Forward Looking Statements
This announcement contains forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. They are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
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