REG - XLMedia PLC - Disposal of Personal Finance Assets

XLMediaAnnouncement

06/06/2023 07:00

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RNS Number : 6721B  XLMedia PLC  06 June 2023

6 June 2023

XLMedia PLC

("XLMedia" or the "Company")

 

Disposal of Personal Finance Assets

 

XLMedia (AIM: XLM), a leading global digital media company, today announces
that it has sold the domain and website, MoneyUnder30, for $675,000. This now
completes the disposal of the Group's entire Personal Finance asset portfolio
which, together with the sale of DoughRoller and previously announced
disposals, realised a total cash consideration of $2.05 million (the
"Disposals"). The cash generated from the Disposals will be utilised in the
day-to-day operations of the business.

 

As previously stated, the Disposals are in line with the Company's strategy to
exit non-core activities, and focus on the Group's Sports and Gaming
divisions. The Group continues to drive expansion of its North American Sports
footprint, and is refining and developing its EU Sports portfolio and Gaming
assets in selected markets, including the US.

 

In the year ended 31 December 2022, the assets relating to the Personal
Finance division generated revenues of $1.9 million and EBITDA loss of $1.3
million.

 

The Personal Finance assets owned by XLMedia Publishing Limited and Webpals
Systems SC Limited, subsidiaries of XLMedia plc, were excluded from continuing
operations as disclosed in the Company's year ended 31 December 2022 results
and have no impact on earnings in the current financial year.

 

Following the sale of MoneyUnder30 to Northern Lights Media, the sale process
is complete.

 

 

For further information, please contact:

 

 XLMedia plc

 David King, Chief Executive Officer                          ir@xlmedia.com (mailto:ir@xlmedia.com)

 Caroline Ackroyd, Chief Financial Officer                    via Vigo Consulting

 www.xlmedia.com (http://www.xlmedia.com/)

 Vigo Consulting                                              Tel: 020 7390 0233

 Jeremy Garcia / Fiona Hetherington / Kendall Hill

 www.vigoconsulting.com (http://www.vigoconsulting.com/)

 Cenkos Securities plc (Nomad and Broker)                     Tel: 020 7397 8900

 Giles Balleny / Max Gould

 www.cenkos.com (http://www.cenkos.com/)

 

 

About XLMedia:

XLMedia (AIM: XLM) is a leading global digital media company that creates
compelling content for highly engaged audiences and connects them to relevant
advertisers.

 

The Group manages a portfolio of premium brands with a primary emphasis on
Sports and Gaming in regulated markets. XLMedia brands are designed to reach
passionate people with the right content at the right time.

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