REG - XLMedia PLC - Completion of North America Disposal

XLMediaAnnouncement

13/11/2024 10:15

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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                                           ir@xlmedia.com

 David King, Chief Executive Officer

 Peter McCall, Company Secretary and General Counsel

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

 Cavendish Capital Markets Limited (Nomad and Broker)  Tel: 020 7220 0500

 Giles Balleny / Callum Davidson (Corporate Finance)

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

 

 

 

 

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