REG - XLMedia PLC - Disposal of Personal Finance Assets

XLMediaAnnouncement

30/05/2023 07:15

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RNS Number : 8960A  XLMedia PLC  30 May 2023

30 May 2023

XLMedia PLC

("XLMedia" or the "Company")

 

Disposal of Personal Finance Assets

 

XLMedia (AIM: XLM), a leading global digital media company, today announces
the part disposal of the Group's Personal Finance assets for a total cash
consideration of $1.3 million (the "Disposal"). The Disposal comprises domains
and websites including Investor Junkie, Greedy Rates and Young and Thifty
owned by XLMedia Publishing Limited and Webpals Systems SC Limited,
subsidiaries of XLMedia plc.  The cash generated from the Disposal will be
utilised in the day-to-day operations of the business.

 

The Disposal is in line with the Company's strategy to exit non-core
activities while focussing on the Group's Sports and Gaming business,
expanding its North American Sports footprint, while also refining and
developing the Group's EU Sports portfolio, and the Group's 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 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 these assets to MPD Media, the process to sell the
remaining Personal Finance assets is at an advanced stage, but there is no
certainty that a transaction or transactions will complete.

 

The Company will update the market when appropriate.

 

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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