REG - XLMedia PLC - Result of General Meeting

XLMediaAnnouncement

07/11/2024 09:45

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RNS Number : 3606L  XLMedia PLC  07 November 2024

 

7 November 2024

 

XLMedia PLC

("XLMedia" or the "Group" or the "Company" or the "Business")

 

Result of General Meeting for North America Disposal

 

XLMedia (AIM: XLM), a sports and gaming digital media company, is pleased to
announce that the ordinary resolution to approve the proposed divestment of
the Group's North America Business (the "North America Disposal") proposed at
the General Meeting of the Company held earlier today was duly passed.

 

The full text of the resolution can be found in the Notice of General Meeting,
which is contained on page 22 of the circular published and issued to
shareholders on 21 October 2024 and is available on the Company's website
at: https://www.xlmedia.com/investors/reports-and-documents/
(https://www.xlmedia.com/investors/reports-and-documents/)

 

It is expected that completion of the North America Disposal will take place
on Wednesday 13 November 2024.

 

The full proxy results can also be found on the Company's website at:

https://www.xlmedia.com/investors/reports-and-documents/
(https://www.xlmedia.com/investors/reports-and-documents/)

 

 

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/)

 

About XLMedia

 

XLMedia (AIM: XLM) is a sports 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 in regulated
markets which are designed to reach passionate people with the right content
at the right time.

 

Following completion of the North America Disposal, XLMedia will 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 does not propose to seek 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 and a
significant proportion of the consideration from the disposals has been
distributed to shareholders.

 

As the Company does not propose to make an acquisition that constitutes a
reverse takeover under AIM Rule 14 or become an investing Company,
Shareholders should be aware that, in accordance with AM 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.

 

 

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