REG - XLMedia PLC - Update on Earnout Consideration

XLMediaAnnouncement

02/04/2025 07:04

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RNS Number : 2400D  XLMedia PLC  02 April 2025

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.

 

2 April 2025

XLMedia PLC

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

 

 Update on Consideration Received from Divestment of Europe and Canada Assets

XLMedia (AIM: XLM) is providing an update on the receipt of consideration
payable following the disposal of the Group's Europe and Canada sports and
betting gaming assets to Gambling.com Group Limited ("GAMB",
the "Purchaser") in April 2024 (the "Transaction").

The consideration for the Transaction was up to $42.5 million in cash,
comprising a fixed sum of $37.5 million payable in three instalments ("Fixed
Consideration") plus a potential earnout of up to $5.0 million based on
revenue performance ("Earnout Consideration"). Both the final element of the
Fixed Consideration and the Earnout Consideration were payable on the first
anniversary of the completion of the Transaction.

The Group confirms that on 1 April 2025 it received $7.5
million representing the final element of the Fixed Consideration, together
with $3.7 million in respect of the Earnout Consideration.

 

 For further information, please contact:

 XLMedia plc                                           ir@xlmedia.com

 David King, Chief Executive Officer

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

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

 Giles Balleny / Callum Davidson (Corporate Finance)

 Charlie Combe (Corporate Broking)

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

 

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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