REG - XLMedia PLC - Update on Performance Related Consideration

XLMediaAnnouncement

21/03/2025 07:30

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RNS Number : 6510B  XLMedia PLC  21 March 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.

 

21 March 2025

 

XLMedia PLC

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

 

Update on Performance Related Consideration from Sale of North America
Business

XLMedia (AIM: XLM) is providing an update on the performance related
consideration payable following the disposal of the assets that constituted
the Company's North America Business to Sportradar AG in November 2024 (the
"North America Disposal").

The consideration for the North America Disposal was up to $30.0 million in
cash, of which  $20.0 million was payable on Completion with the balance of
up to a further $10.0 million payable in April 2025 based on actual revenue
and gross profit performance of the North America Business for the financial
year ending 31 December 2024 against target for the same period.

The Company notes that Sportradar AG has announced that the performance
related element of the consideration will be $1.0 million.

In addition, the Group is due to receive $7.5 million on 1 April 2025 in
relation to the Group's European assets which was completed in April 2024 (the
"Europe Disposal") from Gambling.Com Group Limited. It is also eligible for an
earnout payment of up to $5.0 million in respect of the Europe disposal,
also payable in April 2025. The Company will provide an update in respect of
the performance related element of the Europe Disposal in due course.

The confirmed earnout under the North American Disposal together with the
expected earn out consideration under the Europe Disposal is expected to
remain in line with previous guidance given at the time of the Tender Offer
that estimated that the aggregate earnout amount across both disposals would
be between $3 million and $5 million.

 

 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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