REG - XLMedia PLC - Update

XLMediaAnnouncement

20/01/2020 16:00

RNS Number : 3644A
XLMedia PLC
20 January 2020
 





 20 January 2020
 
XLMedia PLC
("XLMedia" or the "Group" or the "Company")
 
Update
 
XLMedia (AIM: XLM) provides the following update concerning the Google ranking of a number of its online casino sites which has currently resulted in a significant decrease in traffic to those sites.
 
On 18 January 2020, the Company became aware that a number of its casino sites have been manually demoted by Google, which impacts the visibility of the sites and their ability to generate meaningful levels of online traffic, and hence revenues, from new visitors. 
 
Whilst it is too early to accurately assess the financial impact of this action by Google, any further material delay to the full restoration of rankings of these online assets would result in a corresponding reduction of both revenue and adjusted EBITDA during that period.
 
The Company confirms that the Group's other online publishing assets remain unaffected.
 
A process of review is now taking place, with a view to resolving any issue as soon as possible and the Company will provide a further update in due course as more information becomes available.
 
 
The information contained within this announcement (the "Announcement") is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this Announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
 
 
For further information, please contact:
 





XLMedia plc
Stuart Simms, Group Chief Executive Officer
Liat Hellman, Acting Group Chief Financial Officer
www.xlmedia.com
 


Via Vigo Communications




Vigo Communications
Jeremy Garcia / Fiona Henson / Fiona Norman
www.vigocomms.com
 


Tel: 020 7390 0233




Cenkos Securities plc (Nomad and Joint Broker)
Giles Balleny / Max Gould
www.cenkos.com
 


Tel: 020 7397 8900




Berenberg (Joint Broker)
Chris Bowman / Mark Whitmore / Simon Cardron www.berenberg.com


Tel: 020 3207 7800





 




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