YOLO Leisure & Technology PLC Update re Investment (2864Y)

TIDMYOLO

RNS Number : 2864Y

YOLO Leisure & Technology PLC

02 March 2017

YOLO Leisure and Technology plc

("YOLO" or the "Company")

Further growth investment into TVPlayer

YOLO Leisure and Technology plc, the AIM-quoted company focusing on opportunities in the technology, media and leisure sectors, announces that investee company, TVPlayer Limited ("TVPlayer"), a leading UK online livestreaming TV platform, has successfully completed an investment expansion round for working capital. The fund-raising was led by A&E Television Networks, LLC ("A&E Networks"), the US-based international TV content and channels network, and follows on with an increased valuation from the GBP5 million funding round successfully completed by TVPlayer in October last year.

Yolo is pleased to confirm that the Company made an additional investment in TVPlayer to ensure that the Company maintained its existing holding in what the Board of Yolo considers as one of the most exciting technology offerings in the European streaming marketplace.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

 
 YOLO Leisure and Technology                www.yoloplc.com 
  plc 
 Simon Robinson                  [e-mail] 
 
 Cairn Financial Advisers LLP 
 Sandy Jamieson, Emma Earl                 [phone] 
 
 Peterhouse Corporate Finance 
  Limited Sole broker 
 Eran Zucker / Lucy Williams              + 44 20 7469 0930 
 
 Walbrook PR Ltd                           [phone] 
                                    or [e-mail] 
                                       [phone]/+44 
 Paul McManus/Sam Allen                        7884 664 686 
 
 

Notes to editors

YOLO has a 4.66% holding of the shares in TVPlayer, which demerged from Simplestream Limited ("Simplestream") in Q4 2016. Following the demerger, YOLO maintains a 6.78% stake of in Simplestream, which continues to sell specialist online streaming software to broadcasters and is a profitable organisation.

About TV Player:

TVPlayer is an online freemium over the top (OTT) television platform which is available across mobile, tablet and connected TV, with over 3m downloads, offering over 100 channels to over 1m unique users per month. The TV aggregator offers free to air and premium channels from UKTV, Fox, A+E, Discovery, Eurosport, Sony, Viacom and Turner for just GBP5.99 per month without a contract.

About Simplestream:

Simplestream a leading provider of video services for the media and entertainment industry, providing multi platform live streaming, live-to-Video on Demand ("VoD") and Catchup TV services for the broadcast and media industry. Its clients include A+E Networks, Blaze, SONY, Universal Music, News Corp, QVC, MP & Silva, Trace and At The Races amongst others.

About A&E Networks:

A&E Networks (stylized as A+E NETWORKS) is an American media company that owns a group of television channels available via cable & satellite in the U.S. and abroad. A&E stands for Arts & Entertainment. The company is a joint venture between Hearst and Disney-ABC Television Group, a unit of the Disney Media Networks subsidiary of The Walt Disney Company. A&E Networks reach 330 million people worldwide.

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This information is provided by RNS

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March 02, 2017 02:00 ET (07:00 GMT)