TLA Worldwide PLC Completion of the sale of the US Businesses (7307L)

TIDMTLA

RNS Number : 7307L

TLA Worldwide PLC

28 December 2018

28 December 2018

TLA Worldwide plc

("TLA" and together with its subsidiaries, the "Group")

Completion of the sale of the US Businesses

TLA Worldwide plc (AIM: TLA), a leading athlete representation and sports marketing business, is pleased to announce that following the result of its General Meeting held on 27 December 2018, the sale of its US Businesses ("Sale") has now completed. Further details of the Sale are set out in the circular to shareholders dated 11 December 2018 ("Circular").

Unless the context otherwise requires, capitalised terms in this announcement shall have the same meaning ascribed to them in the Circular.

It is expected that Michael Principe and Greg Genske will cease to be directors of TLA and the other members of the Group (as applicable) following completion of the Sale. The Company will make a further announcement once these resignations are confirmed.

In addition, the Group announces that the Forbearance Agreement entered into with SunTrust on 10 October 2018, details of which are set out in the Circular, has been terminated and replaced with a new forbearance agreement with SunTrust dated 27 December 2018 with the effect that the forbearance period has been extended from 31 December 2018 to 31 January 2019.

The information contained within this 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.

Enquiries:

 
 TLA Worldwide plc 
 Keith Sadler, Senior Independent Non-Executive 
  Director                                         [phone] 
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 Beaumont Cornish Limited (Nomad and Broker) 
 Roland Cornish, James Biddle                      [phone] 
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 Luther Pendragon 
 Harry Chathli, Alexis Gore                        [phone] 
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December 28, 2018 06:40 ET (11:40 GMT)