XLMedia PLC Disposal of Personal Finance Assets (8960A)

TIDMXLM

RNS Number : 8960A

XLMedia PLC

30 May 2023

30 May 2023

XLMedia PLC

("XLMedia" or the "Company")

Disposal of Personal Finance Assets

XLMedia (AIM: XLM), a leading global digital media company, today announces the part disposal of the Group's Personal Finance assets for a total cash consideration of $1.3 million (the "Disposal"). The Disposal comprises domains and websites including Investor Junkie, Greedy Rates and Young and Thifty owned by XLMedia Publishing Limited and Webpals Systems SC Limited, subsidiaries of XLMedia plc. The cash generated from the Disposal will be utilised in the day-to-day operations of the business.

The Disposal is in line with the Company's strategy to exit non-core activities while focussing on t he Group's Sports and Gaming business, expanding its North American Sports footprint, while also refining and developing the Group's EU Sports portfolio, and the Group's Gaming assets in selected markets, including the US.

In the year ended 31 December 2022, the assets relating to the Personal Finance division generated revenues of $1.9 million and EBITDA loss of $1.3 million.

The Personal Finance assets were excluded from continuing operations as disclosed in the Company's year ended 31 December 2022 results and have no impact on earnings in the current financial year.

Following the sale of these assets to MPD Media, the process to sell the remaining Personal Finance assets is at an advanced stage, but there is no certainty that a transaction or transactions will complete.

The Company will update the market when appropriate.

For further information, please contact:

 
 XLMedia plc                                   [e-mail] 
  David King, Chief Executive Officer           via Vigo Consulting 
  Caroline Ackroyd, Chief Financial Officer 
  www.xlmedia.com 
 Vigo Consulting                              Tel: [phone] 
  Jeremy Garcia / Fiona Hetherington / 
  Kendall Hill 
  www.vigoconsulting.com 
 Cenkos Securities plc (Nomad and Broker)     Tel: [phone] 
  Giles Balleny / Max Gould 
  www.cenkos.com 
 

About XLMedia:

XLMedia (AIM: XLM) is a leading global digital media company that creates compelling content for highly engaged audiences and connects them to relevant advertisers.

The Group manages a portfolio of premium brands with a primary emphasis on Sports and Gaming in regulated markets. XLMedia brands are designed to reach passionate people with the right content at the right time.

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(END) Dow Jones Newswires

May 30, 2023 02:00 ET (06:00 GMT)