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XLM Xlmedia Plc

11.50
0.125 (1.10%)
30 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Xlmedia Plc LSE:XLM London Ordinary Share JE00BH6XDL31 ORD USD0.000001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.125 1.10% 11.50 11.25 12.00 11.625 11.375 11.375 342,690 16:35:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Advertising, Nec 73.74M -9.44M -0.0359 -3.24 30.51M

XLMedia PLC Divestment of Europe and Canada assets completed

02/04/2024 3:53pm

RNS Regulatory News


RNS Number : 0251J
XLMedia PLC
02 April 2024
 

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.

 

2 April 2024

Icon Description automatically generated with low confidence

XLMedia PLC

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

 

Divestment of Europe and Canada assets transaction completed

 

Binding agreement to sell Europe and Canada assets for a total consideration up to $42.5 million completed on 1 April 2024

 

XLMedia (AIM: XLM), today announces the completion of the sale of its Europe and Canada sports betting and gaming assets (the "Assets") to Gambling.com Group Limited ("GAMB", the "Purchaser") on 1 April 2024 and confirms receipt of the initial cash installment of $20.0 million on 2 April 2024.

The terms of the agreement (the "Transaction") include a total consideration up to $42.5 million, with fixed consideration of $37.5 million ("Fixed Consideration"). In addition, the Transaction provides earnout consideration of up to a further $5.0 million based on revenue performance ("Earnout Consideration").

The Company will incur transaction costs over a period of six-months to support the migration of the Assets. The net proceeds from the Fixed Consideration after transaction costs are expected to be approximately $35.0 million ("Net Cash Proceeds").

The Board is pleased to be able to realise substantial value from the Transaction and intends to use the Net Cash Proceeds to pay the final deferred acquisition payment of $4.0 million due in 2024, provide working capital for the North America business and settle outstanding tax provisions while returning cash to shareholders.

The Business's strategy continues to focus on North America Sports including expanding its footprint, deepening audience relationships and diversifying revenue streams with the goal of developing more predictable, stable income and building its Gaming vertical.  XLMedia's Board will continue to execute this strategy whilst also evaluating ways to maximise shareholder value.

 

 

For further information, please contact:

 

XLMedia plc

David King, Chief Executive Officer

www.xlmedia.com

 

 

ir@xlmedia.com

via Vigo Consulting

Vigo Consulting

Jeremy Garcia / Fiona Hetherington / Kendall Hill

www.vigoconsulting.com

 

Tel: 020 7390 0233

Cavendish Capital Markets Limited (Nomad and Broker)

Giles Balleny / Callum Davidson

www.cavendish.com

Tel: 020 7220 0500

 


About XLMedia:  

XLMedia (AIM: XLM) is a sports and gaming 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 in regulated markets which are designed to reach passionate people with the right content at the right time.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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