XLMedia PLC Result of General Meeting

RNS Number : 3606L

XLMedia PLC

07 November 2024

 

 

7 November 2024

 

XLMedia PLC

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

 

Result of General Meeting for North America Disposal

 

XLMedia (AIM: XLM), a sports and gaming digital media company, is pleased to announce that the ordinary resolution to approve the proposed divestment of the Group's North America Business (the "North America Disposal") proposed at the General Meeting of the Company held earlier today was duly passed.

 

The full text of the resolution can be found in the Notice of General Meeting, which is contained on page 22 of the circular published and issued to shareholders on 21 October 2024 and is available on the Company's website at: https://www.xlmedia.com/investors/reports-and-documents/

 

It is expected that completion of the North America Disposal will take place on Wednesday 13 November 2024.

 

The full proxy results can also be found on the Company's website at: 

https://www.xlmedia.com/investors/reports-and-documents/

 

 

For further information, please contact:

XLMedia plc David King, Chief Executive Officer Peter McCall, Company Secretary and General Counsel www.xlmedia.com	[e-mail]
Cavendish Capital Markets Limited (Nomad and Broker) Giles Balleny / Callum Davidson (Corporate Finance) www.cavendish.com	Tel: [phone]

 

About XLMedia

 

XLMedia (AIM: XLM) is a sports 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.

 

Following completion of the North America Disposal, XLMedia will become an AIM Rule 15 Cash Shell and does not propose to make an acquisition that constitutes a reverse takeover under AIM Rule 14 or become an investing company. However, the Board does not propose to seek cancellation of the Company's admission to trading on AIM at this point as it believes that it is in the best interests of shareholders that the Company  remains admitted to trading until the final consideration payments from each of the disposal of the Group's Europe and Canada sports betting and gaming assets to Gambling.com Group Limited in April 2024 and the North America Disposal are received and a significant proportion of the consideration from the disposals has been distributed to shareholders.

 

As the Company does not propose to make an acquisition that constitutes a reverse takeover under AIM Rule 14 or become an investing Company, Shareholders should be aware that, in accordance with AM Rule 15, it is expected that trading in the Ordinary Shares of the Company will be suspended on or around 13 May 2025. The Company will then have a further six months following the date of suspension before the Company's admission to trading on AIM is cancelled. The Directors' current expectation is that the Company will have taken steps to effect cancellation of its admission to trading on AIM by this time.

 

 

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