XLMedia created compelling content for highly engaged audiences and connected them to relevant advertisers. The Group managed a portfolio of premium sports and gaming brands with an emphasis on regulated markets and responsible gaming. In the near term, it will continue provide transition services to Sportradar, the acquirer of the North America assets.
Following completion of the North America Disposal, XLMedia has 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 is not seeking the 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. The Company will provide further information regarding the on-going cost of winding the business down, trading as it relates to the potential earn outs and information regarding an initial distribution from proceeds of sale, in due course.
Shareholders should be aware that, in accordance with AIM 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.
