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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 became 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.
Trading in the Company’s Ordinary Shares on AIM was suspended with effect from 7.30am on 14 May 2025 (the “Suspension”). As previously announced, the Company became an AIM Rule 15 Cash Shell on 13 November 2024 with no material trading business, activities and assets other than the cash proceeds from the Disposals. Following completion of the recent Tender Offer and distribution of the cash proceeds, with six months having elapsed since the Company became an AIM Rule 15 Cash Shell, the Suspension took effect in accordance with AIM Rule 15, as planned.
Following suspension of trading the Company’s Ordinary Shares remain admitted to trading until any cancellation of admission. However, no prices will be published and no transactions will be executed through the London Stock Exchange. Following suspension, there may be a very limited scope for effecting a sale through private treaty if a shareholder is able to identify a potential buyer. It will still be possible to transfer the shares through CREST as the share will remain in CREST. In due course, admission to trading on AIM will be cancelled.
The Company will make a further announcement in due course regarding the proposed cancellation of its Ordinary Shares to trading on AIM, in accordance with the Company’s wind-down of the business and ultimate liquidation.
Unless otherwise defined, capitalised terms used in this announcement have the same meaning as in the Company’s announcement dated 11 April 2025.
