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XLMedia PLC confirmed the receipt of consideration payments related to the April 2024 divestment of its Europe and Canada sports and betting gaming assets to Gambling.com Group Limited. On April 1, 2025, the Group received $7.5 million, representing the final element of the fixed consideration, and $3.7 million in respect of the earnout consideration.
| Date | 2 Apr 2025 |
| Time | 07:00:07 |
| Category | Corporate updates |
| ID | 2400D |
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 2025
XLMedia PLC
("XLMedia" or the "Group" or the "Company" or the "Business")
Update on Consideration Received from Divestment of Europe and Canada Assets
XLMedia (AIM: XLM) is providing an update on the receipt of consideration payable following the disposal of the Group's Europe and Canada sports and betting gaming assets to Gambling.com Group Limited ("GAMB", the "Purchaser") in April 2024 (the "Transaction").
The consideration for the Transaction was up to $42.5 million in cash, comprising a fixed sum of $37.5 million payable in three instalments ("Fixed Consideration") plus a potential earnout of up to $5.0 million based on revenue performance ("Earnout Consideration"). Both the final element of the Fixed Consideration and the Earnout Consideration were payable on the first anniversary of the completion of the Transaction.
The Group confirms that on 1 April 2025 it received $7.5 million representing the final element of the Fixed Consideration, together with $3.7 million in respect of the Earnout Consideration.
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For further information, please contact: XLMedia plc David King, Chief Executive Officer
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Cavendish Capital Markets Limited (Nomad and Broker) Giles Balleny / Callum Davidson (Corporate Finance) Charlie Combe (Corporate Broking) |
Tel: 020 7220 0500 |
About XLMedia
XLMedia (AIM: XLM) has recently disposed of its sports and gaming digital media operations.
Forward Looking Statements
This announcement contains forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. They are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.