Update re TVPlayer investment

RNS Number : 5988B

YOLO Leisure & Technology PLC

10 June 2019

 

YOLO Leisure and Technology plc

("YOLO")

Update re TV Player

Further to the announcement of interim results made on 30 April 2019, YOLO Leisure and Technology plc, the AIM-quoted company focusing on opportunities in the technology, media and leisure sectors, understands that the board of TVPlayer Limited ("TVPlayer") has had discussions with a number of interested parties regarding a further strategic investment or a trade sale, however none of these discussions have yet reached a stage when a definitive offer has been made for the company. It is unclear at present what return may be generated for shareholders in TVPlayer in the event of a sale of its business as a going concern or any of its assets.

YOLO holds 3.28 per cent. of TVPlayer's fully diluted equity share capital and £50,000 of convertible loan notes.  The book value of TVPlayer in YOLO's balance sheet as at 31 March 2019 was £446,973 (0.86p per YOLO ordinary share). As announced on 30 April 2019, as at 31 March YOLO's net asset value equated to 6.81p per ordinary share (5.95p per ordinary share excluding the book value of TVPlayer in YOLO's balance sheet on the same date).

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries

YOLO Leisure and Technology plc
Simon Lee Robinson	[e-mail]
Cairn Financial Advisers LLP
Sandy Jamieson, Liam Murray	Tel: [phone]
Peterhouse Capital Limited (Sole broker)
Duncan Vasey / Lucy Williams	Tel: +  44 20 7220 9797
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Sam Allen	Mob: [phone]

 

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