Completion of Transition to UK Tax Residence

RNS Number : 7837R

XLMedia PLC

02 July 2020

 

2 July 2020

XLMedia PLC

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

Completion of Transition to UK Tax Residence

XLMedia (AIM: XLM), a global digital performance publisher, is pleased to announce that it has successfully completed the transition of its Corporation Tax residence from Cyprus to the UK.  The change of residence of the Company is effective from 1 July 2020, the beginning of the second half of the Company's 2020 Financial Year.

For further information, please contact:

XLMedia plc	[e-mail]
Stuart Simms, Chief Executive Officer
www.xlmedia.com
Vigo Communications	Tel: [phone]
Jeremy Garcia
https://www.vigocomms.com
Cenkos Securities plc (Nomad and Joint broker)	Tel: [phone]
Giles Balleny / Max Gould
www.cenkos.com
Berenberg (Joint broker)	Tel: [phone]
Chris Bowman / Mark Whitmore / Simon Cardron
www.berenberg.com

Notes:

XLMedia is a leading global digital performance publisher. Operating globally across a variety of verticals including online gambling, personal finance, sports and technology, the Group uses proprietary tools and methodologies to identify and target high value clients for platform operators.

XLMedia has a clear transformation strategy, which will enable it to shape the future of the performance publishing industry.  As previously communicated, the Company has set three Strategic Goals:

· Consolidation of publishing assets

o  The Company will consolidate its range of publishing assets, focusing its resources on a core set of premium sites in its chosen markets.  XLMedia will seek to build stronger relationships with consumers through content-rich, engaging websites, underpinned by intelligent market-leading technology which enhances the yield from each interaction.  This rebalancing of the portfolio will be supported by organic investment, disposals and acquisitions.

· Investment in US Sports and Personal Finance

o  XLMedia has identified North America as a core target market, where it has already established a solid foothold in Personal Finance, led by content-rich websites which are gaining traction.  The Company will seek to further develop its Personal Finance presence and significantly increase its investment in the burgeoning US Sports market through partnerships and acquisitions.

· Further Investment in regulated markets

o  The Company is seeking to generate an increasing proportion of its revenue from more stable, regulated markets, both within current serviced verticals, such as gambling and personal finance and, over time, within additional target segments, where its core skills and scale can provide competitive advantage.

 

END

 

 

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