Press Speculation

RNS Number : 5276E

XLMedia PLC

10 February 2015

 



For immediate release

10 February 2015

XLMedia plc

("XLMedia" or "the Company")

Press Speculation

XLMedia (AIM: XLM) notes the press speculation regarding the potential acquisition of TLV Media ("TLV") for 50-100m Israeli Shekels. The Company is in evaluation stages of a few prospective targets, TLV being one of them. Negotiations with TLV and others are in early stages, and there is no certainty that any transaction will be completed or on what terms such transactions would complete.

The Company confirms it is actively pursuing additional acquisitions, looking to use its strong cash flow and funds raised during its IPO, in order to expand the business and expedite growth.

Management is working continuously to explore these options, and once the board is satisfied that the right target was found and terms have been agreed, the company will announce accordingly.

If the transaction with TLV were to complete, the board expects that the acquisition would constitute a substantial transaction under AIM Rule 12.

TLV Media is reported to have generated revenues of $19 million in 2013 and EBITDA of approximately $ 2.8 million. 

XLMedia plc Ory Weihs www.xlmedia.com	Tel: [phone]
Vigo Communications Jeremy Garcia www.vigocomms.com	Tel: [phone]
Cenkos Securities plc Ivonne Cantu/ Callum Davidson	Tel: [phone]

 

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