Update on TLA Australia

RNS Number : 0991Z

TLA Worldwide PLC

15 May 2019

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 15 May 2019

TLA Worldwide plc

("TLA" and together with its subsidiaries, the "Group")

Update on TLA Australia

Further to the announcement of 19 December 2018, TLA confirms that its discussions relating to the sale of its Australian Business continue. In order to allow these discussions to be concluded, the period of forbearance granted by SunTrust Bank has been extended to 29 August 2019. There can be no certainty that any transaction will ultimately be forthcoming, nor can there be any certainty as to the terms of any such transaction.

A sale of the Australian Business would require shareholder approval under AIM Rule 15. If such a sale proceeds, then the Group will become an "AIM Rule 15 cash shell" under AIM Rule 15; but further information on this will be provided as and when applicable.

Enquiries:

TLA Worldwide plc
Keith Sadler, Senior Independent Non-Executive Director	[phone]
Beaumont Cornish Limited (Nomad and Broker)
Roland Cornish, James Biddle	[phone]
Luther Pendragon
Harry Chathli, Alexis Gore	[phone]

 

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