XLMedia to make GBP16 million shareholder return in tender offer

(Alliance News) - XLMedia PLC on Monday proposed a return of GBP16.0 million to shareholders after the disposal of its Europe and North America businesses.

The London-based sports digital media company said it will, pending shareholder approval, conduct a tender offer at a fixed price of 11.50 pence per share, which represents a premium of around 24% to the volume weighted average price of 9.27p for the one-month period to January 17.

The company said the tender offer is for around 53% of the company's share capital, or around 139 million shares.

The offer is subject to shareholder approval at the firm's general meeting scheduled for February 6.

XLMedia is a cash shell following the sale of its North America business, and it no longer has any material trading activities.

The firm's cash at the end of 2024 was USD35 million, and it is due to receive USD7.5 million on April 1 from the sale of its Europe business to Gambling.com Ltd.

XLMedia said it expects to make a further distribution of capital to shareholders in the second quarter of 2025.

Shares in XLMedia were up 3.9% to 10.12p in London on Monday morning.

By Michael Hennessey, Alliance News reporter

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