RE: We Know29 Aug 2019 20:25
No reason for Gatemore to be in here now Further to the announcement on 24 September 2018, TLA's subsidiary, TLA Acquisitions Limited has signed a letter of intent ("LOI") to sell the Group's US businesses (comprising both the baseball and US sports marketing businesses) to a fund managed by Gatemore Capital Management LLP ("Gatemore"). The sale is subject, inter alia, to due diligence and the execution of a definitive agreement by 3 December 2018 and if not, either party may terminate the LOI in its sole discretion. Following the sale, the US business will operate as a privately owned business.
The Group is now also actively considering the sale of its Australian businesses (comprising the Australian sports marketing business).
These disposals are expected to require Shareholder approval under AIM Rule 15. In addition, the potential sale of the US businesses to Gatemore will be treated in accordance with AIM Rule 13.