19 Dec 2018 16:33
19 December 2018
TLA Worldwide plc
("TLA" and together with its subsidiaries, the "Group")
Update on TLA Australia
TLA Worldwide plc (AIM: TLA), a leading athlete representation and sports marketing business, notes the announcement from QMS Media Limited ("QMS Media") (ASX: QMS) earlier today acknowledging that it is in preliminary discussions to explore the potential acquisition of TLA Australia.
As previously announced on 12 December 2018, TLA is continuing to make good progress regarding the sale of its Australian sports marketing and event management business (the "Australian Business"). TLA confirms that it has agreed in principle to sell the Australian Business to QMS Media, although no definitive agreement has been reached. There can be no certainty that any transaction with QMS Media 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 were to proceed, and the proposed sale of the Group's US business (details of which were contained in the announcement on 3 December 2018) also completes, 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.
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.
Enquiries:
TLA Worldwide plc | |
Keith Sadler, Senior Independent Non-Executive Director | +44 20 7618 9100 |
Beaumont Cornish Limited (Nomad and Broker) | |
Roland Cornish, James Biddle | +44 20 7628 3396 |
Luther Pendragon | |
Harry Chathli, Alexis Gore | +44 20 7618 9100 |
About the Group
TLA is a leading, fully integrated talent representation, sports marketing and event management company. The Group derives its revenues from long-term agency relationships with many prominent US and international sports stars (including Olympic medal winners), broadcasters and media personalities associated with major sports including the MLB, NFL, NBA, PGA TOUR, AFL and cricket. In addition, it also provides a range of services in respect of media consultancy, sports sponsorship and event creation and ownership. The Group serves its clients from ten locations worldwide including its offices in London, UK; New York, Newport Beach, Houston, Charleston, San Francisco, USA; Melbourne, Perth, Adelaide and Sydney, Australia. For more information, please visit www.tlaworldwide.com.