5 Aug 2019 07:00
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR.
August 5, 2019
Re: Updates on the negotiations regarding the sale of Team Internet and the negotiations with the Company's bondholders
Further to the previous announcements made by Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) (the "Company") on June 20, 2019 (RNS number: 9065C) and June 27, 2019 (RNS 7303D), regarding developments in the negotiations with a potential purchaser (the "Potential Purchaser") that was designated by Rainmaker Investments GmbH ("Rainmaker"), for the shares of Team Internet AG ("Team Internet") owned by the Company, the Company hereby announces that for the last four weeks, there has been no significant advancement in the negotiations with this Potential Purchaser, and as such the Company estimates that it is unlikely that an agreement with this Potential Purchaser will be reached. The Company is therefore pursuing other potential alternatives, and in this regard has engaged in negotiations, in collaboration with Rainmaker, with other potential purchasers of Team Internet. Such negotiations have not yet resulted in a binding offer and there is no certainty that such negotiations will result in such an offer or in a binding agreement.
In parallel, the Company was informed by the trustee of the bondholders and by Rainmaker that Rainmaker and the representatives of the bondholders are having direct discussions in order to reach a potential settlement by and between Rainmaker and the bondholders, to address a scenario in which the sale of Team Internet will not be consummated. The Company is not a party to such discussions.
Cautionary Statement
This announcement includes forward-looking statements, which include all statements other than statements of historic facts, including, without limitation, those regarding Matomy's and/or its subsidiaries' (the "Group") financial position, business strategy, plans and objectives of management for future operations, or any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or similar expressions or negatives thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Group's control that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Company, its directors and its or their advisers expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based unless required to do so by applicable law or the Rules of the High Growth Segment.
About Matomy
Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) is a global media company. Founded in 2007 with headquarters in Tel-Aviv, Matomy is dual-listed on the London and Tel Aviv Stock Exchanges.
Press Contact Information:
Noam Yellin, Noam@smartteam.co.il, +972544246720
Website: http://investors.matomy.com