31 Oct 2019 14:29
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.
October 31, 2019
An Update on the Non-binding Offer for the Sale of the Company's Shares in Team Internet
Further to the announcements made by Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) ("Matomy" or the "Company") on September 8 and on September 19 and October 16, 2019 (RNS 5800L and RNS 0373N and RNS 2668Q, respectively) regarding the execution of a non-binding Letter of Intent ("LOI") to sell its shares (90%) in Team Internet AG, the Company hereby announces that the Company and the potential purchaser (the "Purchaser") have mutually agreed to extend the exclusivity period until November 15, 2019 (the "Extended Exclusivity Period"). The extension was granted, inter alia, due to the advanced stage of the negotiations between the parties, the notable progress made by the parties to finalize a definitive agreement and the advancement made in the fulfilment of certain conditions precedent for the transaction, including providing a support letter from a global provider of banking, financial investments and fund management services, containing a firm commitment to fund this transaction.
During the Extended Exclusivity Period, the parties shall continue to negotiate diligently and in good faith in order to finalize the terms of a definitive agreement and in order to execute a binding agreement by the end of Extended Exclusivity Period.
Cautionary Statement
THE NEGOTIATIONS RELATING TO THE FINAL TERMS OF THE PROPOSED TRANSACTION ARE ONGOING AND THERE IS NO CERTAINTY AT THIS TIME THAT A TRANSACTION WILL BE FINALIZED.
The announcement is prepared for convenience purposes only and it does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to buy or acquire, securities of Matomy in any jurisdiction or an inducement to enter into any investment activity.
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.
For more information:
Press Contact Information:
Noam Yellin, Noam@smartteam.co.il, +972544246720
Website: http://investors.matomy.com