17 Oct 2019 12:42
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 17, 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, 2019 (RNS 5800L and RNS 0373N, respectively) regarding the execution of a non-binding Letter of Intent ("LOI") to sell its shares (90%) in Team Internet AG ("Team Internet"), the Company hereby announces that the Company and the potential purchaser have mutually agreed to extend the exclusivity period by additional 14 days after the lapse of the 45 day period that was set in the LOI for execution of a binding agreement (i.e. until November 1, 2019) (the "Extended Exclusivity Period"). The extension was granted, inter alia, due to the successful completion of the due diligence process by the potential purchaser, the progression reported to the Company by the potential purchaser in the fund raising for the completion of the transaction and after a draft of a Share Purchase Agreement was submitted to the Company. During the Extended Exclusivity Period the parties shall continue to negotiate in good faith the terms of a definitive agreement 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