Xlmedia Regulatory News (XLM)

The following is a correction to the 'Share Buyback Programme' announcement released on 4 June 2019 at 7.00am under RNS No 0058B. The changes relate to minor errors in the body of the text. The errors have been corrected in the announcement as set out below.

XLMedia PLC

("XLMedia" or the "Group" or the "Company")

Share Buyback Programme

XLMedia (AIM: XLM), a leading provider of digital performance marketing, is pleased to announce a share buyback programme following the approval of further authorities at the Company's Annual General Meeting on 29 May 2019. XLMedia's Board has approved a programme (the "Programme") to buy back up to $10 million of the Company's ordinary shares of USD 0.000001 (the "Shares").

Share buyback

The Programme follows the previous share buyback programme announced on 18 December 2018 which has now completed. Pursuant to the 2018 programme the Company purchased 11,728,150 Shares at a weighted average price of 61.90 pence.

Purchases of Shares will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors. Share purchases will not exceed the 20,990,350 Shares that the Company was authorised to purchase by shareholders at the Company's most recent annual general meeting held on 29 May 2019, and all purchases of Shares will be effected within the parameters as to price and daily volume specified in that authority.

The Company has appointed Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg") to manage the Programme, which comprises a non-discretionary programme to repurchase Shares on its behalf. The Company and its directors have no power to invoke any changes to the Programme and purchases under the Programme will be conducted at the sole discretion of Berenberg. The Programme will run from the date of this announcement until the earlier of 29 November 2020 and the conclusion of the 2020 annual general meeting of the Company. Purchases may continue during any closed period to which the Company is subject during this period.

The purpose of the Programme is to reduce the share capital of the Company and return funds to shareholders; repurchased Shares will be held in treasury. The Programme will be funded from the Company's existing cash balances which were approximately US$44.6 million as at 31 December 2018 and will not affect the Company's stated dividend policy of paying out at least 50 per cent of retained earnings.

The Programme will also be effected within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU or applicable safe harbour. Details of all purchases made pursuant to the Programme will be announced via RNS and published on the Company's website as required by the Market Abuse Regulation.

Total Voting Rights

As at the date of this announcement, the Company's issued share capital consists of 208,624,252 Ordinary Shares with a nominal value of US$0.000001 each ('Ordinary Shares'). This figure of 208,624,252 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

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