XLMedia PLC Acquisition of Marmar Media minority shareholding (4904N)
09 Agosto 2017 - 3:00AM
UK Regulatory
TIDMXLM
RNS Number : 4904N
XLMedia PLC
09 August 2017
For immediate release 9 August 2017
XLMedia PLC
("XLMedia", the "Company" or the "Group")
XLMedia acquires remaining minority shareholding in Marmar Media
Ltd.
XLMedia (AIM: XLM), a leading provider of digital performance
marketing, is pleased to announce that it has entered into an
agreement to acquire the remaining minority shareholding in Marmar
Media Ltd. ("Marmar") (the "Acquisition") that the Company does not
already own for a total consideration of approximately US$2.4
million.
The total consideration, payable in cash, is comprised of
US$2.25 million, to be paid immediately, and an additional amount
representing 46 per cent. of Marmar's distributable net profits for
the period from 1 January 2017 to 31 July 2017 (less an amount
representing working capital commitments).
XLM acquired a 54 per cent. stake in Marmar, which specializes
in performance based marketing across the app, software and
entertainment verticals, in June 2015 and is now acquiring the
remaining 46 per cent. via the Company's wholly owned subsidiary,
Webpals Holdings Ltd., acquiring both of Gindawii Holdings Ltd. and
Farmland Holdings Ltd., companies wholly owned by Marmar founders,
Mr. Oren Avidor and Mr. Gal Avidor (together, the "Vendors").
In the year ended 31 December 2016 Marmar generated revenues and
profit before tax of US$11.7 million and US$2.5 million
respectively. The Acquisition of the remaining 46 per cent. stake
in Marmar is expected to enable XLM to further strengthen the
Group's media channel growth, enable the Group to extract
additional synergies, run an increased number of campaigns and
continue the diversification of the Group's revenue and customer
base.
Marmar is already consolidated into the Company's financial
statements. As such, the Acquisition of the minority stake will not
affect the Company's profit and loss reporting but will increase
the net income attributable to equity holders of the Company as the
minority holders are removed.
The Vendors are considered to be related parties of the Company
pursuant to Rule 13 of the AIM Rules for Companies. The Directors
of the Company consider, having consulted with Cenkos Securities
plc, that the terms of the Acquisition are fair and reasonable
insofar as its shareholders are concerned.
For further information, please contact:
XLMedia plc Ory Weihs www.xlmedia.com Tel: 020 8817 5283
Vigo Communications Jeremy Garcia Tel: 020 7830 9703
/ Fiona Henson / Natalie Jones
www.vigocomms.com
Cenkos Securities plc (Nomad Tel: 020 7397 8900
and Joint Broker) Ivonne Cantu
/ Camilla Hume www.cenkos.com
Berenberg (Joint Broker) Chris Tel: 020 3207 7800
Bowman / Mark Whitmore www.berenberg.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQPLMATMBIMMAR
(END) Dow Jones Newswires
August 09, 2017 02:00 ET (06:00 GMT)
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