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XLMedia PLC on Monday proposed a return of £16.0 million to shareholders after the disposal of its Europe and North America businesses. The London-based sports digital media company said it will, pending shareholder approval, conduct a tender offer at a fixed price of 11.50 pence per share, which represents a premium of around 24% to the volume weighted average price of 9.27p for the one-month period to January 17. The company said the tender offer is for around 53% of the company’s share capital, or around 139 million shares. The offer is subject to shareholder approval at the firm’s general meeting scheduled for February 6. XLMedia is a cash shell following the sale of its North America business, and it no longer has any material trading activities. The firm’s cash at the end of 2024 was $35 million, and it is due to receive $7.5 million on April 1 from the sale of its Europe business to Gambling.com Ltd. XLMedia said it expects to make a further distribution of capital to shareholders in the second quarter of 2025. Shares in XLMedia were up 3.9% to 10.12p in London on Monday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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