XLMedia will cease listing on the London Stock Exchange in May following the sale of its major assets in two deals last year. The company said that as part of the exit, its shares will cease trading on May 12.
The company previously sold its European and Canadian operations to Gambling.com and its North American assets to Sportradar in 2024 for $41.2 million and $21 million, respectively.
While that money was mostly returned to shareholders, the company XLMedia CEO David King said: “We have made substantial progress in reducing costs having successfully completed the transition of both European and North American assets to new owners.
“The outstanding tax liabilities remain the most significant residual cost and we are working rapidly with our advisers with a view to early submission of final tax returns. However at this point we have no certainty over the timescales for final agreement from each tax authority.”
XLMedia has announced that it will reduce its headcount from 146 to 17 during 2024. A further 10 employees have exited the company in the first quarter of 2025.
XLMedia’s delisting will mark the end of just over a decade on the London Stock Exchange, where it floated in 2014. The business, founded in 2008, is considered a pioneer in the world of gaming affiliates.
Marcus Rich, XLMedia chair, added: “We are pleased to have realised value for shareholders from the sale of the group’s assets having made an initial return of capital in February.
“It is our intention to make a further return of capital prior the company’s shares being suspended which is expected to take place on or around 12 May 2025.”
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