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An update from XLMedia ( (GB:XLM) ) is now available.
XLMedia has announced an update regarding the distribution of capital following the sale of its assets in Europe and North America. The company plans an initial tender offer to distribute up to £16 million to shareholders, which is about half its current market capitalization. This decision follows the completion of asset sales that have turned XLMedia into a cash shell, with no plans for acquisitions or investments. The company is focusing on cost reduction and efficient winding down of operations, estimating costs to clear liabilities to be between $11 million to $13 million. The board aims to maximize shareholder returns while ensuring a smooth closure of operations.
More about XLMedia
XLMedia is a digital media company operating in the sports and gaming industry. The company’s primary focus has been on digital media operations related to these sectors.
YTD Price Performance: 71.03%
Average Trading Volume: 1,710,821
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £31.8M
For detailed information about XLM stock, go to TipRanks’ Stock Analysis page.
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