XLMedia Sets £11M Payout to Shareholders in Final Cash Return
XLMedia, now a cash shell with no major operations, unveiled plans to hand back up to £11 million to shareholders through a tender offer.
Winding Down with a Big Buyback
It’s the second and final payout from selling off chunks of the business, offering 11 pence per share, a 16% bump over recent market prices. The deal could snap up 70.9% of XLMedia’s shares, canceling them to slim down the company’s footprint. Shareholders vote on it on April 28.
The tender’s a big step toward wrapping things up. After a £14 million buyback in January that scooped 121.5 million shares, this £11 million round aims to return the last of the proceeds from asset sales, like the $30 million deal with Sportradar for U.S. domains.
Premier Investissement SAS and directors, holding 2.78% of shares, are all in, pledging their full stakes. If oversubscribed, shares get prorated, ensuring eligible investors can offload up to 70.9% of their holdings.
Why XLMedia’s Cashing Out
This move didn’t come from nowhere. XLMedia’s been dismantling its empire, selling European assets and offloading U.S. brands, Crossing Broad, SportsBettingDime, EliteSportsNY, SaturdayDownSouth, to Sportradar.
The board saw the writing on the wall: their smaller-scale U.S. play couldn’t keep up with giants. With no real operations left, XLMedia’s now a husk, prepping to pause trading on AIM by May 14, 2025.
The strategy’s clear, liquidate and distribute. January’s £14 million return set the tone, and this £11 million tender, pegged as the “maximum prudent amount” after reviewing debts, wraps it up.
No more payouts are planned pre-suspension, and any future cash depends on liquidation and tax wrap-ups. XLMedia’s shifted from affiliate marketing, once a $100 million revenue driver, to a shell waiting for the endgame.
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