XLMedia Announces Tender Offer to Return Up to £11 Million to Shareholders
Why we think this is neutral
This RNS announcement is a general update on a tender offer to return capital to shareholders, which does not fall into any of the mandatory news categories. While the tender offer may be of interest to shareholders, the announcement itself does not contain any specific financial or operational updates that would warrant a strong positive or negative sentiment score.
Key Points
- XLMedia announces a tender offer to return up to £11 million to shareholders
- The tender offer will be conducted at a fixed price of 11 pence per ordinary share
- The company is focused on the orderly wind up of its affairs following the disposal of its trading businesses
Summary
XLMedia PLC (AIM: XLM), a sports and gaming digital media company, announces a proposed return of up to £11.0 million to shareholders through a tender offer. The tender offer will be conducted at a fixed price of 11 pence per ordinary share, representing a 16% premium to the previous closing price. The company is now focused on the orderly wind up of its affairs following the disposal of its trading businesses.