XLMedia rules out potential sale
Digital marketing firm's strategic review recommends it remains an independent company on AIM to boost shareholder value
XLMedia has ruled out a potential sale of the business after the conclusion of its strategic review recommended it maintained its position as a listed independent company.
The firm, which kicked-off a strategic review of the business in January, assessed a variety of future strategy options, including a sale, in an effort to maximise shareholder value.
XLMedia is now no longer in an ‘Offer Period’ as defined in the UK Takeover Code and the formal sale process announced earlier this year has now officially ended.
According to an announcement today, the egaming performance marketing company plans to continue with its current strategy of both completing acquisitions and finding organic growth opportunities.
“Having now undertaken a very thorough strategic review, the board has concluded that the best prospects for the business and maximising shareholders’ value are through remaining an independent company on AIM,” Christopher Bell, XLMedia chairman, said.
“Being a quoted company provides the best platform to deliver on that commitment and our recent full year results with record revenue and PBT growth support this decision,” he added.
XLMedia also announced this morning that current trading remains in line with the boardâs expectations after reporting a 76% increase in 2015 revenues earlier this year.
The firm’s share price was down 0.61% to 68.33 at the time of writing