AGM Statement

RNS Number : 3825A

XLMedia PLC

29 May 2019

 

 

29 May 2019

XLMedia PLC

("XLMedia" or "the Group" or "the Company")

AGM Statement

XLMedia (AIM: XLM), a leading provider of digital performance marketing services, will be holding its Annual General Meeting at 9.00am today.

At the meeting, Chris Bell, Non-executive Chairman of XLMedia, will make the following statement:

"The business continues to trade in line with management expectations with our focus firmly on increasing the Group's exposure to higher margin publishing activities as set out in February 2019.

"Over the past decade, the Group has both created and acquired a leading portfolio of assets in the publishing division.  We are now focusing our efforts to fully leverage this core expertise to build a more comprehensive footprint across regulated gambling markets, in addition to our growing presence in the financial services vertical in North America.

"XLMedia continues to be a highly cash generative business with a strong cash balance. Therefore, the board continues to evaluate the Group's allocation of capital policy in order to both support our growth ambitions and to maximise shareholder value.  As a consequence of the current weakness in the Company's share price and pending approval at today's AGM granting the Company authority to buy shares, we intend to continue the share buyback programme that was initiated in December 2018.  I would also like to reiterate our commitment to maintaining a progressive dividend policy.

"We also continue to evaluate selective publishing acquisition opportunities, which could potentially accelerate earnings growth.

"We appreciate the ongoing support of our shareholders and remain focused on delivering on our full year numbers for 2019."

For further information, please contact:

 

XLMedia plc Chris Bell, Non-Executive Chairman Ory Weihs, Chief Executive Officer www.xlmedia.com	Tel: [phone]
Vigo Communications Jeremy Garcia / Fiona Henson / Simon Woods www.vigocomms.com	Tel: [phone]
Cenkos Securities plc (Nomad and Joint Broker) Giles Balleny / Callum Davidson www.cenkos.com	Tel: [phone]
Berenberg (Joint Broker) Chris Bowman / Mark Whitmore / Simon Cardron www.Berenberg.com	Tel: [phone]

 

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