TLA Worldwide PLC Update on TLA Australia (0303L)
20 December 2018 - 3:33AM
UK Regulatory
TIDMTLA
RNS Number : 0303L
TLA Worldwide PLC
19 December 2018
19 December 2018
TLA Worldwide plc
("TLA" and together with its subsidiaries, the "Group")
Update on TLA Australia
TLA Worldwide plc (AIM: TLA), a leading athlete representation
and sports marketing business, notes the announcement from QMS
Media Limited ("QMS Media") (ASX: QMS) earlier today acknowledging
that it is in preliminary discussions to explore the potential
acquisition of TLA Australia.
As previously announced on 12 December 2018, TLA is continuing
to make good progress regarding the sale of its Australian sports
marketing and event management business (the "Australian
Business"). TLA confirms that it has agreed in principle to sell
the Australian Business to QMS Media, although no definitive
agreement has been reached. There can be no certainty that any
transaction with QMS Media will ultimately be forthcoming, nor can
there be any certainty as to the terms of any such transaction.
A sale of the Australian Business would require shareholder
approval under AIM Rule 15. If such a sale were to proceed, and the
proposed sale of the Group's US business (details of which were
contained in the announcement on 3 December 2018) also completes,
then the Group will become an "AIM Rule 15 cash shell" under AIM
Rule 15; but further information on this will be provided as and
when applicable.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.
Enquiries:
TLA Worldwide plc
Keith Sadler, Senior Independent Non-Executive
Director +44 20 7618 9100
-----------------
Beaumont Cornish Limited (Nomad and Broker)
Roland Cornish, James Biddle +44 20 7628 3396
-----------------
Luther Pendragon
Harry Chathli, Alexis Gore +44 20 7618 9100
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About the Group
TLA is a leading, fully integrated talent representation, sports
marketing and event management company. The Group derives its
revenues from long-term agency relationships with many prominent US
and international sports stars (including Olympic medal winners),
broadcasters and media personalities associated with major sports
including the MLB, NFL, NBA, PGA TOUR, AFL and cricket. In
addition, it also provides a range of services in respect of media
consultancy, sports sponsorship and event creation and ownership.
The Group serves its clients from ten locations worldwide including
its offices in London, UK; New York, Newport Beach, Houston,
Charleston, San Francisco, USA; Melbourne, Perth, Adelaide and
Sydney, Australia. For more information, please visit
www.tlaworldwide.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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