TLA Worldwide PLC Completion of the sale of the US Businesses (7307L)
28 December 2018 - 10:40PM
UK Regulatory
TIDMTLA
RNS Number : 7307L
TLA Worldwide PLC
28 December 2018
28 December 2018
TLA Worldwide plc
("TLA" and together with its subsidiaries, the "Group")
Completion of the sale of the US Businesses
TLA Worldwide plc (AIM: TLA), a leading athlete representation
and sports marketing business, is pleased to announce that
following the result of its General Meeting held on 27 December
2018, the sale of its US Businesses ("Sale") has now completed.
Further details of the Sale are set out in the circular to
shareholders dated 11 December 2018 ("Circular").
Unless the context otherwise requires, capitalised terms in this
announcement shall have the same meaning ascribed to them in the
Circular.
It is expected that Michael Principe and Greg Genske will cease
to be directors of TLA and the other members of the Group (as
applicable) following completion of the Sale. The Company will make
a further announcement once these resignations are confirmed.
In addition, the Group announces that the Forbearance Agreement
entered into with SunTrust on 10 October 2018, details of which are
set out in the Circular, has been terminated and replaced with a
new forbearance agreement with SunTrust dated 27 December 2018 with
the effect that the forbearance period has been extended from 31
December 2018 to 31 January 2019.
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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END
DISUWOARWWAUUAA
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