Matomy Media Group Ltd Update on non-binding offer (2668Q)
October 17 2019 - 7:42AM
UK Regulatory
TIDMMTMY
RNS Number : 2668Q
Matomy Media Group Ltd
17 October 2019
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon
publication of this announcement, the inside information is now
considered to be in the public domain for the purposes of MAR.
October 17, 2019
An Update on the Non-binding Offer for the Sale of the Company's
Shares in Team Internet
Further to the announcements made by Matomy Media Group Ltd.
(LSE: MTMY, TASE: MTMY.TA) ("Matomy" or the "Company") on September
8 and on September 19, 2019 (RNS 5800L and RNS 0373N, respectively)
regarding the execution of a non-binding Letter of Intent ("LOI")
to sell its shares (90%) in Team Internet AG ("Team Internet"), the
Company hereby announces that the Company and the potential
purchaser have mutually agreed to extend the exclusivity period by
additional 14 days after the lapse of the 45 day period that was
set in the LOI for execution of a binding agreement (i.e. until
November 1, 2019) (the "Extended Exclusivity Period"). The
extension was granted, inter alia, due to the successful completion
of the due diligence process by the potential purchaser, the
progression reported to the Company by the potential purchaser in
the fund raising for the completion of the transaction and after a
draft of a Share Purchase Agreement was submitted to the Company.
During the Extended Exclusivity Period the parties shall continue
to negotiate in good faith the terms of a definitive agreement in
order to execute a binding agreement by the end of Extended
Exclusivity Period.
Cautionary Statement
THE NEGOTIATIONS RELATING TO THE FINAL TERMS OF THE PROPOSED
TRANSACTION ARE ONGOING AND THERE IS NO CERTAINTY AT THIS TIME THAT
A TRANSACTION WILL BE FINALIZED.
The announcement is prepared for convenience purposes only and
it does not constitute or form part of, and should not be construed
as, an offer to sell or issue, or the solicitation of an offer to
buy or acquire, securities of Matomy in any jurisdiction or an
inducement to enter into any investment activity.
This announcement includes forward-looking statements, which
include all statements other than statements of historic facts,
including, without limitation, those regarding Matomy's and/or its
subsidiaries' (the "Group") financial position, business strategy,
plans and objectives of management for future operations, or any
statements preceded by, followed by or that include the words
"targets", "believes", "expects", "aims", "intends", "will", "may",
"anticipates", "would", "could" or similar expressions or negatives
thereof. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors beyond the Group's
control that could cause the actual results, performance or
achievements of the Group to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. Such forward-looking statements are
based on numerous assumptions regarding the Group's present and
future business strategies and the environment in which the Group
will operate in the future. These forward-looking statements speak
only as at the date of this announcement. The Company, its
directors and its or their advisers expressly disclaim any
obligation or undertaking to disseminate any updates or revisions
to any forward-looking statements contained herein to reflect any
change in the Group's expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statements are based unless required to do so by applicable law or
the Rules of the High Growth Segment.
About Matomy
Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) is a global
media company. Founded in 2007 with headquarters in Tel-Aviv.
Matomy is dual-listed on the London and Tel Aviv Stock
Exchanges.
For more information:
Press Contact Information:
Noam Yellin, Noam@smartteam.co.il, +972544246720
Website: http://investors.matomy.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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