XLMedia plc’s £24 Million Fundraising

In UK Gowling WLG, advised on the matter.

Gowling WLG advised Berenberg Bank – Joh Berenberg Gossler & Co, Cenkos Securities with a team including Hugh Maule (Picture – Equity Capital Markets).

Cenkos Securities plc (nomad and joint broker) and Berenberg (joint broker) acted as joint bookrunners on XLMedia plc’s oversubscribed £24 million placing and subscription as well as its open offer to raise up to an additional £3 million from qualifying shareholders.

AIM-listed company XLMedia is an online performance-based digital publishing business operating across multiple territories, focused on audience segmentation, engagement and activation. It seeks to deliver high quality consumer engagement through its core branded sites in personal finance, sports and gaming, enabling it to direct paying customers to its partners for an agreed fee.

The company has announced a total of 58,727,398 Placing Shares have been successfully placed at a price of 40 pence per ordinary share with new and existing investors, which together with the subscription has conditionally raised gross proceeds of approximately £24 million.

Gowling WLG’s team advising on the deal was led by corporate partner Hugh Maule (Picture), corporate principal associate Alex Davidson and trainee solicitor Rachel Bright.

 

Involved fees earner: Alex Davidson – Gowling WLG; Hugh Maule – Gowling WLG;

Law Firms: Gowling WLG;

Clients: Berenberg Bank – Joh Berenberg Gossler & Co; Cenkos Securities;

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Author: Giulia Di Palma

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