|Go to market news section|
CESSATION OF DIGITAL ASSETS
Amsterdam, The Netherlands - November 22, 2017
By way of our previous press statement, we had informed the public on the considerations of a number of restructuring and strategic options including selling one or more of TME's subsidiaries and/or brands or businesses, wholly or partially to potential investors, as well as with the consideration to develop possible strategic partnership(s).
In this respect, having evaluated the process; TME's indirect subsidiary Pronto Media Holding (PMH) has taken the decision to cease its digital operations, with the board of directors' resolution of PMH dated November 22, 2017, based on the considerations regarding market competitiveness of PMH in which it operates and its performance being under the intended level.
As of 30.09.2017, TME has 5,8M-USD total consolidated revenue, with a net consolidated loss of 19.6M-USD, of which the major part of TME's losses occurred due the operations of PMH.
Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of Trader Media East or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially from those suggested by any such statements. Those factors include, but are not limited to, risks or uncertainties described in our publicly filed documents.
These forward-looking statements speak only as of the date of this document. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
|©London Stock Exchange plc. All rights reserved|