TLA Worldwide PLC Update on TLA Australia (0991Z)
May 15 2019 - 3:03AM
UK Regulatory
TIDMTLA
RNS Number : 0991Z
TLA Worldwide PLC
15 May 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.
15 May 2019
TLA Worldwide plc
("TLA" and together with its subsidiaries, the "Group")
Update on TLA Australia
Further to the announcement of 19 December 2018, TLA confirms
that its discussions relating to the sale of its Australian
Business continue. In order to allow these discussions to be
concluded, the period of forbearance granted by SunTrust Bank has
been extended to 29 August 2019. There can be no certainty that any
transaction 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 proceeds, 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.
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
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