The Completion of the Sale of Team Internet

December 24, 2019

The Completion of 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, September 19, October 16, October 31 and November 15, 2019 (RNS 5800L, RNS 0373N, RNS 2668Q, RNS 8566R and RNS 6530T, respectively) regarding the sale of the Company shares (90%) in Team Internet AG ("TI"), the Company hereby announces that the transaction between the Company, Rainmaker Investments GmbH ("Rainmaker"), and Centralnic Group PLC, was completed (the "Transaction").

Accordingly, the amount necessary for the full and immediate repayment of the Company's outstanding convertible bonds (Series A) ("Bonds") was transferred to the trustee of the Bonds, and the date of the full redemption of the Bonds was set for January 8, 2020.

In addition, immediately prior to closing date, the Company consummated the purchase of the remaining 10% stake of Rainmaker in TI in accordance with the share purchase agreement dated December 2017 between the Company and Rainmaker, by assigning to Rainmaker a portion of the consideration. Following consummation of such purchase, no further claims between Rainmaker and the Company exist and all alleged obligations of the Company towards Rainmaker have been settled.

Sami Totah, the Chairman of the Board of Directors and the interim CEO of the Company, said "I am happy we were able to reach this result in which we were able to take care of the interests of all stakeholders including a full payment of all of the company's liabilities"

Ilan Tamir, the Company CFO and COO, said: "It was a challenging year, and I would like to pay tribute to all parties involved in forming this transaction for demonstrating responsibility and a high level of cooperation"

Following completion of the Transaction, the Company is no longer a trading business for the purposes of Rule 2.1 of the High Growth Segment Rulebook (the "HGS Rules") and therefore does not comply with all continuing eligibility requirements under Rule 11 of the HGS Rules. 

The Company has been informed by the London Stock Exchange that it must comply in full with all continuing eligibility requirements under the HGS Rules within six months of the date of the general meeting of the Company approving the Transaction (the "Compliance Period"). If the Company is unable to meet all continuing eligibility requirements within the Compliance Period, the Company's securities will be suspended from admission to trading on the High Growth Segment of the London Stock Exchange's main market for listed securities.

The Company will review its options and will make a further announcement as and when there is anything to report in this regard.

About Matomy

Matomy Media Group Ld. (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, [email protected], +972544246720

Website: http://investors.matomy.com