XLMedia reaffirms commitment to AIM
XLMedia has announced that following a strategic review of its business, the firm will remain listed in London, UK, as an independent company on AIM.
In January, the digital marketing services company appointed Canaccord Genuity to undertake a review of its business, with a focus on the strategic options open to the firm.
However, after the firm in March revealed record financial results for 2015, its board has concluded that in order to maximise value for its shareholders, the company will remain committed to AIM.
In a statement confirming the decision, the XLMedia board said that it remains committed to expanding the group's operational reach into new geographies and verticals, as well as developing technological infrastructure to accelerate organic growth and further enhances the firm’s reputation and competitive edge.
The board also said it is keen to “execute acquisitions, which both strengthen and expand the group's operational footprint in what remains a broadly fragmented market”.
The statement added: “Management continues to work to maximise shareholder value by continuing to commit to expanding the group’s core offering through a combination of ongoing investment and product development.
“The group also remains focused on acquisitive growth and continues to evaluate a number of potential opportunities.
“It is this ongoing confidence that underpins the company's progressive dividend policy and provides confidence in the near term trading prospects for the group.”
XLMedia also used the announcement to issue a trading update, stating that it has been able to maintain its “excellent start” to the year with “strong demand for services” across its geographic footprint.
The company added that during the first four months of 2015, it has continued to progress according to its plan in regards to existing and new verticals, while it has also taken further steps in the development of new technologies.
XLMedia chairman Christopher Bell said: “We are focused on ensuring we maintain our market leading position, delivering a best-in-class service to customers whilst attracting the best people in the industry.
“Being a quoted company provides the best platform to deliver on that commitment and our recent full year results with record revenue and PBT growth support this decision.”
XLMedia claims record-breaking year as key financials soar
XLMedia details strategic review plans