YOLO Leisure & Technology PLC Further re Investment in TVPlayer Limited (7208O)
03 Octubre 2019 - 9:22AM
UK Regulatory
TIDMYOLO
RNS Number : 7208O
YOLO Leisure & Technology PLC
03 October 2019
YOLO Leisure and Technology plc
("YOLO" or the "Company")
Further Update: Investment in TVPlayer Limited
Further to the announcement made on 21 August 2019 in which the
Company announced its decision to write down to nil the value of
its investments in TVPlayer Limited ("TVPlayer"), the Company has
today been made aware that TVPlayer has been placed into
administration.
YOLO's investments in TVPlayer comprise 3.28 per cent. of
TVPlayer's fully diluted equity share capital and GBP50,000 of
convertible loan notes. The book value of TVPlayer in YOLO's
balance sheet as at 31 March 2019 was GBP446,973 (0.86p per YOLO
ordinary share). As announced on 30 April 2019, as at 31 March 2019
YOLO's net asset value equated to 6.81p per ordinary share (5.95p
per ordinary share excluding the book value of TVPlayer in YOLO's
balance sheet on the same date).
It is unclear at present what return may be generated for
shareholders in TVPlayer following the administration. YOLO will
make a further announcement once the likely outcome of the
administration process and the return for YOLO becomes clearer.
TVPlayer was spun out of one of YOLO's other investee companies,
Simplestream Limited ("Simplestream"). Accordingly, YOLO's holding
of TVPlayer equity shares was not acquired for an additional cash
subscription. YOLO's only cash investment in TVPlayer was its
subscription for GBP50,000 of convertible loan notes.
Simplestream is not affected by the TVPlayer administration
process and it continues to develop its technology and is pursuing
a number of commercial opportunities.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
--ENDS--
Enquiries
YOLO Leisure and Technology plc
Simon Robinson simon.robinson@yoloplc.com
Cairn Financial Advisers LLP
Sandy Jamieson, Liam Murray Tel: +44 20 7213 0880
Peterhouse Capital Limited
Duncan Vasey, Lucy Williams Tel: + 44 20 7220 9797
Walbrook PR Ltd Tel: +44 20 7933 8787
yolo@walbrookpr.com
Paul McManus Mob: +44 7980 541 893
Sam Allen Mob: +44 7884 664 686
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END
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