The board of Codere SA has been granted approval by bondholders to pursue a €100m liquidity injection, a transaction required for the Spanish gambling group to ‘avoid insolvency’. In March, bondholders were notified of ‘liquidity pressures’ impacting Codere’s global operations, in which the company required emergency financing in the markets of Argentina, Mexico and Panama. The funds will support Codere’s …
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Grupo Codere has notified investors that it must raise €100m in capital as the heritage Spanish gambling firm “finds itself in a probable insolvency situation”. Yesterday, Codere published an updated ‘reorganisation and refinancing plan’, outlining that a request for €100m liquidity financing to be added to the board’s ongoing ‘2023-to-2027 recovery programme’. Codere maintains that it has achieved the initial …
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Codere SA has published a performance update on Q4 2021 trading activities – a period that saw the Spanish gambling group delist from the Bolsa Madrid exchange to comply with bondholders’ orders. During Q4 trading, Codere registered corporate revenues of €291m, a result that saw the company match 85% of like-for-like revenues achieved during Q4 2019 prior to its business …
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XLMedia (XLM) has moved to strengthen its senior leadership team following Christopher Bell’s decision to vacate as Chair, appointing Julie Markey in an interim role. Markey steps into the position of interim Chair from her current role of non-executive Director of the Company and Chair of the remuneration committee, and will assume the responsibilities of the job whilst the company …
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XLMedia (XLM) expects 2021 to be a year of successful trading ahead of the publishing of its trading results for the 12 months ending 31 December, driven by several sports acquisitions and partnerships. Overall, the digital performance publishing group expects full year results to be ‘in line with expectations’ with revenue of $66.6 million (2020: $54.8 million) and adjusted EBITDA …
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XLMedia will initiate a recruitment process for a new Non-Executive Chairman, as Christopher Bell withdraws from the position to join ‘Nueva Codere‘, the business identity of Grupo Codere SA. During his nearly eight years as Chair of XLMedia, Bell oversaw the group’s IPO on the London AIM in 2014 as well as ‘a number of successful strategic acquisitions’ – the firm …
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Affiliate marketing publisher XLMedia has reported that 2019 was a year of ‘limited financial progress’ for the group as it sought to ‘mitigate a number of operationally frustrating scenarios and global sector headwinds’. Publishing its results for the year ended 31 December 2019, XLMedia reported a full-year loss after it wrote down the value of its assets, reporting revenues of …
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Having completed a strategic corporate review, the board of XLMedia has concluded that the company will continue to operate as independent enterprise, scrapping any plans of selling its business or assets. The governance of the London AIM-listed company stated that it believed that in remaining independent it would best serve its goal of “maximising value for shareholders”. Following a record …
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