- Settlement of all claims between the events
- Money funds from Azerion to Llama Group of an combination of €3,000,000 by 15 July 2024
- Extension of time interval for calculation of beforehand agreed worth assure to 31 December 2025 from 31 December 2024
- Enhance in most quantity assured by €2,000,000 as much as €7,054,780 topic to new worth sharing mechanism
BRUSSELS–(BUSINESS WIRE)–Regulatory Information
LLAMA GROUP proclaims that it has finalised a definitive settlement with Azerion, with out both social gathering admitting any legal responsibility or wrongdoing, settling all potential authorized claims between the events.
As a reminder, on 22 November 2022 LLAMA GROUP introduced the sale of the TARGETSPOT division to Azerion (cp-targetspot-azerion-en.pdf (llama-group.com)), together with, along with the money portion paid thus far, a cost in AZERION shares of two,782,644 shares.
The settlement signifies that LLAMA GROUP can definitively flip the web page on the sale of TARGETSPOT and has the monetary assets to proceed its enterprise and finance the launch of its new platform, anticipated on 2 July.
This settlement supplies for :
– A cost of €3m to Llama Group, of which €0.5m paid shortly after the settlement is signed, with the stability to be obtained on 15 July 2024.
– Extension of time interval for calculation of beforehand agreed worth assure to 31 December 2025 from 31 December 2024. Enhance in most quantity assured by €2,000,000 as much as €7,054,780 topic to new worth sharing mechanism associated to the worth of the Azerion shares.
– Presently, Llama Group holds 1,477,861 Azerion shares.
LLAMA GROUP is delighted with this settlement and intends to pay attention totally on growing its providing and attaining its roadmap.
NEXT MEETING
Annual outcomes
Publication of half-yearly gross sales figures – 31 July 2024
About Llama Group
Llama Group is a pioneer and chief within the digital music trade. With in depth experience throughout varied sectors, the group owns the long-lasting Winamp platform, the Bridger copyright administration firm, and the Jamendo music licensing firm.
Llama Group’s ambition is to construct the way forward for the music trade by means of sustained funding in a spread of revolutionary options and within the expertise and abilities of people that love music.
The group stands by its model values: empowerment, entry, simplicity, and equity.
Winamp’s imaginative and prescient is a world the place a cutting-edge music platform connects artists and their followers like by no means earlier than.
Bridger’s mission is to assist songwriters and composers by offering a easy and revolutionary answer for amassing royalties.
Jamendo permits impartial artists to generate extra earnings by means of business licenses.
Lastly, Hotmix gives a bouquet of greater than sixty thematic and free digital radio stations.
View supply model on businesswire.com: https://www.businesswire.com/information/residence/20240611645089/en/
Buyers relations
Olivier Van Gulck
[email protected]
Supply: Llama Group