- Settlement of all claims between the events
- Money funds from Azerion to Llama Group of an mixture 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
- Improve 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 publicizes that it has finalised a definitive settlement with Azerion, with out both occasion 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 so far, a cost in AZERION shares of two,782,644 shares.
The settlement implies that LLAMA GROUP can definitively flip the web page on the sale of TARGETSPOT and has the monetary sources to proceed its enterprise and finance the launch of its new platform, anticipated on 2 July.
This settlement offers for :
– A cost of €3m to Llama Group, of which €0.5m paid shortly after the settlement is signed, with the steadiness 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. Improve 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 creating 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 business. With in depth experience throughout varied sectors, the group owns the enduring 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 business via sustained funding in a spread of progressive options and within the expertise and expertise 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 help songwriters and composers by offering a easy and progressive answer for amassing royalties.
Jamendo allows unbiased artists to generate further earnings via industrial licenses.
Lastly, Hotmix affords a bouquet of greater than sixty thematic and free digital radio stations.
View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20240611645089/en/
Traders relations
Olivier Van Gulck
[email protected]
Supply: Llama Group