By Steve Moore | Friday 9 August 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Shares in TLA Worldwide (TLA) have soared on an announcement that a “subsidiary… has entered into an agreement to sell… the remainder of the group's sports marketing businesses (the ‘Australian Businesses’) to QMS… the group would become an ‘AIM Rule 15 cash shell’… Net cash proceeds will be used to reduce the amount outstanding under the group's facilities with its bank. The bank has also agreed to waive any outstanding balance of its facilities on receipt of the net cash”…
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