MTMY Matomy Media Group Ltd.

TIDMMTMY

RNS Number : 9807M

Matomy Media Group Ltd

14 May 2020

FOR IMMEDIATE RELEASE

May 14, 2020

Matomy Media Group Ltd.

Re: Announcement Regarding a Demand Letter

Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) (the "Company") announces that the Company has recently received a demand letter from a German firm (the "German Firm") under which the German Firm contends it is entitled to a transaction fee of EUR1.25 million under a consultancy agreement between the Company and the German Firm dated November 22, 2017, in connection with the sale of Team Internet AG which was consummated on December 2019 (the "Transaction").

Following the Company's preliminary review, the Company rejects the claims under the demand letter since, among other reasons, it appears that the German Firm did not provide any services to the Company after November 2018 and was not involved in the Transaction. The Company will continue reviewing this demand and consulting with its legal advisors, with a view to defending its position if necessary.

About Matomy

Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) founded in 2007 with headquarters in Tel-Aviv. Matomy is dual-listed on the London and Tel Aviv Stock Exchanges.

Press Contact Information:

Ilan Tamir, Ilan.T@matomy.com , + 972-525156464

   Website:   http://investors.matomy.com 

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May 15, 2020 02:00 ET (06:00 GMT)

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