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The affiliate business, which no longer has any continuing operations, said it has no plans to make an acquisition and, as such, its shares will be suspended from 12 May.

It follows the business selling its European and Canadian operations to Gambling.com, and its North American assets to Sportradar in 2024 for $41.2m and $21m respectively.

While this money largely returned to shareholders, the company outlined some would be used to settle outstanding tax liabilities.

XLMedia CEO David King said: “We have made substantial progress in reducing costs having successfully completed the transition of both European and North American assets to new owners.

“The outstanding tax liabilities remain the most significant residual cost and we are working rapidly with our advisers with a view to early submission of final tax returns. However at this point we have no certainty over the timescales for final agreement from each tax authority.”

Just seven employees remain

During the wind-down process nearly all the company’s staff members have left, with XLMedia reporting its headcount falling from 146 to 17 during 2024.

The business added a further 10 employees have exited the company in Q1 2025.

XLMedia’s delisting will mark the end of the company’s just over a decade on the London Stock Exchange, where it was floated in 2014.

The business, which was founded in 2008, is widely regarded as a pioneer in the gambling affiliate world.

Marcus Rich, XLMedia chair, added: “We are pleased to have realised value for shareholders from the sale of the group’s assets having made an initial return of capital in February.

“It is our intention to make a further return of capital prior the company’s shares being suspended which is expected to take place on or around 12 May 2025.”