TIDMBOOM

RNS Number : 7334X

Audioboom Group PLC

24 February 2017

24 February 2017

Audioboom Group plc

("Audioboom" or the "Company")

Further issue of shares pursuant to the acquisition of SONR News Limited

Further to the announcements of 25 January and 1 February 2017 regarding the acquisition of SONR News Limited ("SONR"), the Company has received a further acceptance of its offer to purchase the entire issued share capital of SONR.

Accordingly, a further 1,828,913 Consideration Shares will be allotted and issued to the holder who has accepted the offer, and these shares will be admitted to trading on AIM on 2 March 2017.

Audioboom is in the process of exercising the squeeze-out rights available to it under section 979 of the Companies Act 2006 to acquire, on a compulsory basis, the remaining balance of the issued share capital of SONR, the consideration for which will be the remaining 1,943,705 Consideration Shares.

The Acquisition Agreement provides that each of the recipients of Consideration Shares who have accepted the offer will not be entitled to dispose of their Consideration Shares for a period of nine months after the date of admission to AIM. Otherwise, all Consideration Shares will, when issued, rank pari passu with all other Ordinary Shares in issue.

On admission of the 1,828,913 Consideration Shares to trading on AIM on 2 March 2017, the Company's issued share capital will comprise 695,937,991 ordinary shares of no par value each, which figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, Audioboom under the Disclosure and Guidance Transparency Rules.

A further update will be provided in due course.

Capitalised terms used in this announcement have the same meaning as that prescribed to them in the announcement of 25 January.

Enquiries:

 
Audioboom Group plc 
Rob Proctor, Chief Executive  Tel: +44 (0)20 7403 6688 
 Officer 
David McDonagh, Chief 
 Financial Officer 
 
Liberum (NOMAD and Broker)    Tel: +44 (0)20 3100 2222 
Neil Patel / Richard Bootle 
 
Hudson Sandler 
Cat Valentine / Jocelyn       Tel: +44 (0)20 7796 4133 
 Spottiswoode

About Audioboom

Audioboom is the leading spoken--word audio platform for hosting, distributing and monetising content.

Audioboom works with more than 3,000 active broadcasters, content creators and podcasters around the world -- including Cumulus, the BBC, NewsCorp, Associated Press, NBC Sports Radio, Undisclosed and Global -- hosting approximately 9,500 content channels.

Audioboom's hosting and distribution platform allows partners to embed, share via social channels and re--syndicate their content. Audioboom content receives more than 40m unique file requests per month, and growing. Additionally, Audioboom works with its partners to monetise their audio via live in--reads, the dynamic insertion of pre and post roll audio adverts, and video ads.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCDXLFLDLFXBBV

(END) Dow Jones Newswires

February 24, 2017 02:00 ET (07:00 GMT)

Audioboom (LSE:BOOM)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Audioboom Charts.
Audioboom (LSE:BOOM)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Audioboom Charts.