Audioboom Group PLC Year-end 2014 trading update (9641Z)
December 17 2014 - 2:00AM
UK Regulatory
TIDMBOOM
RNS Number : 9641Z
Audioboom Group PLC
17 December 2014
17 December 2014
Audioboom Group plc
("Audioboom" or the "Company")
Year-end 2014 trading update
Audioboom (AIM: BOOM), the digital social media platform,
provides a trading update for the year ended 30 November 2014, a
year of growth in registered users and content partners, and the
establishment of a platform for accelerated future growth.
Highlights
-- Trading continues in line with market expectations - the
successful fundraising in October will allow for certain
expenditure for growth to be accelerated into 2015
-- Year-end cash balance of c. GBP8.9 million
-- Over 2,000 content partners, an increase of 675% over 12
months (Nov 2013: 297), with major content partners such as Sky
News Radio, Global Radio Group, Magic FM and Ladbrokes recently
added - see separate RNS Reach announcement for more
information
-- 3.14 million registered users, up 64% on same time last year (Nov 2013: 1.92 million)
-- The Company expects to release its audited results for the
year ended 30 November 2014 on 23 February 2015
Directorate change
Brian Southward, a non-executive director of the Company, has
today resigned from the Board following a successful transition to
the new non-executive directors appointed at the time of the
October fundraising. The Board would like to thank Brian for his
good counsel since the acquisition of Audioboom, re-admission to
AIM and during the subsequent fundraising and for all his
assistance during this transitional period.
Issue of shares
As announced at the time of his appointment to the Board on 13
October 2014, the first year of remuneration for Malcolm Wall, the
Chairman of the Company, of GBP35,000 is to be settled by way of an
issue of shares on a basis consistent with that of the other
non-executives appointed at the time of the re-admission of the
Company to AIM and subsequently, except that the shares are to be
issued at 12.5 pence per share, the price of the October placing.
In this respect the Company has today issued 280,000 new ordinary
shares to Mr Wall, who will as a result hold 480,000 ordinary
shares in the Company. Following the issue of the shares and their
admission to AIM, the total number of ordinary shares in the
Company in issue will be 533,014,557. This 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
a change to their interest in, their shareholding in Audioboom.
Enquiries:
Audioboom Group plc www.audioboomplc.com
Rob Proctor, CEO Tel: 020 7403 6688
Arden Partners plc Tel: 020 7614 5929
Chris Hardie / Ciaran Walsh,
Corporate Finance
Walbrook PR Tel: 020 7933 8780 or audioboom@walbrookpr.com
Sam Allen Mob: 07884 664 686
Paul McManus Mob: 07980 541 893
About Audioboom (www.audioboom.com)
Audioboom Group plc is a SaaS based digital social media audio
platform enabling the creation, broadcast and consumption of audio
across multiple global media outlets. Audioboom works with some of
the biggest names in broadcasting across sport, entertainment and
current affairs to bring their content to millions of listeners
worldwide via Facebook, Twitter and other media platforms.
The technology allows partners to embed playlists onto their
sites and apps, use our mobile apps and functionality as listen
again players and re-syndicate their content around the web.
Audioboom also allows the monetisation of audio via the dynamic
insertion of pre and post roll advertising into content as a user
is listening, allowing contemporary advertising selection,
depending on content genre and geographic location of the user.
Audioboom has over 2,000 content partners, including the BBC,
Telegraph, Guardian, CBS, Sky Sports, Premier League, Southern
Cross Austereo, Reuters, CNBC, Universal andFox.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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