Exercise of warrants

RNS Number : 8836F

Audioboom Group PLC

23 May 2017

 

Audioboom Group plc

("AudioBoom" or the "Company")

Exercise of warrants

Director/PDMR shareholding

AudioBoom (AIM: BOOM), the leading spoken word audio on-demand platform, announces that it has received exercise notices in respect of warrants to subscribe for 6,993,175 ordinary shares in the Company ("Shares") at an exercise price of 1.5p per share. Accordingly, the Company has today issued 6,993,175 new Shares to the holders of the warrants in return for subscription monies of £104,897.62.

These warrants relate to the acquisition of Audioboo Limited in May 2014 pursuant to which warrants were issued to the vendors. The final exercise date for these warrants has now passed and any remaining warrants from this time have now lapsed.

Within the above totals, Rob Proctor, CEO of the Company, has exercised his warrants to subscribe for 1,000,000 Shares for a total subscription price of £15,000.  Following the issue of the Shares, his holding of Shares will be 2,066,153.

Application has been made for the new Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective at 8.00 a.m. on 26 May 2017.  The Shares will rank pari passu in all respects with existing ordinary shares.

Following Admission, and in accordance with Disclosure Guidance and Transparency Rules, the Company's issued ordinary share capital will be comprised of 930,649,854 Shares.  This figure may be used by shareholders as a 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, AudioBoom under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

Audioboom Group plc	[phone]
Rob Proctor, Chief Executive Officer
David McDonagh, Chief Financial Officer
Allenby Capital Limited (Nominated adviser and broker)	[phone]
David Hart/James Thomas/Asha Chotai
Walbrook PR Ltd (PR & IR Advisors)	[phone]
Paul Cornelius/ Sam Allen	or [e-mail]

About AudioBoom  

AudioBoom is the leading spoken‐word audio platform for hosting, distributing and monetising content.

AudioBoom works with more than 4,400 broadcasters, content creators and podcasters around the world ‐ including Cumulus, the BBC, Associated Press, NBC Sports Radio and Undisclosed ‐ hosting more than 10,000 content channels.

AudioBoom's hosting and distribution platform allows partners to embed, share via social channels and re‐syndicate their content. AudioBoom content receives over 50m 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, mid and post roll audio adverts, and video ads, which unlike most other forms of digital advertising cannot be prevented from being broadcast by ad blockers as it is part of the audio recording.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The following notification is made under article 19 of the Market Abuse Regulation ("MAR").

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Robert Proctor
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Audioboom Group plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of no par value JE00B5NFKB77
b)	Nature of the transaction	Exercise of warrants issued in respect of the acquisition of Audioboo Limited.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.015 1,000,000
d)	Aggregated information Aggregated volume Price	1,000,000 £0.015
e)	Date of the transaction	23 May 2017
f)	Place of the transaction	London Stock Exchange

 

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