Exercise of warrants

RNS Number : 2557E

Audioboom Group PLC

05 May 2017

 

5 May 2017

Audioboom Group plc

("AudioBoom" or the "Company")

Exercise of warrants

AudioBoom (AIM: BOOM), the leading spoken word audio on-demand platform, announces that it has received an exercise notice in respect of warrants to subscribe for 4,626,463 ordinary shares in the Company ("Shares") at an exercise price of 1.5p per share and associated subscription monies. These warrants relate to the acquisition of Audioboo Limited in May 2014 pursuant to which warrants were issued to the vendors. Accordingly, the Company has today issued 4,626,463 new Shares to the holder of the warrants and has received gross proceeds of £69,397. 

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 10 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 923,656,679 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, NewsCorp, Associated Press, NBC Sports Radio, Undisclosed and Global ‐ 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.

 

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