Year-end 2014 trading update

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. £8.9 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 £35,000 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: [phone]
Arden Partners plc	Tel: [phone]
Chris Hardie / Ciaran Walsh, Corporate Finance
Walbrook PR	Tel: [phone] or [e-mail]
Sam Allen	Mob: [phone]
Paul McManus	Mob: [phone]

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.

 

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