Notification of interest in shares

RNS Number : 2019Y

Audioboom Group PLC

07 September 2015

 



7 September 2015

Audioboom Group plc

(the "Company" or "Audioboom")

Notification of interest in shares

The Company received notification on 4 September 2015 that 7Digital Group plc sold on that date 58,000,000 ordinary shares in the Company, representing its entire 10.8 per cent stake.  It has also agreed to sell all of its warrants to subscribe for ordinary shares.  All of these ordinary shares and warrants have been placed with institutional and individual investors, several of whom are existing shareholders in the Company.

Rob Proctor, Chief Executive of Audioboom, commented:  "We are delighted that this placing of a substantial equity stake is now complete and that several of our existing institutional and individual shareholders have increased their holdings.  I would personally like to thank UBC/7Digital for their support over the last 4 years and I am pleased that Audioboom has now been able to assist with their future growth.  I believe that this placing underlines the continued support of our major investors and demonstrates the level of belief that they have in the team and our global strategy to create the world's first audio content syndication and advertising network."

Audioboom Group plc	Tel: [phone]
Rob Proctor, Chief Executive Officer
David McDonagh, Chief Financial Officer
Arden Partners plc - NOMAD and Broker	Tel: [phone]
Chris Hardie/Ciaran Walsh, Corporate Finance
Walbrook PR	Tel: [phone] or [e-mail]
Sam Allen / Paul McManus	Mob: [phone] / Mob: [phone]

About Audioboom (www.audioboom.com)

Audioboom is the leading mobile, web and connected device platform for the very best spoken-word content in news, current affairs, business, entertainment and sports.

It operates a digital, on-demand, streaming 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 3,000 active content partners, including the BBC, Telegraph, Guardian, Cumulus, Sky Sports, Premier League, Southern Cross Austereo, Reuters, CNBC, Universal and Fox.

Audioboom is using this platform to create the world's first aggregated audio content syndication and advertising network.

 

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