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Incredible editorial which sums everything up in a nutshell! Again, a great find BigShow. No arguments about the facts.

Very interesting read. Thx BigShow. Lots in the melting pot. What the article does emphasis is the increasing interest in podcasts by Amazon, Netflix and YouTube. Does this translate into what Audioboom has to offer and thus attract their attention.

A few thoughts on the price action yesterday and especially today. This has nothing to do with expected Q1 results. Even though the figures will probably be excellent this wouldn’t warrant a 21.5% rise today. So there’s obviously a significant corporate impact play. I did think that Dowgate had been made an insider as they’ve done no trading for a month or two until today’s announcement. I assume therefore that there’s no share placing on the cards as Dowgate would almost certainly been invited. However maybe allocation could be after announcement. I can’t see private equity getting involved because Candy , Tobin etc wouldn’t give away shares at a low valuation which PE would negotiate.

My feeling is leaning towards a merger with ACAST. This has always been a possibility. The great attraction is that this would enable the joint enterprise to get onto NASDAQ and as a major company. Its size would get the notice of new US investors. This would be a really exciting prospect. AB have a respected Wall Street adviser who could lead the way.

All in my opinion.

Dates of trades not given but it looks like they’ve been tardy in their reporting. This is a meaningful further investment by Dowgate. They’ve could

have had an order in over the past weeks which was being filled by the string of sales in that time. So someone was holding the shares off book for them ?

That’s what a call a considered post from Mcsquares. It’s a balanced view and an analysis of podcasting and in particular Audioboom. The future is what is being studied at the moment by various parties interested in an investment in AB. I bet no one posts a contrary view with meaningful comments.

Longt3rminvestor. The window of 10th to 15th April for the release of Q1, FY25 was on balance always going to be towards the later date. Management and advisers want as much time to get the SR finalised and cement some partnerships such as Apple. Who knows what the final conclusion will be. But it seems to be under tight wraps at the moment!

You might be right LongTerm. The SR has had an affect on presentations, other updates etc for 6 months now. I do think we’ll have the news by 15th April latest.

There should be an RNS giving 5 to 7 days notice of the Q1 and final FY26 results. So perhaps the notice could be tomorrow.

Big show, Audioboom will announce when they’re ready. Maybe a special deal as you say. Here’s a paste of my post on 26th March. My comments still stand.

I’m sure Audioboom will integrate with Apple for video - they have been the number one video network over the past year after all. But it’s worth remembering two things;

1. Apple are more concerned with having the maximum number of podcasts available in video form in their app. Audioboom’s model is different - they focus on fewer podcasts but with bigger audiences, so Apple may have focused first on networks with higher volumes of podcasters.

2. Audioboom’s advertising product Showcase is making them a lot of money. But video podcast distribution has some limitations on how Showcase delivers ads into video - so they won’t want to interrupt that revenue and will be navigating their work with Apple carefully

Oops, hadn’t noticed my previous post !!

Andy spoke clearly and positively, he’s a great asset from the Adelicious team.

Andy spoke very clearly and logically. A great asset brought in from the Adelicious acquisition. Well found BigShow.

Well written M0neyMan. 100% with you.

Lor_9

You may be correct about fundraising behind the scenes.

The last time a major shareholder traded was 5th February. I think this indicates that they can’t trade as they are all insiders.

Dowgate has a history of trading and they most certainly would have traded recently. The most trades recent are:

5th February Sale 2175 £5.56

28th January Buy 2000 £6.44

27th January Buy 9484 £6.47

31st December Buy 7300 £7.80

Herald sold 10000 on 29th January

Going back to what happened to the price of Audioboom when the Adelicious acquisition was announced on 16th July 2025. The share placement price was £2.70. It rose to £3.62 the next day. By 18th August £4.45 and on 15th September £5.05. The recovery was rapid.

For the future we can look at the terms of the Adelicious acquisition as there are two outstanding payment for the consideration price.

i) Deferred consideration of £3m due on 30th June 2026. The actual settlement will depend on the total annual revenue of Adelicious (excluding SMA contract) on a sliding scale between £4m and £8m revenue.

ii) Contingent consideration of up to £2.5m payable in connection with the SMA contract if annual revenue exceeds the £2m per annum minimum guarantee agreed with SMA.

Whether these will be met by internally generated funds I would expect so as the management would have done the necessary cash flow projections and are excellent at achieving there plans and run a tight financial ship.

It’s been said before, but any deal of any kind has to be significant in size for Audioboom to make a serious step change in the industry.

The machinations at the moment in the industry are truly exciting! There is so much potential and a wide variety of players and options. That’s why management employed Rockefeller and Goodwin to do the leg work. There’s definitely a deal out there to be done. But what price. That’s the issue.

I’m sure Audioboom will integrate with Apple for video - they have been the number one video network over the past year after all. But it’s worth remembering two things;

1. Apple are more concerned with having the maximum number of podcasts available in video form in their app. Audioboom’s model is different - they focus on fewer podcasts but with bigger audiences, so Apple may have focused first on networks with higher volumes of podcasters.

2. Audioboom’s advertising product Showcase is making them a lot of money. But video podcast distribution has some limitations on how Showcase delivers ads into video - so they won’t want to interrupt that revenue and will be navigating their work with Apple carefully

Willy, you can easily work this out if you do your own research.

The company has traditionally given Q1 trading update and FY financials between 10th and 15th.

This is their statement in the RNS in January:

The Strategic Review announced on 3 October remains ongoing, and the Board expects to provide an update on or before the publication of the Company's results for the year ended 31 December 2025 in April 2026.

Anytime between 10th and 15th April. Q1 26 and Final FY25 results. At the same time an announcement on the Strategic Review.

As you say Big Show the initial impetus up to 520p was nt sustained. The trading is in bigger transaction sizes than normal. Not unusual to have 4k shares which is around £20k value. So not the usual day trader hundreds.

I don’t agree that a deal would have been leaked by now. The Adelicious acquisition last July was kept closely under wraps and surprised the market. The quality of advisers is excellent and would not have been employed unless there was a serious probability of merger, sale or acquisition. No long term holder have sold as they have not notified the market. The fall in price is due to general malaise in the markets with all shares down significantly. Day traders are the only people selling. They represent a minority of investors. That’s fine but I believe it’s posters like you that live in a bubble and for sure yours is the one which is going to burst.

Mav sums it up excellently and this is the view of the majority.