Just read the release - very sensible18 Feb 2023 09:51
AUDIOBOOM CONSORTIUM KEY INITIATIVES
The Consortium has formed to promote stockholder value in Audioboom through a commitment
to the following initiatives:
a. Commitment by Consortium members to hold their Audioboom shares for so long as they
remain in the Consortium - an initial period of 30 days, automatically extendable for a
rolling period of 30 days.
b. Prohibition on stock lending and short selling among Consortium members.
c. An open letter to the Audioboom Board requesting a statement from directors that they
and their affiliates will not be involved in stock lending and or short selling and asking any
directors unwilling or unable to make such statement to resign with immediate effect.
d. Requesting the appointment of an independent director to the Audioboom Board with a
view to expanding the strategic and institutional shareholder base of Audioboom and
ensuring the share price reflects fundamentals.
e. Commitment to work with the Audioboom Board to introduce and explore tangible
partnership opportunities which could expand its businesses into under-served nonEnglish language markets, specifically in Asia and Latin America.
E&L plans to commence a formal dialogue with the Audioboom Board and with its CEO on
behalf of the Consortium in due course and present it with concrete options on how to unlock
material value for shareholders in the near, medium and longer term