Last checked at 14 Dec 2017 14:00
14 December 2017
Audioboom Group plc
("Audioboom" or the "Company")
Issue of Warrants
Audioboom (AIM: BOOM), the leading spoken-word audio on-demand platform, announces that it has today issued 4,500,000 warrants to subscribe for ordinary shares in the Company to one of its largest US podcast partners as part of the renewal of their Content Partner Advertising Inventory Agreement (the "Agreement").
The warrants have an exercise price of 3.125p (being the prevailing mid-price of an ordinary share at the date terms were agreed). The warrants will become exercisable in three equal tranches of 1,500,000 on each of 1 August 2018, 1 August 2019 and 1 August 2020 respectively, provided that the partner continues to engage with Audioboom pursuant to the Agreement (or any successor agreement) on the relevant date. The warrants have a final exercise date of 1 August 2022.
The warrants are equivalent to approximately 0.5 per cent of the Company's current total number of shares in issue.
The Company expects to issue a year-end trading update on 18 December.
Audioboom Group plc | |
Rob Proctor, Chief Executive Officer | Tel: +44(0)20 7403 6688 |
Allenby Capital Limited (Nominated adviser and broker) | Tel: +44(0)20 3328 5656 |
David Hart / Alex Brearley / Asha Chotai | |
Walbrook PR Limited (PR & IR Advisers) | Tel: +44(0)20 7933 8780 |
Paul Cornelius / Sam Allen | or audioboom@walbrookpr.com |
About audioBoom
AudioBoom is a global podcasting platform that consolidates the business of on-demand audio, making content accessible, wide-reaching and profitable for podcasters, advertisers and brands. AudioBoom operates internationally, with operations across North America, Europe, Asia, Australia and Latin America, and addresses the issue of disparate podcast services by putting all of the pieces of the puzzle together under one umbrella, creating a user-friendly, economical experience.
AudioBoom hosts over 12,000 content channels, with key content partners including Associated Press (US), "Athletico Mince" (UK), The BBC (UK), Cumulus Media (US) , Edith Bowman (UK), "The Heart of It with Estée Lalonde" (UK), India Today (India), "News Roast" (UK), "No Such Thing As A Fish" (UK), Red FM (India), "The Totally Football Show" (UK), "Untold: The Daniel Morgan Murder" (UK), "Undisclosed" (US) and Westwood One (US).
Original content produced by AudioBoom includes "The 45th" (US), "I Almost Knew That" (India), "Corinne Bailey Rae: The Heart Speaks in Whispers" (UK), "Ctrl Alt Win Podcast" (India), "Deliberations" (US), "InBox (US), "It's Happening with Snooki & Joey" (US), "Mission To Zyxx" (US), "The Russell Brand Podcast" (UK) and "Very Bad Words" (US).
The platform receives over 60 million listens per month and allows partners to share their content via Apple Podcasts, BookMyShow, Deezer, Google Play, iHeartRadio, Saavn, Spotify, Stitcher, Facebook and Twitter as well as their own websites and mobile apps.
For more information for podcasters, advertisers and listeners, visit audioboom.com.