Audioboom Group PLC Further re SONR Acquisition (9890B)
April 10 2017 - 1:00AM
UK Regulatory
TIDMBOOM
RNS Number : 9890B
Audioboom Group PLC
10 April 2017
10 April 2017
Audioboom Group plc
("Audioboom" or the "Company")
Further re SONR Acquisition
Further to the announcements of 25 January, 1 February and 25
February 2017 regarding the acquisition of SONR News Limited
("SONR"), the Company announces that it has completed the exercise
of the squeeze-out rights available to it under section 979 of the
Companies Act 2006 ("Act") to acquire, on a compulsory basis, the
remaining balance of the issued share capital of SONR ("Remaining
Shares").
In accordance with the provisions of the Act, the remaining
1,943,705 Consideration Shares will be allotted and issued to SONR
which will hold the Consideration Shares on trust for the
transferees of the Remaining Shares until such time as they are
transferred to such transferees. It is expected that the 1,943,705
Consideration Shares will be admitted to trading on AIM at 8.00 am
on 13 April 2017.
The Consideration Shares will, when issued, rank pari passu with
all other Ordinary Shares in issue.
On admission of the 1,943,705 Consideration Shares to trading on
AIM on 13 April 2017, the Company's issued share capital will
comprise 918,495,394 ordinary shares of no par value. 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 change to their interest in, the Company under the
FCA's Disclosure Guidance and Transparency Rules.
Unless otherwise defined in this announcement, capitalised terms
used in this announcement have the same meaning as that prescribed
to them in the announcement of 25 January 2017.
Enquiries:
+44 (0)20 7403
Audioboom Group plc 6688
Rob Proctor, Chief Executive
Officer
David McDonagh, Chief Financial
Officer
Allenby Capital Limited (Nominated +44 (0)20 7167
adviser and broker) 6433
David Hart/James Thomas/Asha
Chotai
+44 (0)20 7933
Walbrook PR Ltd (PR & IR Advisors) 8780
Paul Cornelius/ Sam Allen or audioboom@walbrookpr.com
About Audioboom
Audioboom is the leading spoken--word audio platform for
hosting, distributing and monetising content.
Audioboom works with more than 3,000 active broadcasters,
content creators and podcasters around the world -- including
Cumulus, the BBC, NewsCorp, Associated Press, NBC Sports Radio,
Undisclosed and Global -- hosting more than 10,000 content
channels.
Audioboom's hosting and distribution platform allows partners to
embed, share via social channels and re--syndicate their content.
Audioboom content receives approximately 50m unique file requests
per month, and growing. Additionally, Audioboom works with its
partners to monetise their audio via live in--reads, the dynamic
insertion of pre and post roll audio adverts, and video ads.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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April 10, 2017 02:00 ET (06:00 GMT)
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