Business
Issue of Warrants
Issue of Warrants.
About this update from Audioboom Group Plc
[{"type":"text","content":"\n \nRNS Number : 3976Z Audioboom Group PLC 14 December 2017 \n\n14 December 2017\nAudioboom Group plc\n(\"Audioboom\" or the \"Company\")\n \nIssue of Warrants\n \nAudioboom (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\").\n \nThe 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.\n \nThe warrants are equivalent to approximately 0.5 per cent of the Company's current total number of shares in issue.\n \nThe Company expects to issue a year-end trading update on 18 December.\n \n\n\n\n\nAudioboom Group plc\n\n\n\n\n\n\n\nRob Proctor, Chief Executive Officer\n\n\nTel: +44(0)20 7403 6688\n\n\n\n\n\n\n\n\n\n\n\n\nAllenby Capital Limited (Nominated adviser and broker)\n\n\nTel: +44(0)20 3328 5656\n\n\n\n\nDavid Hart / Alex Brearley / Asha Chotai\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWalbrook PR Limited (PR & IR Advisers)\n\n\nTel: +44(0)20 7933 8780\n\n\n\n\nPaul Cornelius / Sam Allen \n\n\nor [email protected] \n\n\n\n\n \n \nAbout audioBoom \n \nAudioBoom 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. \n \nAudioBoom 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 ...