Business
SONR Additional Acceptance
SONR Additional Acceptance.
About this update from Audioboom Group Plc
[{"type":"text","content":"\n \nRNS Number : 7334X Audioboom Group PLC 24 February 2017 \n\n24 February 2017 \n \nAudioboom Group plc\n(\"Audioboom\" or the \"Company\")\n \nFurther issue of shares pursuant to the acquisition of SONR News Limited\n \nFurther to the announcements of 25 January and 1 February 2017 regarding the acquisition of SONR News Limited (\"SONR\"), the Company has received a further acceptance of its offer to purchase the entire issued share capital of SONR.\n \nAccordingly, a further 1,828,913 Consideration Shares will be allotted and issued to the holder who has accepted the offer, and these shares will be admitted to trading on AIM on 2 March 2017. \n \nAudioboom is in the process of exercising the squeeze-out rights available to it under section 979 of the Companies Act 2006 to acquire, on a compulsory basis, the remaining balance of the issued share capital of SONR, the consideration for which will be the remaining 1,943,705 Consideration Shares. \n \nThe Acquisition Agreement provides that each of the recipients of Consideration Shares who have accepted the offer will not be entitled to dispose of their Consideration Shares for a period of nine months after the date of admission to AIM. Otherwise, all Consideration Shares will, when issued, rank pari passu with all other Ordinary Shares in issue.\n \nOn admission of the 1,828,913 Consideration Shares to trading on AIM on 2 March 2017, the Company's issued share capital will comprise 695,937,991 ordinary shares of no par value each, which 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, Audioboom under the Disclosure and Guidance Transparency Rules.\n \nA further update will be provided in due course.\n \nCapitalised terms used in this announcement have the same meaning as that prescribed to them in the announcement of 25 January.\n \nEnquiries:\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\nDavid McDonagh, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLiberum (NOMAD and Broker)\n\n\nTel: +44 (0)20 3100 2222\n\n\n\n\nNeil Patel / Richard Bootle\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHudson Sandler\...