TIDMBOOM
RNS Number : 8406H
Audioboom Group PLC
08 December 2020
8 December 2020
Audioboom Group plc
("Audioboom", the "Group" or the "Company")
Further use of podcast content funding guarantee arrangement
Issue of warrants with exercise price of GBP3.30 per share
Audioboom (AIM: BOOM), the leading global podcast company, has
further utilised the Company's content funding guarantee facility
(the "Facility"), which was first announced on 17 June 2019, in
relation to the signing of a major new podcast partner. The podcast
is a leading US-based show that has consistently appeared in the
Apple Podcasts Top 100 over the past five years.
The Facility is provided by SPV Investments Ltd (the "SPV"), a
special purpose vehicle owned equally by Michael Tobin, the
Company's Chairman, and Candy Ventures sarl, the Company's largest
shareholder.
The Facility was created to provide minimum revenue guarantees
up to an aggregate of US$4 million at any one time to certain
leading new content providers or, on contract renewal, to existing
content partners of the Company. This secures the minimum
guaranteed advertising revenue share payable to the content
partners pursuant to their commercial agreements with Audioboom
without tying up the Company's working capital. The provision of
guarantees remains very much an exception when negotiating terms
with content partners and the guarantees from the SPV are only used
to secure leading, high profile, high revenue producing
podcasts.
Following this latest use of the Facility, the remaining amount
currently available under the Facility is approximately US$1.0
million.
Pursuant to the terms of the Facility, the provision of this
latest guarantee by the SPV has led to a grant of 31,250 warrants
to subscribe for ordinary shares in the Company, split equally
between Michael Tobin and Candy Ventures sarl. The exercise price
of these warrants will be GBP3.30 per share each, with such
warrants being exercisable for five years from grant. A total of
100,000 warrants have now been issued pursuant to the Facility,
which is the maximum number of warrants being capable of issue in
this regard.
The Facility is distinct from the loan facility provided by the
SPV as announced on 7 February 2020.
The FCA notifications in respect of the grant of warrants, made
in accordance with the requirements of the EU Market Abuse
Regulation, are appended below.
Enquiries
Audioboom Group plc Tel: +44(0)300 303 3765
Stuart Last, Chief Executive Officer
Brad Clarke, Chief Financial Officer
Allenby Capital Limited (Nominated Adviser Tel: +44(0)20 3328 5656
and Broker)
David Hart /Alex Brearley/Asha Chotai
About Audioboom
Audioboom is a global leader in podcasting - our shows are
downloaded more than 85 million times each month by 25 million
unique listeners around the world. Audioboom is ranked as the 6th
largest podcast publisher in the US by Triton Digital.
Audioboom's ad-tech and monetisation platform underpins a
scalable content business that provides commercial services for a
premium network of 250 top tier podcasts, with key partners
including 'Casefile True Crime' (US), 'Morbid' (US), 'True Crime
Obsessed' (US), 'The Morning Toast' (US), 'No Such Thing As A Fish'
(UK), and 'The Cycling Podcast' (UK).
The Audioboom Originals Network is a slate of content developed
and produced by Audioboom including 'Baby Mamas No Dramas',
'Covert', 'It's Happening with Snooki & Joey', 'Mafia',
'Huddled Masses' and 'What Makes A Killer'.
Audioboom operates internationally, with operations and global
partnerships across North America, Europe, Asia and Australia. For
more information, visit audioboom.com. The platform allows content
to be distributed via Apple Podcasts, Spotify, Pandora, Amazon
Music, Deezer, Google Podcasts, iHeartRadio, RadioPublic, Saavn,
Stitcher, Facebook and Twitter as well as a partner's own websites
and mobile apps. For more information, visit audioboom.com.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Candy Ventures SARL
------------------ ----------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Candy Ventures SARL is a person closely associated
with Audioboom Group plc's Non-Executive
Director, Steven Smith who is a person discharging
managerial responsibilities
------------------ ----------------------------------------------------
b) Initial Initial notification
notification
/Amendment
------------------ ----------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Audioboom Group plc
------------------ ----------------------------------------------------
b) LEI 213800QO681575J97813
------------------ ----------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------
a) Description Warrants over o rdinary shares of no par
of the financial value
instrument,
type of
instrument ISIN: JE00B5NFKB77
Identification
code
------------------ ----------------------------------------------------
b) Nature of Grant of Warrants
the transaction
------------------ ----------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) Exercise price of GBP3.30
per share 15,625
----------
------------------ ----------------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Average
Price
------------------ ----------------------------------------------------
e) Date of 7 December 2020
the transaction
------------------ ----------------------------------------------------
f) Place of Outside of trading venue - grant of Warrants
the transaction
------------------ ----------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Michael Tobin
------------------ ---------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Non-Executive Chairman
------------------ ---------------------------------------------
b) Initial Initial notification
notification
/Amendment
------------------ ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Audioboom Group plc
------------------ ---------------------------------------------
b) LEI 213800QO681575J97813
------------------ ---------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------
a) Description Warrants over o rdinary shares of no par
of the financial value
instrument,
type of
instrument ISIN: JE00B5NFKB77
Identification
code
------------------ ---------------------------------------------
b) Nature of Grant of Warrants
the transaction
------------------ ---------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) Exercise price of GBP3.30
per share 15,625
----------
------------------ ---------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Average
Price
------------------ ---------------------------------------------
e) Date of 7 December 2020
the transaction
------------------ ---------------------------------------------
f) Place of Outside of trading venue - grant of Warrants
the transaction
------------------ ---------------------------------------------
-S-
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END
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