REG - Audioboom Group PLC - Additional subscription to raise a further £0.5m <Origin Href="QuoteRef">BOOMA.L</Origin>

AudioboomAnnouncement

07/04/2017 07:11

RNS Number : 8634B
Audioboom Group PLC
07 April 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR").
7 April 2017
Audioboom Group plc
("Audioboom" or the "Company")
Additional subscription to raise a further 0.5m
Audioboom Group plc (AIM:BOOM), the leading spoken word audio on-demand platform, is pleased to announce that it has conditionally raised a further 500,000 by way of an additional subscription of 20,000,000 new ordinary shares with a new institutional VCT investor. All shares issued pursuant to the subscription will be issued at a price of 2.5 pence per new ordinary share. 
Application will be made for 20,000,000 ordinary shares, which will rank pari passu with existing ordinary shares in the Company, to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00am on 12 April 2017, following which the total number of ordinary shares and voting rights in the Company will be 916,551,689. This number 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 a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. 
Rob Proctor, CEO of Audioboom, commented: "We are delighted to announce this further investment from a new, single institution. This 0.5m investment, coupled with the 4.0 million raised recently, will enable us to accelerate the growth and development of Audioboom."
Enquiries: 
Audioboom Group plc
+44 (0)20 7403 6688
Rob Proctor, Chief Executive Officer

David McDonagh, Chief Financial Officer



Allenby Capital Limited (Nominated adviser and broker)
+44 (0)20 7167 6433
David Hart/James Thomas/Asha Chotai



Walbrook PR Ltd (PR & IR Advisors)
+44 (0)20 7933 8780
Paul Cornelius/ Sam Allen
or audioboom@walbrookpr.com
About Audioboom
Audioboom is the leading spokenword audio platform for hosting, distributing and monetising content.
Audioboom works with more than 3,000 active broadcasters, content creators and podcasters around the worldincluding Cumulus, the BBC, NewsCorp, Associated Press, NBC Sports Radio, Undisclosed and Globalhosting more than 10,000 content channels.
Audioboom's hosting and distribution platform allows partners to embed, share via social channels and resyndicate 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 inreads, the dynamic insertion of pre and post roll audio adverts, and video ads.

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