TIDMBOOM

RNS Number : 5641X

Audioboom Group PLC

20 December 2019

Audioboom Group plc

("Audioboom", the "Group" or the "Company")

Appointment of Chief Executive Officer

Grant of Options

Notice of year end trading update

Audioboom (AIM: BOOM), the leading global podcast company, is pleased to announce the appointment of Stuart Last as Chief Executive Officer and director of the Company, with immediate effect.

Stuart joined Audioboom in 2014 and launched the business in the US, leading all strategy, business development, sales and production operations in the Group's largest market. He served as Chief Operating Officer before being appointed as the Group's interim non-Board Chief Executive Officer on 30 September 2019. Before joining Audioboom, he ran podcast operations at Voxnest in New York. Stuart previously held executive positions at the BBC in London, controlling digital strategy for BBC Radio 2, the UK's largest radio station and overseeing the development of key brands at BBC Radio 1, including the Live Lounge.

Michael Tobin OBE, Chairman of Audioboom, commented:

"The Company continues to go from strength to strength and I am delighted that Stuart has demonstrated the ability to quickly get to grips with the new role. As such the Board has no hesitation in appointing him as CEO. I look forward to working with him closely as the Company continues on its upward journey."

Stuart Last, Chief Executive Officer of Audioboom, commented:

"I'm excited to lead our talented team as we move into a new year of growth. We have a lot of opportunity and hard work in front of us as we expand our original content network and help more advertisers discover the power of podcasting. Audioboom has an exciting future ahead."

Notice of year-end trading update

The Board intends to provide an unaudited trading update in respect of the year ended 31 December 2019 on 20 January 2020.

Option grant

Stuart Last has today been awarded 90,000 options ("Options") over new ordinary shares of no par value in the Company in conjunction with his appointment. All Options have an exercise price of GBP2.075 per share.

The grant is made pursuant to the Company's share option scheme which was adopted on 19 May 2014 (the "Scheme"). The Options may vest and become exercisable over a three year period, subject to the satisfaction of performance conditions relating to how the Company performs by reference to its internal budgets and external market expectations in each of the financial periods ending 31 December 2020, 31 December 2021 and 31 December 2022. They may also vest in certain other prescribed circumstances as provided for in the terms of the Scheme.

The FCA notification in respect of the above Option grant, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.

AIM Rules disclosures

Stuart James Last, aged 39, is, or has during the last five years been, a director or partner of the following companies and partnerships:

 
 Current directorships/partnerships   Past directorships/partnerships 
 
   13 Sinclair Road Limited             None 
 

Stuart Last currently holds 4,172 ordinary shares in the Company, which is equivalent to 0.03% of the Company's voting rights and issued share capital. Following the above mentioned grant of Options, he now holds options over 250,000 ordinary shares in the Company.

Stuart Last has confirmed that there is no further information required to be disclosed pursuant to schedule 2(g) of the AIM Rules for Companies.

Enquiries

 
 Audioboom Group plc 
 Michael Tobin OBE, Chairman                  Tel: +44(0)20 7403 
  Stuart Last, Chief Executive Officer         6688 
  Brad Clarke, Chief Financial Officer 
 
 
 Allenby Capital Limited (Nominated adviser   Tel: +44(0)20 3328 
  and Broker)                                  5656 
 David Hart/Alex Brearley/Asha Chotai 
 
 Walbrook PR Limited (PR & IR Advisers)       Tel: +44(0)20 7933 
                                               8780 
 Nick Rome/Tom Cooper                         or audioboom@walbrookpr.com 
 

About Audioboom

Audioboom is a global leader in podcasting - producing, distributing and monetising premium audio content to millions of listeners around the world. Audioboom operates internationally, with operations and global partnerships across North America, Europe, Asia and Australia.

Audioboom provides technology and advertising services for a premium network of 250 top tier podcasts, with key partners including 'Casefile True Crime' (US), 'The Morning Toast' (US), 'And That's Why We Drink' (US), 'No Such Thing As A Fish' (UK), 'Starburns Audio' (US), 'The Cycling Podcast' (UK) and 'The Totally Football Show' (UK).

The Audioboom Originals Network is a slate of content produced by Audioboom including 'The 45(th) ', 'Covert', 'It's Happening with Snooki & Joey', 'Mafia', 'Dead Man Talking' and 'Blank Check'.

The platform allows content to be distributed via Apple Podcasts, Spotify, BookMyShow, 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                Stuart Last 
     ------------------  --------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------- 
 a)   Position/status      Chief Executive Officer 
     ------------------  --------------------------------------------- 
 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         Options over ordinary shares of no par value 
       of the financial 
       instrument, 
       type of             ISIN: JE00B5NFKB77 
       instrument 
       Identification 
       code 
     ------------------  --------------------------------------------- 
 b)   Nature of           Grant of options 
       the transaction 
     ------------------  --------------------------------------------- 
 c)   Price(s)             Price(s)               Volume(s) 
       and volume(s)        Exercise price of 
                             GBP2.075 per share    90,000 
                                                  ---------- 
     ------------------  --------------------------------------------- 
 d)   Aggregated 
       information 
       - Aggregated 
       volume               90,000 
       - Average 
       Price 
       - Total 
                            GBP2.075 
 
 
 
                            GBP186,750 
     ------------------  --------------------------------------------- 
 e)   Date of             20 December 2019 
       the transaction 
     ------------------  --------------------------------------------- 
 f)   Place of            Outside of trading venue - grant of Options 
       the transaction 
     ------------------  --------------------------------------------- 
 

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END

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December 20, 2019 02:00 ET (07:00 GMT)

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