Sharecast News
23 Jul, 2021 15:01

AAA still 'fully committed' after Audioboom rejects offer

microphone podcast radio recording audio studio audioboom

All Active Asset Capital (AAA) updated the market on its proposed acquisition of podcast provider Audioboom on Friday, after Audioboom rejected its possible offer a day earlier.

The AIM-traded firm said it was still “fully-committed” to continuing conversations and engaging further with Audioboom, to expanding on the merits of its possible offer and to seeking a recommendation.

It noted that shareholders representing over one-quarter of Audioboom's equity had already given their irrevocable support to the indicatively priced £12 per share possible offer, being 12.5 new AAA shares and 200p in cash for each Audioboom share.

“AAA recognises Audioboom's concern about the majority of the possible offer consideration being unquoted equity, following its forthcoming delisting from AIM on 30 July,” the board said in its statement.

“AAA continues to work actively on securing a relisting of its shares on an international exchange, and looks forward to providing ongoing updates regarding progress in due course.”

The board of AAA cautioned that there could be no certainty that its proposal would result in an offer for the company, nor as to the terms on which any offer could be made.

At 1221 BST, shares in Audioboom Group were up 0.84% at 958p.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.