TIDMBOOM
RNS Number : 7244S
Audioboom Group PLC
18 July 2022
This announcement contains inside information as stipulated
under the UK Market Abuse Regulations ("MAR")
Audioboom Group plc
("Audioboom", the "Group" or the "Company")
Half-Year Report
Audioboom (AIM: BOOM), the leading global podcast company, is
pleased to announce its unaudited half-year results for the six
months ended 30 June 2022.
Financial Highlights and KPIs
-- Record H1 revenue of US$40.9 million, up 79% on H1 2021 (US$22.8 million)
-- Record Q2 revenue of US$21.2 million, up 59% on Q2 2021 (US$13.3million)
-- Adjusted EBITDA* profit of US$2.0 million (H1 2021: US$0.2 million)
-- Average Q2 global monthly downloads increased to 124.0
million, up 35% on Q2 2021 (92.1 million). Global downloads in May
2022 reached 133.0 million
-- Average Q2 brand advertiser count of 376, up 15% on Q2 2021 (326)
-- Average global revenue per 1,000 downloads (eCPM) increased
to US$56.66 in Q2 2022, up 12% (Q2 2021: US$50.73)
-- Group cash of US$5.8 million with further available funds
from the undrawn US$1.8 million HSBC overdraft
Commercial Highlights
-- Continued growth of Showcase, our global advertising
marketplace - revenue from advertising technology in H1 2022 more
than 150% greater than in H1 2021, and now contributing more than
12% to Group revenue
-- New demand-side/monetisation partners added to Showcase,
including NZME, Soundstack, and Instreamatic
-- Further success for Audioboom Studios with new titles Devils
in the Dark and The Criminal Makeup reaching the top 15 of the UK
Apple Podcast chart
-- New exclusive partnerships launched in Audioboom's Creator
Network with major podcasts including: The Roman Atwood Podcast;
Fair Game with Leah Remini; and Speak The Truth
-- Long-term renewal of key content partnerships in our Premium
Network, including Dark History, Murder Mystery Makeup, No Such
Thing As A Fish, Casefile True Crime, Mile Higher, Strange &
Unexplained, Lights Out and The Sesh
-- Climbed to third position (previously fourth) in Triton
Digital's ranker of the largest US podcast publishers based on
weekly audience reach for May 2022
* Earnings before interest, tax, depreciation, amortisation,
share based payments, non-cash foreign exchange movements and
material one-off items
Stuart Last, CEO of Audioboom, commented:
"I am delighted to report on another period of strong
performance for Audioboom as we delivered record quarterly revenue
in Q2, and increased our H1 revenue by 79% over the same period in
2021. Our adjusted EBITDA for the period was US$1.8 million higher
than H1 2021, while our cash position of US$5.8 million is the
strongest the Company has ever reported.
Those numbers are impressive and are the result of our focus on
building a platform that efficiently powers podcasting for creators
and brands. Showcase - our scalable automated ad marketplace - goes
from strength to strength, now delivering more than 12% of group
revenue, while Audioboom Studios in the UK is consistently creating
hit shows for British listeners.
2022 has presented global challenges and the advertising market
is not immune to those, however, podcast revenue is expected to
grow at a quicker pace than most other forms of audio and we are
confident that our proven monetisation model will continue to
deliver great value for brands. And with more than US$68m of
advertising bookings secured for 2022 - already 13% more than last
year's total revenue - we are well placed to continue our growth
and achieve our 2022 goals."
Enquiries
Audioboom Group plc
Stuart Last, Chief Executive Officer Tel: +44(0)20 3714 4285
Brad Clarke, Chief Financial Officer
finnCap Ltd (Nominated Adviser and Broker)
Jonny Franklin-Adams/Abigail Kelly/Milesh Hindocha Tel: +44(0)20 7220
(Corporate Finance) 0500
Richard Chambers/Harriet Ward (ECM)
About Audioboom
Audioboom is a global leader in podcasting - our shows are
downloaded 133 million times each month by 35 million unique
listeners around the world. Audioboom is ranked as the third
largest podcast publisher by average weekly users in the US by
Triton Digital.
Audioboom's ad-tech and monetisation platform underpins a
scalable content business that provides commercial services for
more than 8,000 podcasts, with key partners including 'Casefile
True Crime' (US), 'True Crime Obsessed' (US), 'The Morning Toast'
(US), 'No Such Thing As A Fish' (UK), and 'The Cycling Podcast'
(UK).
Audioboom Studios is home to a slate of content produced by
Audioboom including 'Devils in the Dark', 'F1: Beyond The Grid',
'RELAX!', '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. 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.
Chief Executive's Report
Strategy and Business Model
Audioboom powers podcasting for creators and brands. This is the
simple messaging behind our recently updated branding and
relaunched website , and highlights the crucial role that Audioboom
plays in the podcast space. Over the past few years, we have
generated more than US$150 million in revenue for our podcast
creators and helped thousands of brands deliver their campaign
goals.
The Audioboom platform sits at the heart of a three-sided
marketplace, connecting creators and their content with advertisers
and engaged audiences. Podcasting as a medium can only maximise its
value when all three elements of this marketplace are connected -
Audioboom does this at scale, and with great efficiency.
Creators are the heartbeat of the platform. Our technology
enables more than 8,000 podcasters to manage their content
publishing process, grow their audience, distribute with one click
to all major listening apps, and see insights into the consumption
of their content with our data and analytics dashboard.
Audioboom's primary growth strategy continues to be focused on
the development of partnerships with the best creators in
podcasting - both established top-tier podcasters with strong,
built-in audiences, and up-and-coming talent with whom we can
partner to help develop their product and support their growth in
listenership. Successful execution of this content growth strategy
can be seen in our Global Monthly Downloads KPI - a measure of
consumption - which has seen growth of 35% over the past year,
reaching a new high of 133 million in the month of May.
Growth in downloads is a proxy for the levels of advertising
inventory we are able to produce within the platform. To monetise
this fast-growing inventory we have established an advertising
model with two clearly defined products for brands to buy.
Our Premium advertising offering is a high-value ad unit in
which the host of the podcast delivers campaign messages for the
brand and endorses the product directly to their engaged audience.
The ads are native to the content - minimising ad-skipping - and
the performance of the campaigns can be tracked very accurately
through attribution technology, allowing brands to measure return
on investment at an individual podcast level. As a result, our
Premium ad product delivers strong pricing between US$25 and US$50
per 1,000 ad impressions.
Our second advertising offering, Showcase, is an automated
advertising marketplace in which our technology connects our
available advertising inventory to an ecosystem of ad buyers
globally. Ads are pre-produced and injected into content using
Dynamic Ad Insertion (DAI), enabling advertising campaigns to run
across multiple podcasts or genres, or be targeted to audience
groups, locations or key-words. Combined with our proprietary
inventory creation tool, AdRip, Showcase enables the continued
remonetisation of back-catalogue content, even if episodes were
first published more than ten years earlier. Showcase delivered
record revenue in May 2022, reaching US$1.2 million. Across 2022 we
are on track to make more than four billion impressions available
to advertisers within Showcase.
H1 2022
The success of Showcase has been one clear driver of Audioboom's
continued strong momentum in the first half of 2022. Our
year-to-date revenue growth of 79% is significantly higher than the
projected US full-year industry growth of 15% (PwC June 2022 Global
Entertainment and Media Outlook report), enabling us to grow market
share for the fifth straight year. Our strong performance in H1
2022 was also highlighted in May's Triton Digital Podcast Report,
in which Audioboom became the third biggest podcast publisher in
the US in terms of audience reach.
Another key factor in a successful H1 was the renewal of major
creator partnerships including Casefile True Crime, No Such Thing
As A Fish, Dark History, Murder Mystery Make-up, Mile Higher,
Lights Out, The Sesh and Strange & Unexplained. These podcasts
each deliver large audiences and high volumes of advertising
inventory. Key partnerships like these are now being renewed on
longer, three-year terms and will give Audioboom exclusive sales
and distribution rights.
Audioboom Studios, our creative and production arm, continued
its expansion during the period, including the first slate of shows
for UK audiences. Devils in the Dark, developed and produced by
Audioboom Studios, debuted in February 2022 and quickly hit number
one on the UK True Crime chart and made the top 15 of the overall
Apple Podcasts chart. The Criminal Makeup launched in May 2022 and
reached number 12 on the UK Apple Podcasts chart.
Financial Review
Group revenue in the first half of 2022 increased by 79% year on
year to US$40.9 million (H1 2021: US$22.8 million). Adjusted EBITDA
profit (earnings before interest, tax, depreciation, amortisation,
share based payments, non-foreign exchange movements and material
one off items) significantly improved to US$2.0 million (H1 2021:
US$0.2 million) with the Company recording positive adjusted EBITDA
in every month of H1 2022, as it did throughout 2021. The total
profit before tax for the period improved to US$0.6 million (H1
2021: US$0.5 million loss).
Gross margin reduced slightly to 20% (year to 31 December 2021:
22%). Audioboom has a mix of revenue streams, contributing
different gross margins. Premium advertising revenue, where the
host of the podcast delivers campaign messages for the brand and
endorses the product directly to their engaged audience, yielded a
21% gross margin in H1 2022. This reflects the concentration of
revenue in the top tier of podcasts where the revenue share is
split 80/20 in the podcasters' favour. Audioboom Studios
contributed a 31% gross margin in H1 2022, and the higher
associated gross margin means this will continue to be a key area
of focus going forward for the Company, as well as that revenue
generated via Showcase, which contributed a 29% gross margin in H1
2022. Sonic Influencer Marketing contributed a 10% gross margin in
H1 2022 and the continued growth of this part of the business has
also contributed to overall Group gross margin reducing
slightly.
Cost control continues to be of upmost importance, ensuring that
the resources of our lean and efficient company are aligned to our
operational demands. Headcount has increased to 47 (30 June 2021:
37) as we have recruited staff to support the significant growth
over the last 18 months, albeit that, at 47 heads, we remain
extremely lean versus our competitors.
Cash collection has continued to increase once again due to
overall revenue growth and, thanks to our efficient internal
processes and good relationships with our customers, we report a
debtor day figure of 68, 26 days lower than 31 December 2021 (94).
Operating cash inflow before working capital movements of US$1.9
million was significantly ahead of H1 2021 (H1 2021: US$0.2 million
cash inflow). Net cash generated from operating activities of
US$1.5 million was significantly better than H1 2021 (H1 2021:
US$1.8 million outflow). Cash held at 30 June 2022 of US$5.8
million increased by US$2.8 million from 31 December 2021 (US$3.0
million). This represents the largest cash balance reported by the
Company and is a testament to the internal processes that have been
built over the last four years.
On 14 April 2022, the Company secured a GBP1.5 million
multicurrency overdraft with HSBC, which was undrawn as at 30 June
2022, giving the Company access to capital of US$7.6 million,
represented by Group cash of US$5.8 million and the US$1.8 million
HSBC overdraft. During the period, both the US$4 million content
funding facility and US$4 million loan facility supplied by SPV
Investments Limited, the entity jointly owned by Michael Tobin, the
Company's Chairman, and Candy Ventures Sarl, the Company's second
largest shareholder, expired.
Outlook
Audioboom's positive outlook continues. We currently have
advertising bookings of more than US$68m for 2022 signed - more
than 13% greater than the entirety of last year's revenue.
Our new business pipeline is strong with significant
opportunities to create new partnerships with top podcasts in the
US and UK to expand our creator network, and in the second half of
the year we will be focused on renewing more of our valuable
creator partnerships in order to deliver new premium advertising
inventory.
Audioboom Studios will premiere three new productions in H2 2022
as we continue our investment into original content creation. We
also expect to add new monetisation partnerships in Showcase as we
continue to optimise our automated ad product.
We do expect the advertising market to be further tested by the
economic downturn and we are seeing a softening in advertiser
demand for Q3 2022 as lower consumer spending impacts the
confidence of brands in the space. It is too early to report if
this will continue into Q4, however, podcasting as a medium showed
strong resilience to the downturn caused by the Covid-19 pandemic
in 2020 when compared to other ad-supported areas of the media.
Podcasting provides strong and measurable advertising performance,
and I expect this softening in demand to be set against a backdrop
of continued overall revenue growth for the industry. The podcast
industry and our business model are robust, we are well positioned
to continue our growth story, and we are confident in achieving our
goals for 2022.
I would like to thank the Audioboom team for their dedication as
we build the world's leading independent podcast business, and our
shareholders and investors for their continued support.
Stuart Last
Chief Executive Officer
Audioboom Group PLC
Consolidated Statement of Comprehensive Income
Unaudited Unaudited Audited
six months six months 12
to 30 June to 30 June months
2022 2021 to 31 Dec
2021
Notes US$'000 US$'000 US$'000
Continuing operations
Revenue 2 40,910 22,783 60,317
Cost of sales (32,650) (17,916) (47,066)
------------ ------------ -----------
Gross profit 8,260 4,867 13,251
Administrative expenses (7,631) (5,309) (11,452)
Adjusted operating profit 2,047 225 3,133
- Share based payments 9 (2,290) (487) (1,174)
- Depreciation (24) (30) (55)
- Depreciation - leases (125) (114) (252)
- Operating foreign exchange
gain / (loss) 1,021 (22) 163
- Restructuring costs - (14) (16)
Operating profit 629 (442) 1,799
Finance costs 3 (63) (16) (87)
------------ ------------ -----------
Profit / (loss) before
tax 566 (458) 1,712
Taxation on continuing operations - - 5,275
------------ ------------ -----------
Profit / (loss) for the
financial period 566 (458) 6,987
Other comprehensive income
Foreign currency reserves
translation difference (1,541) 10 6
------------ ------------ -----------
Total comprehensive (loss)
/ profit for the period (975) (448) 6,993
============ ============ ===========
Profit / (loss) per share
from continuing operations
Diluted EPS 4 3 cents (3) cents 40 cents
Basic EPS 4 4 cents (3) cents 45 cents
Audioboom Group PLC
Consolidated Statement of Financial Position
Unaudited Unaudited Audited
as at 30 as at 30 as at
June 2022 June 2021 31 Dec
2021
Notes US$'000 US$'000 US$'000
ASSETS
Non-current assets
Property, plant and equipment 65 64 77
Right of use asset 452 715 576
Deferred tax asset 4,650 - 4,650
5,167 779 5,303
----------- ----------- ---------
Current assets
Trade and other receivables 6 18,960 12,381 18,147
Cash and cash equivalents 5,774 1,461 2,969
Deferred tax asset 625 - 625
25,359 13,842 21,741
----------- ----------- ---------
TOTAL ASSETS 30,526 14,621 27,044
----------- ----------- ---------
Current liabilities
Trade and other payables 7 (12,598) (8,030) (12,167)
Lease liability 7 (274) - (269)
NET CURRENT ASSETS 12,487 5,812 9,305
----------- ----------- ---------
Non-current liabilities
Lease liability 7 (220) (466) (358)
----------- ----------- ---------
NET ASSETS 17,434 6,125 14,250
=========== =========== =========
Equity
Share capital - - -
Share premium 5 62,880 60,873 61,011
Issue cost reserve (2,048) (2,048) (2,048)
Foreign exchange translation
reserve (1,811) (266) (270)
Reverse acquisition reserve (3,380) (3,380) (3,380)
Retained earnings (38,207) (49,054) (41,063)
TOTAL EQUITY 17,434 6,125 14,250
=========== =========== =========
Audioboom Group PLC
Consolidated Cash Flow Statement
Unaudited Unaudited Audited
six months six months 12 months
to 30 June to 30 June to 31 Dec
2022 2021 2021
US$'000 US$'000 US$'000
Profit / (loss) from operations 566 (458) 6,987
------------ ------------ -----------
Profit / (loss) for the
period 566 (458) 6,987
Adjustments for:
Deferred tax credit - - (5,275)
Interest payable 63 16 87
Depreciation of fixed assets 24 30 55
Share based payments 2,290 487 1,174
Operating foreign exchange
(gain) / loss (1,021) 133 (80)
------------ ------------ -----------
Cash generated from operating
activities before working
capital movements 1,922 208 2,948
Increase in trade and other
receivables (813) (4,353) (10,120)
Increase in trade and other
payables (excluding leases) 611 2,474 6,712
Decrease in lease liability (177) (173) (348)
Net cash generated from
/ (used in) operating activities 1,543 (1,844) (808)
------------ ------------ -----------
Investing activities
Purchase of property, plant
and equipment - (3) (43)
------------ ------------ -----------
Net cash used in investing activities - (3) (43)
------------ ------------ -----------
Financing activities
Proceeds from HSBC US payment
protection loan - - 374
HSBC overdraft fees (19) - -
Proceeds from issue of ordinary
share capital 1,869 51 189
------------ ------------ -----------
Net cash generated from
financing activities 1,850 51 563
------------ ------------ -----------
Net increase/(decrease) in cash
and cash equivalents 3,393 (1,796) (288)
------------ ------------ -----------
Cash and cash equivalents at beginning
of period 2,969 3,257 3,257
Effect of exchange rate changes (588) - -
on cash and cash equivalents
Cash and cash equivalents
at end of period 5,774 1,461 2,969
============ ============ ===========
Audioboom Group PLC
Consolidated Statement of Changes in Equity
Share premium Other reserves** Retained Total equity
earnings
US$'000 US$'000 US$'000 US$'000
-------------- ----------------- ---------- -------------
At 31 December 2020 60,822 (5,704) (49,224) 5,894
-------------- ----------------- ---------- -------------
Loss for the period - - (458) (458)
Issue of shares 51 - - 51
Equity-settled share-based
payments - - 628 628
Foreign exchange gain
on translation
of overseas subsidiaries - 10 - 10
At 30 June 2021 60,873 (5,694) (49,054) 6,125
-------------- ----------------- ---------- -------------
Profit for the period - - 7,445 7,445
Issue of shares 138 - - 138
Equity-settled share-based
payments - - 546 546
Foreign exchange loss
on translation
of overseas subsidiaries - (4) - (4)
At 31 December 2021 61,011 (5,698) (41,063) 14,250
-------------- ----------------- ---------- -------------
Profit for the period - - 566 566
Issue of shares 1,869 - - 1,869
Equity-settled share-based
payments - - 2,290 2,290
Foreign exchange loss
on translation
of overseas subsidiaries - (1,541) - (1,541)
At 30 June 2022 62,880 (7,239) (38,207) 17,434
-------------- ----------------- ---------- -------------
**Other reserves relate to the following reserves: Issue Cost
Reserve, Foreign Exchange Translation Reserve and the Reverse
Acquisition Reserve. Full details are disclosed in the 2021 Annual
Report.
Audioboom Group plc
Notes to the financial statements
1. General information and basis of preparation
Audioboom Group plc is incorporated in Jersey under the
Companies (Jersey) Law 1991. The Company's ordinary shares of no
par value are traded on AIM, a market operated by the London Stock
Exchange.
These consolidated interim financial statements, which are
unaudited, have been approved by the Board of Directors on 15 July
2022. They have been drawn up using the accounting policies and the
basis of presentation expected to be adopted in the Group's full
financial statements for the year ending 31 December 2022, which
are not expected to be significantly different to those set out in
note 1 to the Company's audited financial statements for the year
ending 31 December 2021.
The consolidated interim financial statements have been prepared
under the historical cost convention and in accordance with
International Financial Reporting Standards ("IFRS") and with IAS
34 "Interim financial reporting", as adopted by the UK.
The preparation of financial statements in accordance with IFRS
requires the use of estimates and assumptions that affect the
reported amounts of assets and liabilities, and disclosure of
contingent assets and liabilities as at the date of the financial
statements and the reported amounts of revenues and expenses during
the reporting period. Those estimates and assumptions are
consistent with those as reported in the Company's audited
financial statements for the year ending 31 December 2021.
Going concern
These interim financial statements have been prepared on the
going concern basis, which assumes that the Group will have
sufficient funds to continue in operational existence for at least
12 months from the date of approval of these interim financial
statements. The Group ended the period with access to US$5.8
million of cash, and a GBP1.5 million overdraft which was undrawn
as at 30 June 2022. The Board's forecasts for the Group, including
due consideration of the business forecasting continuing positive
EBITDA in 2022, projected increase in revenues and decreasing
cash-burn of the Group and taking account of reasonable possible
changes in trading performance including changes outside of
expected trading performance, indicate that the Group will have
sufficient cash available to continue in operational existence for
the next 12 months from the date of approval of these interim
financial statements and beyond. Based on the Board's forecasts,
the Group considers that it will not require additional funding for
the foreseeable future for the purposes of meeting its liabilities
as and when they fall due. The Board believes that the Group is
well placed to manage its business risks, and longer-term strategic
objectives, successfully.
Management has carried out sensitivity analyses of the Group's
cash flow models to assess the impact of a range of possible
outcomes, including lower than anticipated revenues, and the
mitigations that the Group has available to it, including a
reduction in overhead costs, active working capital management and
the availability of the HSBC overdraft. Accordingly, the Directors
are satisfied that the Group will continue to be able to meet its
ongoing liabilities as and when they fall due in reasonably
foreseeable circumstances.
Therefore, the Directors consider the going concern basis of
preparation of these interim financial statements appropriate.
2. Revenue
The Group's operations are principally located in the UK and the
USA. The Group's revenue from external customers by geographical
location is detailed below:
Unaudited Unaudited Audited
six months six months 12 months
to 30 June to 30 June to 31 Dec
2022 2021 2021
US$'000 US$'000 US$'000
United Kingdom and Rest of
the World 1,750 1,052 2,536
USA 39,160 21,731 57,781
------------ ------------ -----------
Total 40,910 22,783 60,317
============ ============ ===========
3. Finance costs
Unaudited Unaudited Audited
six months six months 12 months
to 30 June to 30 June to 31 Dec
2022 2021 2021
US$'000 US$'000 US$'000
Lease interest 44 16 87
Overdraft arrangement fee 19 - -
------------ ------------ -----------
Total 63 16 87
============ ============ ===========
4. Profit per share
Basic earnings per share (EPS) is calculated by dividing the
loss attributable to shareholders by the weighted average number of
ordinary shares in issue during the period.
IAS 33 requires presentation of diluted EPS when a company could
be called upon to issue shares that would decrease earnings per
share, or increase the loss per share. For a loss-making company
with outstanding share options, net loss per share would be
decreased by the exercise of share options. Therefore, for the six
months ended 30 June 2021, as per IAS 33:36, the anti-dilutive
potential ordinary shares are disregarded on the calculation of
diluted EPS.
Reconciliation of the loss and weighted average number of
ordinary shares used in the calculation are set out below:
30-June-22
Profit Weighted average Per share
number of shares amount
US$'000 Thousand Cents
Basic EPS
Profit attributable to
equity shareholders 567 15,928 4
Diluted EPS
Profit attributable to
equity shareholders 567 17,433 3
30-June-21
Loss Weighted average Per share
number of shares amount
US$'000 Thousand Cents
Basic and Diluted EPS
Loss attributable to shareholders: (458) 15,679 (3)
31-December-21
Profit Weighted average Per share
number of shares amount
US$'000 Thousand Cents
Basic EPS
Profit attributable to
equity shareholders 6,987 15,695 45
Diluted EPS
Profit attributable to
equity shareholders 6,987 17,353 40
5. Share capital
Issued and fully paid - ordinary shares of no par value
At 31 December 2021 15,768,017
At 30 June 2022 16,286,752
During the period 168,735 new ordinary shares were issued to
satisfy the exercise of existing share options under the Company's
Share Option Scheme 2014 by current employees. During the period,
350,000 new ordinary shares were issued to satisfy the exercise of
existing warrants.
The total number of instruments over equity (including both
share options and warrants) outstanding at the period end was
1,587,308.
6. Trade and other receivables
The trade and other receivables at the end of the period
included trade receivables (US$15.2 million) and accrued sales
income (US$1.6 million), and US$2.2 million relating to deposits
(US$0.2 million), prepaid expenses (US$0.4 million) and advance
talent payments (US$1.6 million).
7. Trade and other payables
The trade and other payables at the end of the period included
US$11.4 million relating to trade payables and accrued content
partner costs, other current liabilities (US$0.9 million) and an
HSBC US payroll protection loan (US$0.4 million) which is expected
to be forgiven and not repaid. The Company currently accrues all
costs based on contract terms. Payables relating to leases total
US$0.5 million - US$0.3 million due in under one year and US$0.2
million due in more than one year.
8. Related party transactions
During the period, there were no related party transactions. The
US$4 million loan facility and the US$4 million content funding
facility provided by SPV Investments Limited, the entity jointly
owned by Michael Tobin, the Company's Chairman, and Candy Ventures
Sarl, the Company's second largest shareholder, expired on 7
February 2022 and 19 June 2022 respectively.
9. Share based payments
During the period, 442,831 share options were issued to
qualifying current employees with an exercise price of
GBP15.55.
ENDS
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IR FDLFFLDLFBBF
(END) Dow Jones Newswires
July 18, 2022 02:00 ET (06:00 GMT)
Audioboom (LSE:BOOM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Audioboom (LSE:BOOM)
Historical Stock Chart
From Apr 2023 to Apr 2024