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.
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 £2.075 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:
13 Sinclair Road Limited
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.
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.
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.
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