Conclusion of the Strategic Review
Audioboom Group (AIM: BOOM) announced that it had appointed J Goodwin & Co and Rockefeller Capital as Joint Financial Advisers (the “Advisers”) to carry out a strategic review (the “Strategic Review”) which would involve the consideration of, amongst other options, a sale of the Company. As a consequence, the Company has been in an offer period (as defined in the City Code on Takeovers and Mergers (the “Takeover Code”)) since 3 October 2025.
The objective of the Strategic Review was to maximise shareholder value and accelerate the Company’s growth, capitalising on its position as one of the UK and US’s leading podcast publishers.
Since February 2026, three interested parties who had been conducting due diligence have submitted non-binding indicative proposals to make a cash offer for the Company. Following the Company’s announcement of record trading results for the quarter ended 31 March 2026 on 16 April 2026, the Board now consider that the level of indicative offers received from these parties undervalue the Company and its prospects, given the accelerating performance of the Company during the current financial year.
The Board has made this assessment notwithstanding the fact that all of the indicative offers were all at a premium to the closing price of 540 pence per share on 2 October 2025 (being the last day of trading immediately prior to the Company entering into an Offer Period).
Accordingly the Company has, as at the date of this announcement, now terminated discussions with all of the interested parties.
As the Strategic Review has now concluded, the Company is no longer in an Offer Period as defined by the Takeover Code and the disclosure requirements pursuant to Rule 8 of the Takeover Code are no longer applicable from the time of this announcement. The Company is not currently in receipt of any approaches or in discussions with any party in relation to a sale of the Company.
Trading Update – Outlook for the Half Year to 30 June 2026
On 16 April 2026, the Company announced its Q1 Trading Update for the three month period to 31 March 2026.
The Board is pleased to report that the strong start to 2026 shown in the Q1 Trading Update has continued into Q2 and that Audioboom expects to announce record results for the six month period to 30 June, with revenue increasing to a minimum of US$45.0 million (H1 2025: US$35.1m) and adjusted EBITDA profit increasing to a minimum of US$3.0 million (H1 2025: US$1.8m).
The Company will provide a more comprehensive update on trading when it announces its results for the six months to 30 June 2026, which it expects to do on or around 16 July 2026.
The person responsible for arranging for the release of this announcement on behalf of the Company is Brad Clarke, the Company’s CFO.
Enquiries:
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Audioboom Group PLC |
via Montfort, below |
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Stuart Last, Chief Executive Officer Brad Clarke, Chief Financial Officer |
