Grant of Share Options
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The Board ("Board") of Audioboom (AIM: BOOM), the leading global podcast company, announces that it has today granted the following options to subscribe for new ordinary shares in the Company ("Options") to certain of its directors:
| Director | Position | Options granted | Exercise price* | Total options now held** |
|---|---|---|---|---|
| Stuart Last | Chief Executive Officer | 60,000 | 240p | 355,334 |
| Brad Clarke | Chief Financial Officer | 60,000 | 240p | 313,334 |
*derived from the latest 5 day volume weighted average price (VWAP) for an ordinary share
**both directors have agreed with the Company to forfeit and cancel 60,000 options previously granted with an exercise price of £15.55 per share. In addition, both directors have forfeited 16,666 previously granted options following non-fulfilment of attached performance conditions (relating to meeting initial market expectations as to revenue and EBITDA for the year ended 31 December 2023)
The grants have been 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 (in respect of 50% of the Options) 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 2024, 31 December 2025 and 31 December 2026. They may also vest in certain other prescribed circumstances as provided for in the terms of the Scheme.
The Board has also granted 346,157 options to non-PDMR employees, largely in replacement of 271,157 options that were previously granted at an exercise price of £15.55 per share which have now been forfeited and cancelled.
Following the above grant of Options, the Company has a total of 1,706,118 options to subscribe for new ordinary shares in the Company outstanding, which represents approximately 10.4 per cent. of the Company's issued share capital.
The FCA notifications in respect of the above Option grants, made in accordance with the requirements of the UK Market Abuse Regulation, are appended below.
| a) | Name | Stuart Last |
| 2. | Reason for the Notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Audioboom Group plc |
| b) | LEI | 213800QO681575J97813 |
| a) | Description of the Financial instrument, type of instrument | Options to subscribe for Ordinary Shares of no par value |
| Identification code | ISIN: JE00BJYJFG60 | |
| b) | Nature of the transaction | Grant of options to subscribe for Ordinary Shares of no par value |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Exercise price of £2.40 per share 60,000 |
| d) | Aggregated information: ·Aggregated volume ·Price | N/A |
| e) | Date of the transaction | 30 April 2024 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Brad Clarke |
| 2. | Reason for the Notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Audioboom Group plc |
| b) | LEI | 213800QO681575J97813 |
| a) | Description of the Financial instrument, type of instrument | Options to subscribe for Ordinary Shares of no par value |
| Identification code | ISIN: JE00BJYJFG60 | |
| b) | Nature of the transaction | Grant of options to subscribe for Ordinary Shares of no par value |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Exercise price of £2.40 per share 60,000 |
| d) | Aggregated information: ·Aggregated volume ·Price | N/A |
| e) | Date of the transaction | 30 April 2024 |
| f) | Place of the transaction | Outside a trading venue |
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