Statement re press speculation & Strategic Review

The Board of Audioboom (LSE: BOOM) notes the recent press speculation about the Company and confirms that it has appointed J Goodwin & Co LLP to manage a strategic review process (the "Strategic Review") which involves the consideration of, amongst other strategic options, the potential sale of the Company. The Board confirms that it has not received any proposal for the sale of the Company and, in particular, has not received an approach within the meaning of the City Code on Takeovers and Mergers (the "Code").

The Board further confirms that it is in discussions with certain strategic partners and trade peers regarding potential commercial or strategic partnerships as part of the Strategic Review.

Shareholders are urged to take no action at this time.

As noted above, as part of the Strategic Review the Board is considering a variety of strategic options, including: entering into joint ventures or other forms of commercial partnerships; making further acquisitions; selling or demerging a part of the Company's group's business; returning capital to shareholders; changing the Company's strategy and/or management arrangements; selling the Company's subsidiaries; and/or selling the entire issued share capital of the Company under a Code-governed transaction.

Further announcements will be made in respect of the Strategic Review as and when appropriate.

As a consequence of this announcement, an "offer period" has now commenced in respect of Audioboom in accordance with the Code and the attention of shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarized below.

Rule 2.9 disclosure

Website publication

MAR