Trading Update and Conclusion of Strategic Review
Audioboom Group PLC has concluded its strategic review, which considered a potential sale of the company, and has terminated discussions with interested parties as their indicative offers were deemed to undervalue the company's prospects. The company expects to announce record results for the six months ending June 30, 2026, with revenue projected to reach at least US$45.0 million, an increase from US$35.1 million in the prior year, and adjusted EBITDA profit expected to be at least US$3.0 million, up from US$1.8 million.
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UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN FOR THE PURPOSES OF MAR
Audioboom Group PLC
Trading Update and Conclusion of Strategic Review
Conclusion of the Strategic Review
On 3 October 2025, Audioboom Group PLC ("Audioboom or the "Company") 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.
Rockefeller Capital Management is the marketing name of Rockefeller Capital Management L.P. and its affiliates. Rockefeller Financial LLC (RFLLC) is a broker-dealer and investment adviser dually registered with the U.S. Securities and Exchange Commission (SEC); Member Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC). These registrations and memberships in no way imply that the SEC has endorsed the entities, products or services discussed herein. Additional information is available upon request
RFLLC does not actively market its products or services to clients or potential clients in the United Kingdom (UK) or European Union (EU).
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.