Audioboom Share Discussion Threads

[wooty01] 31/3/2020 09:59

Thx Poebardem. Unfortunately he's not literate. RPB has been honest and as accurate as possible in these uncertain times. We all thought end March would be the likely date for definitive news. Now it's going to be mid April. The RNS was one of the most clear I've seen in such takeover circumstances. Words are normally couched in more moderate terms. As you highlight in your excerpt from the RNS - the sale process is likely to be completed. Pretty clear to me

[poebardem] 31/3/2020 09:34

He's trying to say RRB isn't right, but is clutching at straws based on the timeline. Covid-19 has affected everything, it's not BOOM specific, yet there has been news by the "end of March", "by April" as RRB highlighted.

If he read the RNS yesterday (and specifically) he would see the Chariman's comment

"A number of interested parties are actively engaged in the process, but it is possible that Covid-19 could impact the planned timeline".

Would he say this in a public RNS if the process wasn't quite far along and there wasn't serious interest? Methinks not.

[wooty01] 31/3/2020 08:40

I get the nasty cough sorted out as well. Sounds contagious.

[wooty01] 31/3/2020 08:40

Chimp boy , I hope they never let you out of the zoo. What on earth are you trying to say. We know you've been caught out lying on facts. You just talk gibberish

[rachelrileysbra] 30/3/2020 11:00

There will be movement in podcast habits too (short term).
From 'commuting podcasts' to 'quarantine podcasts' and also newbie listeners who will be finding their likes.

As per Wooty - My 'suspicion' is also they are deep in conversation (albeit remote) regarding details and the 'price' has been agreed already. If Directors buy then that implies they are not as far on as implied.


Any purchases under 2p are a steal imho.

[wooty01] 30/3/2020 10:04

The majority of multinationals are maintaining their strategic focus. They are making budgets for 2021 so to keep business growth and momentum the prospect of acquisitions are very much being considered. Most stuff will be done by lawyers and accounts remotely. The aspect of negotiation is more tricky without face to face contact during the discovery stage. In other words data room. However as the sale process is under strict Take Over Panel Rules final bids are put in writing to Raine who will present these to the board for consideration.The favoured bid is then put to the shareholders. However during this time a buyer could enter the open market and make a public bid. You don't have to sit around the negotiating table playing poker. Those days have long gone.

[sir_dominic] 30/3/2020 09:35

hottingup: 245p and 250p purchases are no indication. They were relatively small purchases comparing to their existing holdings. You need to look at the money they've spent before to work out what is the satisfying level for them. The only scenario where they would agree lower price would be if Mr Candy and Tobin would need cash urgently. I think at the moment situation is steady enough so they can afford to be patient. Covid may have impact on the enthusiasm of potential buyers but you are probably looking conservatively at £5-£7.50 price if we go ahead with the process.

[mdchand] 30/3/2020 08:39

Agree. Trajectory of revenue, coupled with a very favourable podcast environment make it a very attractive purchase - which is clearly the LT play here.

[wooty01] 30/3/2020 08:33

Great set of results for 2019 confirmed by the audit. Revenue up over 90%. Outstanding. The loan facility hasn't been touched. Most importantly the confirmation that the strategic review by Raine subsequently established a formal sale process under the Takeover Panel Rules. There are a number of interested parties ACTIVELY engaged in the process and currently buyer interest suggests the process will stay the course. Couldn't be clearer.

[hottingup] 30/3/2020 08:09

Tobin, Maddock and Candy all made share purchases at 250p last year (as adjusted for the consolidation) and Candy was still buying at 245p in February 2020, so reasonable to assume a takeover price would be somewhere above that level.

[deanoblues] 30/3/2020 07:51

https://twitter.com/bdaily/status/1244516746461097985?s=21

[pmtomkinson] 27/3/2020 20:21

As an appetiser!

[tewkesbury] 27/3/2020 14:07

Wouldn't mind seeing that 380p Zak Mir was suggesting last month as a near term price for BOOM.

[rachelrileysbra] 27/3/2020 10:08

deano - Grapevine is getting a bit lively ...

[deanoblues] 27/3/2020 09:55

I would hold fire on that 7.50 ;-) things are about to get interesting

[deanoblues] 27/3/2020 09:53

https://tech.economictimes.indiatimes.com/news/internet/podcasts-find-their-voice-during-covid-19-pandemic/74836167

[tewkesbury] 27/3/2020 09:13

According to the BBC's US program yesterday evening, the use of online streaming services has rocketed since Covid 19 with everyone being at home.

Also Zak Mir (12/2/20) suggests BOOM are heading for 380p:

[wooty01] 26/3/2020 21:00

There will be a good price realised. Probably not the stellar value which it could have achieved but factor in-Candy will not approve unless it's around £6 minimum-Raine knows how to get best deal. It has a proven track record. -It's been muted that Raine doesn't get a commission until a fairly high price. Someone mentioned £4? -It just takes two big players to get interested and the price will be well north of £6. That's $110m value. The smaller parties won't be able to match much more. With 2020 revs forecast at $35m it's possible a value of 4x = $140m or £7.50 a share.

[rachelrileysbra] 26/3/2020 11:37

Wooty - at least two parties that I am aware of.
A bit of muscle flexing no doubt

[wooty01] 26/3/2020 11:13

This is business and an acquirer would try to get as cheaply as possible but given there are many interested parties this should ensure some good offers. The question is how to value. Will the current share price have an influence. Possibly. But given that every single acquisition so far has been a private company I would say the matrix has already been established. Based on revenue, quality of contracts, profile of podcasters. Specific to Boom is its extensive library already on Spotify and Apple. Also it's advertising platform. The public quotation makes an acquisition more complex as there are a multitude of small shareholders and all these shares have to be bought. The important thing is that all shareholders will be offered the same price on the same terms.

[webhop] 26/3/2020 11:01

Looks good, hopefully balances out as the crisis settles down. Don't really think any of us should be speculating on a sale price right now as it will only feed the naysayers.Also, I wouldn't think anyone involved in the sale would know the true sale value right now, due to the crash. I'd think any buyer would try and take advantage of the current market.

[pmtomkinson] 26/3/2020 10:50

Good exchange rate as well.

[deanoblues] 26/3/2020 09:53

Data room figures must look fantastic on this lockdown situation...10 dollar sale

[pmtomkinson] 26/3/2020 09:30

Skies are clear and blue for Boom !