Audioboom Share Discussion Threads

[wooty01] 20/2/2020 14:55

You banged on for months about a share raise. That was a huge error. I hope no one was believing you and your misleading posts. So you start again. Your track record has been proven to be totally discredited.

[jasperthemonkeygod] 20/2/2020 14:43

'Share raise funding. Didn't happen did it.'

no it didn't, they got a loan agreement instead, and are paying Raine to do a strategic review of the business

so, with these NDA's -

any approach made, if any, will be confidential; no-one apart from the parties involved will know anything about it

essentially, any talk on here about bids, is just that - all talk

[wooty01] 20/2/2020 14:36

You guys failed in your scaremongering :- Share raise funding. Didn't happen did it. Now the company's taken a thoroughly professional review of what's happening in the industry and best option to achieve shareholder value. The outcome is a Sale Process. The pity is some of the process is in public and attracts the same failed scaremongers. Carry on, your not going to stop many investors here making a significant return.

[jasperthemonkeygod] 20/2/2020 13:41

the ironic thing is any approach will now have a NDA attached

so again, I'm interested where this idea of 'selling for ten quid' is coming from exactly?

[jasperthemonkeygod] 20/2/2020 13:34

confirmed sale where?

[richyrich8] 20/2/2020 12:32

You are off your head Jasper. It was only a few weeks ago we were all apparently just ramping about the sale. Now that's all confirmed you are lining up once again to make yourself look a muppet.

[wooty01] 20/2/2020 12:24

Silly sarcastic monkey.

[jasperthemonkeygod] 20/2/2020 12:02

can you point me to the RNS where it states that BOOM is being sold for ten quid?

All I can find are the ones where it says they've appointed Raine to carry out a strategic review

[pmtomkinson] 20/2/2020 12:01

Inter alia understand you're climbing the wrong tree - Jasper.

[wooty01] 20/2/2020 11:57

Not an informative post Jasper. Better option is to go to the RNS release itself. If you don't know where bids will come from then you really shouldn't be cluttering this board.

[jasperthemonkeygod] 20/2/2020 11:48

btw 'inter alia' means 'amongst other things'

hope that helps

[jasperthemonkeygod] 20/2/2020 11:40

what bids, exactly?

no mention of bids in here - aren't you all getting a bit carried away?

Review of strategic options - formal sale process under the Code

In its announcement of 10 February 2020, the board of Audioboom (the "Board") confirmed that the Company had retained Raine Advisors Limited ("Raine") as its financial adviser in relation to examining strategic options for the Company, in order to deliver maximum value for its shareholders (the "Strategic Review"). The announcement of 10 February 2020 noted that Raine will provide advice and assistance to the Company in relation to a range of corporate options including, inter alia, strategic partnerships, financial investment, business combinations and potentially the sale of the Company.

Formal sale process

Audioboom has agreed with The Panel on Takeovers and Mergers (the "Takeover Panel") that, as part of the Strategic Review process, any discussions in relation to an offer for the Company may take place within the context of a formal sale process (as referred to in the Code) in order to enable conversations with parties interested in making such an offer proposal to take place on a confidential basis. Accordingly, the Takeover Panel has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the Code such that any interested party participating in the formal sale process will not be required to be publicly identified as a result of this announcement and will not be subject to the 28 day deadline referred to in Rule 2.6(a), for so long as it is participating in the formal sale process.

Parties with a potential interest in making a proposal under the formal sale process should contact Raine (via the contact details as set out below). Any interested party will be required to enter into a non-disclosure agreement with the Company before being permitted to participate in the process. Following execution of such agreement, it is currently expected that interested parties will then be provided with certain information on Audioboom's business to enable them to submit an indicative proposal to Raine.

The Board currently expects for the Strategic Review process (including the formal sale process) to conclude during the third quarter of 2020.

The Company confirms that while it or its advisers have received initial enquiries from certain parties, it is not in discussions with any potential offeror at this time.

[jasperthemonkeygod] 20/2/2020 11:07

Final sale to whom, exactly?

[wooty01] 20/2/2020 10:46

We are pretty much agreed that the company has reached the final Sale Process. What there is some debate about is the value and timing. They are probably interlinked. There are definitely multiple interested parties. More than expected. This could lengthen the bidding process. Still maintain that we will have concrete news mid March. Expecting between £7 and £10.

[wooty01] 20/2/2020 10:27

Thx Deano.

[deanoblues] 20/2/2020 09:42

Audioboom already massive in India...can only strengthen our position on negotiating a deal...£10 must be the starting figure https://twitter.com/audioboom/status/1230356428650680320?s=21

[mrbear2] 20/2/2020 08:28

Some sensible posts on here now since the recent RNS, the doom-mongers seem to have moved elsewhere. A couple of points firstly it says that 'The Board currently expects for the Strategic Review process (including the formal sale process) to conclude during the third quarter of 2020'. The emphasis here is the phrase 'including the formal sale process' and 'conclude'. I would, therefore, anticipate hearing confirmation or otherwise' of an agreement early summer for it to conclude by the third quarter. The emphasis does appear to be on 'sale' rather than the other options mentioned earlier in the RNS. The non-disclosure policy from potential bidders will hopefully ensure some bidding war although I'm sure that most people will have a good idea on who is (hopefully) bidding. So we are playing a waiting game again but hopefully this time leading to a satisfactory conclusion for all shareholders.

[dirty75] 19/2/2020 20:43

look at some of the USA listed podcast Co's, and see their SP's and turnover and compare.

[poebardem] 19/2/2020 18:41

I expect we'll know soon. All things considered, can't picture less than £10 in this market.

[poebardem] 19/2/2020 18:31

Agree Wooty01, standard requirements as expected. The path is in view.
Raine appointed and announced. Standard procedures for sales process follow. 1%+ shareholders disclosing daily, etc. RNS 19/02/20 BOOM - Review of Strategic Options – “Formal Sale Process” - Standard and required wording.
There are over 10 obvious potential buyers, Raine knows the game.

[wooty01] 19/2/2020 17:06

I wouldn't be swayed by the Q3 date.

[wooty01] 19/2/2020 16:59

RNS was just what was needed. It shows the process has moved to the next stage. It's now confirmed as a Sale Process. It's a good sign that names will not be disclosed as it's imperative to keep everything confidential. Bids will be received and analysed by Raine. For anyone who knows how this process works the RNS was standard language required by the Takeover Code.

[poebardem] 19/2/2020 16:30

Quick sell = low sell. RNS is part of the process. A few interested parties. So may take time. £10 looks good.

[ken chung] 19/2/2020 13:05

"The Company confirms that while it or its advisers have received initial enquiries from certain parties, it is not in discussions with any potential offeror at this time."

LOL.

Lemmings and mushrooms only!