10th Sep 2021 18:02
Audioboom Group PLC - Jersey-based podcasting company - Says it has not received a firm offer from Active Asset Capital Ltd and was unaware of any substantial initiatives being pursued by the investment fund regarding the acquisition. AAA had previously said it was exploring initiatives in relation to a takeover which Audioboom had expected to be in position at the close of play on Friday. AAA had up to Monday next week to make an offer or walk away. However, AAA has now asked for an extension to September 30, pointing to "logistical reasons" for the delay.
"The board of AAA remains committed to seeking a recommended proposal which addresses the concerns of the Independent Directors of Audioboom as to the value and liquidity of AAA's equity post any acquisition. There can be no certainty that any offer will be made," AAA says.
Current stock price: 860.00p
Year-to-date change: more than three times higher
By Arvind Bhunjun; [email protected]
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