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LONDON - Audioboom Group PLC (LSE:BOOM) announced Friday it has appointed J Goodwin & Co LLP to manage a strategic review process that includes exploring a potential sale of the company.
The podcast company confirmed in a statement that it has not received any proposal for a sale, nor has it received an approach within the meaning of the City Code on Takeovers and Mergers.
Audioboom stated it is currently in discussions with "certain strategic partners and trade peers regarding potential commercial or strategic partnerships" as part of the review process.
The strategic review is considering various options beyond a potential sale, including joint ventures, commercial partnerships, acquisitions, selling or demerging part of the group's business, returning capital to shareholders, changing strategy or management arrangements, and selling company subsidiaries.
The announcement follows recent press speculation about the company's future. Audioboom urged shareholders to take no action at this time.
As a result of this announcement, an "offer period" has commenced in respect of Audioboom in accordance with the Code, which brings certain disclosure requirements for shareholders.
The company said further announcements regarding the strategic review will be made "as and when appropriate." The statement was authorized for release by Brad Clarke on behalf of the company.
The information is based on a regulatory news statement released by Audioboom.
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