February 13, 2018 / 7:16 AM / 2 months ago

BRIEF-Audioboom Looks To Buy Triton Digital Canada Inc For $185 Mln​

Feb 13 (Reuters) - AUDIOBOOM GROUP PLC:

* INTENTION TO ACQUIRE TRITON DIGITAL CANADA INC, PARENT COMPANY OF TRITON DIGITAL INC, FOR A CASH CONSIDERATION OF $185 MILLION​

* PROPOSING TO RAISE ABOUT £155 MILLION, BEFORE EXPENSES, THROUGH A PROPOSED PLACING OF NEW ORDINARY SHARES​

* ‍CENKOS SECURITIES, ZEUS CAPITAL HAVE BEEN APPOINTED TO ACT ALONGSIDE ALLENBY CAPITAL AS JOINT BROKERS TO PROPOSED PLACING​

* ALONG WITH ADMISSION OF ENLARGED SHARE CAPITAL TO TRADING, CO INTENDS TO CONSOLIDATE ITS SHARES, CHANGE NAME TO TRITON DIGITAL GROUP​

* ‍COMPANY’S ORDINARY SHARES WILL BE SUSPENDED FROM TRADING ON AIM WITH EFFECT FROM 7:30 A.M. ON TUESDAY​

* ‍UPON ADMISSION, PROPOSED THAT TRITON CEO NEAL SCHORE AND TRITON CFO MARK ROSENBAUM TO JOIN BOARD AS CEO AND CFO RESPECTIVELY

* ‍DURING FIRST TWO MONTHS OF Q1 CO’S REVENUES AND TRADING PERFORMANCE HAVE BEEN “AHEAD OF MANAGEMENT’S EXPECTATIONS”​

* PROPOSES TO MOVE TO REPORTING IN US DOLLARS GOING FORWARD​ Source text for Eikon: Further company coverage:

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