StockMarketWire.com - Audioboom has completed completion the acquisition of SONR News Limited announced on 25 January.

Audioboom said its offer to purchase the entire issued share capital of SONR had been accepted by holders of 93.4% of the issued shares of SONR and, as such, all conditions of the acquisition had been satisfied and completion had occurred.

Accordingly, 53,165,598 consideration shares will be allotted and issued to those holders who have accepted the offer, and these shares will be admitted to trading on AIM on 6 February.

Audioboom intends to proceed to exercise the squeeze-out rights available to it under section 979 of the Companies Act 2006 to acquire, on a compulsory basis, the remaining balance of the issued share capital of SONR, the consideration for which will be the remaining 3,772,618 consideration shares.




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