LONDON (Alliance News) - Mobile Streams PLC said Friday that Chief Executive Officer Simon Buckingham sold 6.0 million shares, or 16.38% of the total, at 55 pence per share on Thursday.
Mobile Streams said Buckingham's GBP3.3 million sale was to satisfy institutional investor demand for it shares. Following the sale, Buckingham holds 10.4 million shares, 28.34% of the company
The mobile-content-technology company said Buckingham now has entered a lock-in agreement whereby he will not sell any more shares for one year, until October 16, 2014, nor sell any shares except through the company's broker N+1 Singer for a year thereafter.
In early trading Friday, Mobile Streams shares were quoted at 64.00 pence, down 0.50p.
By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite
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Mobile Streams (MOS)