(Alliance News) - Shares in Mobile Streams PLC slipped Thursday as the firm said it will not meet a deadline to appoint a new nominated advisor.
The mobile content distributor was 12% lower in morning trade at 0.20 pence a share.
In late September, nomad and broker N+1 Singer Advisory LLP resigned. This gave Mobile Streams one month before its shares would be suspended from trading to hire a new nomad.
The firm on Thursday confirmed it will not meeting the deadline, on Monday next week, and as such, shares will be suspended.
It then has another month to find a new nomad or it will be kicked off the London Stock Exchange.
Chief Executive Simon Buckingham said: "Our shareholders expressed their wish for us to remain an AIM-listed company and we have been working diligently to appoint new advisors to achieve this.
"We will continue to extend every effort to complete these appointments before November 29."
By George Collard; georgecollard@alliancenews.com
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Mobile Streams (MOS)