RE: Price30 Apr 2020 14:32
30 April 2020
Mobile Streams plc
("MOS" or "the Company")
Results of Annual General Meeting
AGM Statement
Approval of Conditional Placing of GBP146,250 gross
Total Voting Rights
Results of Annual General Meeting
The Company is pleased to announce that, with the exception of the resolution to reappoint Peter Tomlinson as a director, which was withdrawn due to his resignation from the Board on 22 April 2020, all resolutions were passed.
AGM Statement
The Company is pleased to provide an update on trading and current developments.
Content business
The legacy mobile content business, which generates revenues through relationships with mobile operators and content aggregators and retailing directly to the consumer, continues to perform in line with expectations. Group revenue for the first three months of 2020 was GBP100,000 (2019: GBP190,000). EBITDA for this period (calculated as profit before tax, interest, amortisation, depreciation, share compensation expense and impairment of assets) showed a loss of GBP131,000 (2019: loss of GBP479,000) following a focus on cost cutting within the Group. The revenue in Argentina and Mexico remained stable for the first three months of 2020, although the Argentinian peso was devalued by 1.8% during the period., The underlying operations of the existing mobile content business (ie excluding plc costs, some initial costs in establishing the Streams platform and other one-off costs) are running at close to break-even, despite reduced revenues compared with the prior year.
The Group's cash balance is currently GBP97,000, including the net proceeds of the GBP75,000 Placing announced on 30 March and a net tax credit of GBP50,000 received by the Argentine business in March.
Data business
The Streams platform delivered via our partnership with KrunchData continues to develop well and, as announced on 14 April, signed its first commercial agreement with the National Emergencies Trust ("NET"). Regarding our, We are delighted to announce that feedback on the platform from the National Emergencies Trust, which is using Streams for its work on the Covid-19 pandemic, is extremely positive and has already led to us signing an additional agreement with the digital agency Alcimi to deliver media insight and intelligence services. The work with Alcimi has already begun and we are extremely proud of the results as mentioned below:
John Herriman, CEO, National Emergencies Trust, said:
"In emergency situations being able to respond quickly and collaborate is vital. Data is therefore critical to success. Streams has been our essential intelligence platform to support our vital work at NET to fight Covid-19. It has helped transform our ability to visualise, understand and drive effective decision using big data. The deep intelligence, automated insights and the visualisation in particular have been crucial in helping us not only in our own internal discussions but also with external s
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