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23 Dec 2019 13:03
23 December 2019
Mobile Streams plc
("MOS" or "the Company")
Audit update
The Company wishes to provide an update on the progress of the audit and the expected date of audited results for the year to 30 June 2019.
Following the Board changes announced on 26 November, the Board is undertaking a thorough review of all aspects of the Company, and in conjunction with our new auditor PKF Littlejohn is working to prepare the audited results for the year to 30 June 2019.
Unfortunately, due to lack of preparation by previous management prior to the General Meeting on 26 November, this process is taking longer than anticipated and therefore the audited results for the year to 30 June 2019 ("Results") will not be published by 31 December 2019 as required by AIM Rule 19.
If therefore the Results are not published by then, the shares will be suspended from trading on AIM until publication of the results, which is expected to be in the second half of January 2020.
Nigel Burton, Chairman, commented "The Board is disappointed not to be able to publish the results in a timely manner, and although the accounts are not yet complete, for the avoidance of doubt no issues have arisen during the review of the Company or the preparation of the accounts which would raise any concerns about the financial status of the business as a going concern. Our CFO is working diligently with the Board and auditors to ensure that the accounts are completed and published as soon as possible in the New Year."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information, please contact:
Mobile Streams plc
Nigel Burton, Chairman +44 77 8523 4447
www.mobilestreams.com
Beaumont Cornish (Nominated Adviser)
James Biddle and Roland Cornish
Tel: +44 (0) 20 7628 3396
Peterhouse Capital Limited (Broker)
Eran Zucker +44 (0) 20 7469 0930
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