Last checked at 6 May 2020 14:52
6 May 2020
Mobile Streams plc
("MOS" or "the Company")
Over-subscribed placing of £1 million gross at 0.3p per share
Total Voting Rights
Mobile Streams plc, the AIM quoted mobile content and data intelligence company, is pleased to announce the successful completion of a placing (the "Placing"), arranged by the Company's Broker Peterhouse Capital, to raise £1,000,000 before expenses to support the continuing growth of the Group.
A total of 333,333,333 ordinary shares of 0.01p nominal value each ("Placing Shares") have been placed conditional only on Admission with investors at 0.3p per share, a discount of approximately 25% to the closing mid‐market price of 0.4p on 5 May 2020. Each Placing share which will rank pari passu with existing Ordinary Shares will be issued with one warrant per share exercisable at 0.5p per share for a period of one year from the date of admission of these new shares to AIM, which is expected to be on or around 14 May 2020.
Total Voting Rights
Following the issue of the Placing shares as described above, the Company's issued share capital consists of 1,005,074,804 ordinary shares with a nominal value of 0.01p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.
The above figure of 1,005,074,804 may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Nigel Burton, Chairman, commented "The new Board is firmly focused on supporting the existing mobile content business whilst expanding the Company's new Streams data insight and intelligence platform.
"Since the launch of the Streams platform, delivered via our partnership with KrunchData, the Company has announced commercial agreements with both the National Emergencies Trust ("NET") and digital agency Alcimi, and has launched a new website which combines our offering to both content providers and brands.
"To provide strong alignment with shareholders and to conserve cash, the Board and Senior Managers are all being remunerated in shares which will not be issued until 2021. As a result, our existing cash balances of over £0.25m along with the net proceeds of the Placing provide sufficient funds to cover all overheads throughout 2020 as well as to support the expansion of the product, marketing and sales pipeline for both the content and data businesses.
"This Placing provides the necessary additional balance sheet strength to give potential clients confidence in the longer term future of the Company, thereby enabling the Company to work with larger B2B (business to business) clients in the US, LatAm and Europe. It also provides additional capital to speed up and advance our sales, marketing and development efforts as and when we need to."
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
+44 (0) 20 7628 3396
Peterhouse Capital Limited (Broker)
Lucy Williams, Duncan Vasey and Eran Zucker
+44 (0) 20 7469 0930