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Results of Annual General Meeting

30 Apr 2020 10:30

RNS Number : 4834L
Mobile Streams plc
30 April 2020
 

30 April 2020

 

Mobile Streams plc

("MOS" or "the Company")

 

Results of Annual General Meeting

AGM Statement

Approval of Conditional Placing of £146,250 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is pleased to announce that, with the exception of the resolution to reappoint Peter Tomlinson as a director, which was withdrawn due to his resignation from the Board on 22 April 2020, all resolutions were passed.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 £100,000 (2019: £190,000). EBITDA for this period (calculated as profit before tax, interest, amortisation, depreciation, share compensation expense and impairment of assets) showed a loss of £131,000 (2019: loss of £479,000) 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 £97,000, including the net proceeds of the £75,000 Placing announced on 30 March and a net tax credit of £50,000 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 stakeholders including government departments."

 

Ben Sefton, MD, Alcimi, said:

"As the National Emergencies Trust's Digital partner we are responsible for driving their Coronavirus Appeal on social media. We were given the huge challenge by the NET board to drive the appeal organically without any paid advertising. We engaged with Streams shortly after the appeal launched in November 2019 and they rose to the challenge. We have been using the Streams dashboard on a daily basis, and over the six weeks of the appeal have increased our follower base by 432% and we have reached over 9,462,730 people. Without the Streams platform, we would not have achieved this."

 

Nigel Burton, Chairman, said:

"It is a tremendous privilege for us to be helping deliver the UK's response to the Covid-19 pandemic through our work with the National Emergencies Trust and Alcimi. We are delighted that the Streams platform is working so well and we look forward to developing the product and sales pipeline further."

 

Completion of Conditional Placing of £146,250 gross

The approval of the resolutions enables the Conditional Placing, announced on 30 March, to be completed. As a result, 182,812,500 ordinary shares have been issued and will be admitted to trading on AIM on 1 May 2020.

 

Total Voting Rights

As at the date of this announcement, following the issue of the Firm Placing shares, the Company's issued share capital consists of 671,741,471 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.

 

Therefore the total number of Ordinary Shares in the Company with voting rights is 671,741,471 and this figure 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.

 

 

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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
RAGKKKBBCBKKAQN
Date   Source Headline
24th Oct 20197:00 amRNSNomad Resignation Update
18th Oct 20193:29 pmRNSHolding(s) in Company
17th Oct 20197:00 amRNSDirector Resignation
30th Sep 201910:59 amRNSResult of General Meeting and Trading Update
30th Sep 20197:00 amRNSHolding(s) in Company
27th Sep 20191:09 pmRNSResignation of Nominated Adviser and Broker
25th Sep 20192:30 pmRNSWithdrawal of Requisition for a General Meeting
24th Sep 20197:00 amRNSShareholder requisition notice
11th Sep 20195:17 pmRNSHolding(s) in Company
4th Sep 20197:00 amRNSProposed Cancellation & Notice of General Meeting
15th Jul 20197:00 amRNSTrading Update
12th Apr 20197:00 amRNSTrading Statement
29th Mar 201911:05 amRNSSecond Price Monitoring Extn
29th Mar 201911:00 amRNSPrice Monitoring Extension
29th Mar 20197:00 amRNSHalf-year Report
1st Mar 20191:15 pmRNSDirector/PDMR Shareholding
27th Feb 20197:00 amRNSSubscription of 40,000,000 New Ordinary Shares
19th Feb 20191:20 pmRNSResults of General Meeting
30th Jan 20197:10 amRNSPartnership with SIM Digital in Indonesia
30th Jan 20197:00 amRNSPosting of Circular and Notice of General Meeting
22nd Jan 20197:00 amRNSMobile Streams' new market initiative in Indonesia
14th Jan 20197:00 amRNSHalf Year Trading Statement
7th Jan 20197:00 amRNSPartnership with Reliance Jio
7th Dec 201810:44 amRNSResult of AGM
4th Dec 20187:02 amRNSSecond Price Monitoring Extn
4th Dec 20187:00 amRNSPrice Monitoring Extension
3rd Dec 20189:05 amRNSSecond Price Monitoring Extn
3rd Dec 20189:00 amRNSPrice Monitoring Extension
30th Nov 20181:28 pmRNSUpdate
30th Nov 20187:00 amRNSBilling agreement with BSNL
23rd Nov 20187:00 amRNSMOS welcome the 6 millionth user
9th Nov 20187:00 amRNSFinal Results
11th Oct 20187:00 amRNSMobile Streams break new ground in India
26th Sep 20187:00 amRNSLaunch of New Mobile Game Store
13th Sep 20187:00 amRNSMOS launch Electroneum Cryptocurrency in Argentina
31st Aug 20187:00 amRNSMobile Streams branch out in Latin America
14th Aug 20187:00 amRNSMOS announces launch of Augmented Reality game
31st Jul 20187:00 amRNSMobile Streams announce new and exclusive games
12th Jul 20187:00 amRNSTrading Statement
15th Jun 20187:00 amRNSMobile Streams signs agreement with Electroneum
3rd May 20182:05 pmRNSSecond Price Monitoring Extn
3rd May 20182:00 pmRNSPrice Monitoring Extension
1st May 20187:00 amRNSAgreement with Aptoide
30th Apr 20184:30 pmRNSTotal Voting Rights
20th Apr 20187:00 amRNSSubscription to raise funds
16th Apr 20189:48 amRNSHolding(s) in Company
9th Apr 201812:41 pmRNSDirector/PDMR Shareholding
28th Mar 20188:54 amRNSHolding(s) in Company
27th Mar 20187:00 amRNSHalf-year Report
14th Feb 20188:49 amRNSHolding(s) in Company

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