REG - Mobile Streams plc - Advisory Committee & IgniteAMT Limited Agreement

Mobile StreamsAnnouncement

19/02/2024 16:00

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RNS Number : 6619D  Mobile Streams plc  19 February 2024

19 February 2024

 

Mobile Streams plc

("MOS" or "the Company")

 

Advisory Committee, IgniteAMT Limited Agreement and Warrant issuance

 

Advisory Committee formation

 

The Company is delighted to announce the appointment of Farzad Peyman as the
first member of an Advisory Committee being set up to assist the Company
expand into online casino and sports book services.

 

Farzad brings significant experience to the team. He is the founder of Virya
(www.virya.vc (http://www.virya.vc) ), a firm with a team of independent
specialist consultants supporting and investing in the most promising and
sustainable projects worldwide across betting and gaming, web3, metaverse,
blockchain and AI technologies.

 

Previously he has held senior leadership roles including CEO and CFO of
Matchbook Betting Exchange, Group Financial Controller at Sportingbet Plc (now
part of Entain plc) and executive advisory roles amongst other UK listed
businesses. Farzad has 18 years of experience across B2C and B2B gaming
companies and is a leader of significant business change supporting product
and marketing development, trading risk management, M&A, corporate
restructuring, technology, governance, regulatory, compliance and financial
control.

 

Farzad has led a series of mergers and acquisitions of sports betting, casino
and sports trading operations and oversaw the embedding of culture and
implementation of cost and revenue synergies post each transaction.

 

IgniteAMT Limited Agreement

 

MOS is also pleased to announce the expansion of the contract between
IgniteAMT Limited, a company in which director Mark Epstein has a 33% interest
("Ignite"), and Krunchdata Limited, a wholly owned subsidiary of the Company
(the "Agreement"). This Agreement replaces the original contract signed in
December 2018 between Ignite and Krunchdata Limited; MOS acquired 100% of
Krunchdata Limited in March 2022.

 

The Agreement has been expanded after a full evaluation by the Board to ensure
it provides fair and good value to the Company as it scales up. The Agreement
covers the provision of office space, on a re-charged basis, as well as
creative, technical and office support to the Company in operating its Streams
data service and NFT platforms at on or below market rates, contains a 90 day
notice period and is subject to 6 monthly review. In the year to 30 June 2023,
Kruchdata Limited paid Ignite £172,000 of fees.

 

Accordingly, the Board, with the exception of Mark Epstein, having consulted
with the Company's nominated adviser, Beaumont Cornish Limited, consider the
terms of the Agreement to be fair and reasonable insofar as shareholders are
concerned.

 

Warrant issuance

 

The Company is delighted to announce that the board of directors voted
unanimously in favour of rewarding shareholders who took part in the recent
raise announced on 12 January 2024. This is to reflect their continued support
of the business and all those that took part in the recent capital raise will
receive warrants on a one for one basis at an exercise price of 0.15p, thereby
resulting in the issue of 191,259,992 warrants to subscribe for Ordinary
Shares. These warrants will expire on 15 January 2025.

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018. Upon the publication of
this announcement via the Regulatory Information Service, this inside
information is now considered to be in the public domain.

 

About Mobile Streams

Mobile Streams delivers world class gaming content to a global audience,
through its https://heroesnftclub.com/ site and mobilegaming.com platforms,
our long-standing carrier relationships in countries including India,
Argentina and Mexico, and through our Livescores sites.

Our Streams data insight, intelligence and visualisation services and
marketing optimisation tools support the content business, as well as serving
enterprise level bespoke clients and the Streams SaaS ("Software as a
Service") self-service platform. Our strategy is to deliver next-generation
content including gaming, Esports and related NFTs to a global audience.

 

 

 

For further information, please contact:

Mobile Streams plc

Nigel Burton

+44 77 8523 4447

www.mobilestreams.com (http://www.mobilestreams.com/)

 

Beaumont Cornish (Nominated Adviser)

James Biddle and Roland Cornish

+44 (0) 20 7628 3396

 

Panmure Gordon (Sole Broker)

Simon J French

Hugh Rich

Tel: +44 (0) 20 7886 2500

 

 

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