REG - Mobile Streams plc - AGM Update

Mobile StreamsAnnouncement

31/01/2024 07:00

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RNS Number : 4409B  Mobile Streams plc  31 January 2024

31(st) January 2024

Mobile Streams plc

("MOS" or "the Company")

AGM update

The Company will be holding its AGM at noon today. Ahead of that MOS is
pleased to provide an update on strategic and operational progress.

Further to the announcement on 12(th) December regarding the expansion of the
Company's operations in Mexico, Capital Media Sports (in which the Company is
a 10% shareholder) has completed the acquisition of all associated IP for the
print and digital operations of Estadio, and Capital Media Group has also
transferred and recruited employees to work on the publication. This provides
a solid foundation for the relaunch and extension of the brand.

 

Preparations for the launch of the Mexican betting business (in which MOS has
a 25% direct shareholding and a 2% indirect shareholding through its interest
in Capital Media Sports) are well underway and the business is on track to
launch early in Q2 2024, with the potential for this timeline to be
accelerated.

 

MOS has invoiced the first' fees under the terms of its service agreement with
the Mexican betting business and expects to receive these funds shortly. These
fees are scheduled to build over the course of the next 12 months, reflecting
the anticipated growth in the betting operations, and generate substantial
revenue for the Company.

 

Whilst the new revenue streams build, costs continue to be carefully managed,
helped by the £25,000 per month saving through the reallocation of certain
costs in MOS's Mexican subsidiary, and the Company remains on track to reach
cash flow break-even by the end of 2024.

 

MOS's digital content and digital merchandise offerings remain core elements
to its business model and plans are underway to obtain a third-party valuation
of its NFT platform, as previously disclosed.

 

Mark Epstein, CEO, commented, "The Board is extremely grateful for the support
we have received from our shareholders in the past 12 months. We will continue
to invest to support our expansion opportunities in Mexico, in order to
deliver value for them".

 

For further information, please contact:

 

Mobile Streams plc

Nigel Burton, Adviser

+44 77 8523 4447

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

 

Beaumont Cornish (Nominated Adviser)

James Biddle / Roland Cornish

+44 (0) 20 7628 3396

 

Panmure Gordon (Broker)

Simon J French

+44 (0) 20 7886 2500

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