REG - Mobile Streams plc - Issue of share options to Directors and PDMR

Mobile StreamsAnnouncement

20/11/2024 15:30

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RNS Number : 0215N  Mobile Streams plc  20 November 2024

20 November 2024

 

Mobile Streams plc

("MOS" or "the Company")

 

Issue of share options to Directors and PDMR, issue of shares to consultants,
and Total Voting Rights ("TVR")

 

 

Issue of share options to Directors and PDMR

Mobile Streams plc, the AIM quoted mobile content and data intelligence
company, announces the award of share options to Directors and a senior
employee.

 

The awards have been made to strengthen the incentivisation of the team in
line with usual remuneration parameters, taking into account a) the salaries
for each individual, which are at the lower end of the range for comparable
companies, b) the ongoing work by the management team in developing the
Mexican opportunities, and c) the raising of institutional funds by the
Company as announced on 1 August, for which no commission was paid.

 

In making this award the Remuneration Committee has also noted the rise in the
Company's market capitalisation from £2.15 million on 1 July to a current
£25.80 million as of last night's closing share price. When the Options were
first proposed by the Board the Company's share price was 0.085p and therefore
the Remuneration Committee has agreed to honour this exercise price but in
recognising the current share price, has determined that the Options shall
only vest 12 months from issue, being on 20 November 2025 and provided that
such Option holders remain with the Company at that time.

 

The Company intends to make option awards on an annual basis, but is making
these one-off awards now given the significant milestones recently achieved.

 

The options have a ten year life span from date of grant and can be exercised
any time after the vesting conditions have been met.

 

 Name                                               Number
 Mark Epstein - Chief Executive Officer (Director)  175,000,000
 Tom Gutteridge - Chief Product Officer (PDMR)      125,000,000
 John Barker - Chairman (Director)                  33,000,000
 Total                                              333,000,000

 

Following the grant of the Options, the total number of ordinary shares under
option is 977,501,000, representing 11.4% of the Company's current issued
ordinary share capital. The 208m options awarded to certain directors
represents 2.4% of the Company's current issued ordinary share capital,
bringing the total options awarded to directors in the past 12 months to
4.99%.

 

Issue of shares to consultants

The Company announces the issue of a total of 27,946,969 Ordinary Shares to a
consultant under the agreement in place for the satisfaction of their
outstanding remuneration up to 30 September 2024. As a result of this share
issue Nigel Burton now holds a total of 209,036,496 shares, representing 2.44%
of the resulting share capital of the Company.

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                                                            Nigel Burton
 2   Reason for notification
 a)  Position / status                                                                               PDMR
 b)  Initial notification                                                                            Initial

     /Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                                                            Mobile Streams plc
 b)  LEI                                                                                             LEI: 213800CJX7WW927QWP43
 4   Details of the transaction(s):
     section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument                                     Ordinary shares of 0.01 pence each in Mobile Streams plc

     Identification code                                                                             ISIN GB00B0WJ3L68
     Nature of the transaction                                                                       Issue of shares in lieu of remuneration
 c)  Price(s) and volumes(s)

Price(s)     Volumes(s)
                                                                                                     0.059 pence  27,946,969

 
 d)  Aggregated information                                                                          n/a
 e)  Date of the transaction                                                                         11 November 2024
 f)  Place of the transaction                                                                        London Stock Exchange, AIM (XLON)

 

d)

Aggregated information

n/a

e)

Date of the transaction

11 November 2024

f)

Place of the transaction

London Stock Exchange, AIM (XLON)

 

The Company also announces the issue of a total of 71,736,011 Ordinary Shares
in settlement of advisory fees. The shares will be issued at a share price of
0.0697p.

 

Application will be made to the London Stock Exchange for admission of the
99,682,980  Ordinary Shares resulting from the issue of shares to consultants
and advisors to trading on AIM. It is expected that admission will become
effective and dealings in these Ordinary Shares will commence at 8.00 a.m. on
or around 27 November 2024.

 

Total Voting Rights

Following the issue of the Ordinary Shares as described above, the Company's
issued share capital consists of 8,576,026,001 ordinary shares with a nominal
value of 0.01p each, with voting rights. The Company does not hold any
Ordinary Shares in Treasury.

Therefore, the above 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
the Market Abuse Regulations (EU) No. 596/2014, as it forms part of UK
Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon
publication of this announcement, this inside information is now considered to
be in the public domain.

 

For further information, please contact:

 

Mobile Streams plc

John Barker, Chairman

+44 7711920865

 

Mark Epstein

 

www.mobilestreams.com

 

Beaumont Cornish (Nominated Adviser)

James Biddle and Roland Cornish

+44 (0) 20 7628 3396

 

Peterhouse Capital Limited (Broker)

Lucy Williams and Duncan Vasey

+44 (0) 20 7469 0930

 

 

Nominated Adviser Statement

 

Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated
Adviser and is authorised and regulated in the United Kingdom by the Financial
Conduct Authority. Beaumont Cornish's responsibilities as the Company's
Nominated Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM Rules for
Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont
Cornish is not acting for and will not be responsible to any other persons for
providing protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in the
announcement or any matter referred to in it.

 

 

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