REG - Mobile Streams plc - Mobile Streams takes ownership of LiveScores

Mobile StreamsAnnouncement

11/02/2022 07:00

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RNS Number : 3627B  Mobile Streams plc  11 February 2022

11 February 2022

 

Mobile Streams plc

("MOS" or "the Company")

 

Mobile Streams takes ownership of LiveScores services

Issue of Equity and TVR

 

Mobile Streams plc is pleased to announce that it has taken sole ownership of
the LiveScores services that it had previously been operating under a revenue
share agreement with Quanta Media Group ('Quanta'). LiveScores was developed
by Tim Scoffham in association with Quanta with its first launch in Mexico as
per the MOS announcement of 26 July 2021. MOS has agreed to acquire LiveScores
(the 'Acquisition') and cancel the revenue share agreement with Quanta,
thereby removing any revenue share and giving MOS total control of not only
the services previously announced but also the underlying platform engine,
domains and IP that support LiveScores. LiveScores has subsequently launched
in Argentina and Brazil. The Company is also pleased to announce four B2B
contracts to deliver its LiveScores services platform in various territories
including Italy, India, Turkey and Africa.

 

The consideration for the acquisition is £125,000 to be paid in shares, which
are subject to a minimum 12 month lockup, and up to £75,000 in shares in
three equal further tranches based on revenue derived from specific existing
contracts over the next 12 months.

 

Additionally, the Company is delighted to announce the appointment of Tim
Scoffham to lead the global LiveScores business and develop additional
opportunities for the Company. Tim has spent much of his career in mobile
marketing, content creation and affiliation, with emphasis in frontier
territories of LATAM, Africa and Asia. Working directly with many telecom
carriers around the World, Tim has provided strategies for clients to help
better monetise mass audiences through content distribution and engagement.

 

Details of the Acquisition

 

Under the Share Purchase Agreement between the Company and Tim Scoffham, the
initial consideration of £125,000 is to be paid in shares, to be issued at a
price of 0.423 pence per share (the "Issue Price") being the VWAP per share
for the three months to 9 February 2022. Additional consideration of up to
£75,000 may be payable in shares at the Issue Price (together the
"Consideration Shares"). All Consideration Shares will be subject to a 12
month lock-in and further 12 month orderly market arrangement.

 

Application for Admission to Trading on AIM

 

Application has been made for 29,539,323 new Ordinary Shares of 0.01 pence
each, which when issued will rank pari passu with the existing Ordinary
Shares in issue, to be admitted to trading on AIM, which is expected to become
effective at 8.00 a.m. on or around 16 February 2022.

 

Total Voting Rights

Following the issue of the 29,539,323 Ordinary Shares issued as above, the
Company's issued share capital consists of 2,569,981,993 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 2,569,981,993 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.

 

Tim Scoffham said:

"I am delighted to be joining Mobile Streams to lead the global LiveScores
business and help grow the wider business. I think there are enormous
opportunities for MOS. The company is in an amazing position and I look ford
to helping them accelerate their already impressive growth."

 

Mark Epstein, CEO Mobile Streams, said:

"We are extremely pleased to have someone's with Tim's ability on board. He
has great experience in the I-gaming sector and I look forward to us working
together. His significant abilities will be a big help as we continue growing
around the world and expanding our offering."

 

 

This announcement contains 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, this inside information is now considered to
be in the public domain.

 

About Streams Data

The Streams Data business provides data insight, intelligence and
visualisation services and marketing optimisation tools. The enterprise level
bespoke service achieved first revenues in June 2020, and the Streams SaaS
("Software as a Service") self-service platform generated initial customer
revenues in October 2020. Enterprise clients include The Economist and Quanta
Media Group.

 

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

Peterhouse Capital Limited (Broker)

Lucy Williams and Duncan Vasey

+44 (0) 20 7469 0930

 

 

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