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REG - Mobile Streams plc - Placing and Proposed partnership

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RNS Number : 7482E  Mobile Streams plc  15 March 2022

15 March 2022

 

Mobile Streams plc

("MOS" or "the Company")

 

Oversubscribed placing to fund expansion

Broker Option

Proposed Gfinity partnership and investment

 

Mobile Streams plc, the AIM quoted mobile content and data intelligence
company, is pleased to announce the successful completion of a placing (the
"Placing"), arranged by the Company's Broker Peterhouse Capital Limited
("Peterhouse"), to raise £1,200,000 before expenses to support the continuing
growth of the Group, and to create a new joint venture partnership (the "JV")
with AIM traded Gfinity Plc ("Gfinity") for Mobilegaming.com, the site through
which the Company is focusing its gaming and Esports offerings. The JV will
aim to better monetise Mobilegaming.com using the combined resources of the
Company and Gfinity.

 

The Company is working to agree the terms of the joint venture and expects to
announce the conclusion of the agreement shortly. In anticipation of agreeing
this, MOS has agreed to subscribe for £250,000 in Gfinity's placing as
announced on 14 March 2022. Further details regarding the joint venture will
be announced shortly.

 

A total of 400,000,000 ordinary shares of 0.01p nominal value each ("Placing
Shares") have been placed conditional only on Admission with investors at
0.30p per share, a discount of approximately 25% to the closing mid‐market
price prior to the Placing of 0.4p on both 11 March 2022 (being the closing
price on the day before the placing was arranged) and 14 March 2022 (being the
last closing price on the day before the announcement of the Placing). Each
Placing share will rank pari passu with existing Ordinary Shares and will be
issued with one warrant per share exercisable at 0.6p per share for a period
of 18 months from the date of admission of these new Shares to AIM, which is
expected to be on or around 18 March 2022.

 

The Placing Shares represent approximately 13.4% of the enlarged share capital
of the Company and together with the attached warrants and Broker option (as
described below) would represent approximately 28.6% of the diluted issued
share capital (assuming no other warrants or options are exercised).

 

Total Voting Rights

Following the issue of the Ordinary Shares as described above, and including a
total of 8,250,000 ordinary shares issued during the month as a result of
exercises of 8,250,000 warrants exercisable at 0.2p per share, the Company's
issued share capital consists of 2,995,106,993 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.

 

Broker Option

To provide existing shareholders who did not participate in the Placing with
the opportunity to do so, the Company has granted an option (the "Broker
Option") to Peterhouse, subject to the completion of the Placing, to subscribe
for an additional 33,333,333 new Shares (the "Broker Option Shares") on the
same terms as the Placing, exercisable before 5:00pm on 16 March 2022.
Depending on demand, the number of Broker Option Shares subject to the Broker
Option may be increased at the discretion of the Company with the written
agreement of Peterhouse. As far as is practical, participation in the Broker
Option will be prioritised for shareholders (direct or indirect) on the
register at the close of business on 11 March 2022 ("Existing
Shareholders").  If the Broker Option is fully taken up, it will raise an
additional £0.1 million before expenses. If the Broker Option is not fully
subscribed by 5:00pm on 16 March 2022, orders from eligible investors will be
satisfied in full, and the balance of the Broker Option shall lapse.

 

Subscription to Broker Option

To subscribe for Broker Option Shares, Existing Shareholders and other
qualified investors should communicate their bid to Peterhouse via their
stockbroker as Peterhouse cannot take direct orders from individual private
investors. Existing Shareholders or other interested parties who wish to
register their interest in participating in the Broker Option Shares should
instruct their stockbroker to call Peterhouse on STX: 76086 or 020 7469 0938
or 020 7469 0936 or 020 7220 9797. Each bid should state the number of Broker
Option Shares the Existing Shareholder or other qualified investor wishes to
subscribe for at the Placing Price.

 

Mark Epstein, CEO Mobile Streams plc, said:

"The funds raised in this placing will enable us to take advantage of
significant revenue generating opportunities and help us grow the business at
a faster rate. We are delighted to have been able to act so quickly to not
only secure this opportunity but also add significant funds to the business
which will help us take up further deals as they present themselves. We are
now extremely well-funded, and the business is in the strongest position it
has been in for years."

 

 

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 Mobile Streams plc

The Company provides mobile games and content through its carrier
relationships, through its LiveScores platform, and with partners including
International Gaming Systems ("IGS") via www.mobilegaming.com
(http://www.mobilegaming.com) . The Streams Data business provides data
insight, intelligence, visualisation services and marketing optimisation
tools. These are sold to clients and help to power the Company's core
offerings. 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.

 

For further information, please contact:

 

Mobile Streams plc

Nigel Burton, Adviser

+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 and Duncan Vasey

+44 (0) 20 7469 0930

 

 

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