THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Mobile Streams plc
("MOS" or the "Company")
Subscription to raise funds to finance international expansion
Mobile Streams plc (AIM:MOS), the global mobile content retailer, is pleased to announce a fundraising of £140,000 (before expenses) (the "Subscription") through the issue of 40,000,000 new ordinary shares of £0.002 (the "Subscription Shares") per share by way of a subscription at 0.35 pence per Subscription Share (the "Subscription Price"). The Subscription Price represents a discount of approximately 12.5 per cent. to the closing mid-market price of price of 0.40 pence per share on 26 February 2019.
The subscription was undertaken pursuant to the resolutions passed at the Company's most recent General Meeting on 19 February, 2019.
The net proceeds of the Subscription will be used to finance the working capital requirements as well as the facilitating the launch of the Company's services into Indonesia.
Application will be made to the London Stock Exchange for the admission to trading on AIM ("Admission") of the Subscription Shares and is expected to occur on or about at 8.00 a.m. on 5 March 2019. On Admission, the Subscription Shares will rank pari passu with the Company's existing Ordinary Shares. Following Admission, the Company's issued share capital will comprise 140,752,533 Ordinary Shares. This figure represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Simon Buckingham, Chief Executive Officer of Mobile Streams plc, commented:
"We are delighted by this increased support from our existing investors. We are excited by the potential to launch our mobilegaming.com games services in the large Indonesian market."
For further enquiries:
Mobile Streams plc
+1 347 669 9068
Simon Buckingham, Chief Executive Officer
Enrique Benasso, Chief Financial Officer
Nplus1 Singer Advisory LLP
(Nominated Adviser and Broker)
+44 (0)20 7496 3000
Notes to Editors
About Mobile Streams
Founded in 1999, Mobile Streams distributes mobile content directly to consumers through its mobilegaming.com cross-platform games store. In 2006, the company completed an IPO in London (L: MOS). Mobile Streams operates globally through subsidiaries in North America, Latin America, Europe and Asia Pacific.
This announcement contains certain forward-looking statements. These statements are made by the Company's directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent uncertainties, including both economic and business factors, underlying such forward-looking information. This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed. This announcement should not be relied on by any other party or for any other purpose.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.