MBW Mobilewave

TIDMMBW

RNS Number : 5466I

Mobilewave Group PLC

03 July 2013

3 July 2013

MobileWave Group PLC

("MobileWave" or the "Company")

Update on Financing

The Board of MobileWave has been advised that the transaction that has been referred to in previous announcements this year ("the Transaction") has not yet completed. The Board continues to pursue this source of funding and is very confident that it will be in a position to announce an investment into the Company by the end of July 2013. The Board continues to work with its advisers to ensure that the required financing is secured.

Notwithstanding, the Board accepts that despite its close monitoring, the completion of the Transaction is beyond its control and may not complete. The Board therefore acknowledges the possible implications of Rule 41 of the AIM Rules that should the funding not be forthcoming, the admission to trading on AIM will be cancelled.

Until the investment into the Company has been made, trading in the Company's shares will remain suspended.

For further information, please contact:

MobileWave Group plc

Rory Stear, Chairman (rstear@mobilewave.com)

Charles Stanley Securities, nominated adviser and broker:

Dugald J Carlean / Carl Holmes 020 7149 6000

This information is provided by RNS

The company news service from the London Stock Exchange

END

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