Mobile Streams plc Subscription to raise funds (5369L)
April 20 2018 - 1:00AM
UK Regulatory
TIDMMOS
RNS Number : 5369L
Mobile Streams plc
20 April 2018
This announcement contains inside information.
Mobile Streams plc
("MOS" or the "Company")
Subscription to raise funds for product development and
subscriber increase
Mobile Streams plc (AIM:MOS), the emerging markets focused
mobile media company, is pleased to announce a fundraising of
GBP105,329 (before expenses) (the "Subscription") through the issue
of 9,159,000 new ordinary shares of GBP0.002 (the "Subscription
Shares") per share by way of a subscription at 1.15 pence
Subscription Share (the "Subscription Price"). The Subscription
Price represents a discount of approximately 17.9 per cent. to the
closing bid price of price of 1.40 pence per share on 19 April
2018.
The net proceeds of the Subscription will be used for product
development and enhancement as well as creating new content in
order to assist the Company to reduce customer churn and increase
the number of paying subscribers. In addition, the additional
funding will provide greater flexibility in venturing into new
markets and territories.
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 26
April 2018. 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
100,752,533 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. The net proceeds will enable us to focus on reducing
customer churn and increasing our paying subscriber numbers."
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
Alex Price
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEVKLFFVZFBBBX
(END) Dow Jones Newswires
April 20, 2018 02:00 ET (06:00 GMT)
Mobile Streams (LSE:MOS)
Historical Stock Chart
From Apr 2024 to May 2024
Mobile Streams (LSE:MOS)
Historical Stock Chart
From May 2023 to May 2024