Mobile Streams plc MOS partnership with, and funding to, Quanta (0881U)
March 31 2021 - 1:30AM
UK Regulatory
TIDMMOS
RNS Number : 0881U
Mobile Streams plc
31 March 2021
31 March 2021
Mobile Streams plc
("MOS" or "the Company")
Mobile Streams grows partnership with, and provides funding to,
Quanta Media Group Holdings
Mobile Streams plc, the AIM quoted mobile content and data
intelligence company, is extremely pleased to announce that initial
work with Quanta Media Group Holdings ("QMGH" or "Quanta") has
uncovered significant additional areas of synergy and
opportunity.
Quanta is a developer of high-quality sports and iGaming related
product, content and destinations which it expects to launch in the
next quarter. The company was founded by industry veteran, Andrew
Deeks, in 2019 and is headquartered in London, UK. Edward Simons
serves as Non-Executive Chairman and Tim Scoffham as Chief Revenue
Officer. Quanta is an early stage business which for the period
ended 30 September 2020 incurred losses of GBP155,551 on revenues
of GBP376,851 and as at that date had net assets of GBP125,829.
Following the announcement on 18 March that Quanta had signed a
major contract to use the Streams data platform, it has become
clear that there are multiple opportunities to drive revenue growth
via the partnership. It is now likely that MOS will be able to
drive extra revenue from its legacy business as initially thought,
whilst Quanta has also confirmed it should be able to utilise its
iGaming platform to drive additional revenue from the legacy MOS
IP, including mobilegaming.com.
In order to accelerate development of these opportunities and
advance Quanta's business plans, Mobile Streams is providing QMGH a
Convertible Loan Note of GBP250,0000 (the "Loan"), with a further
GBP250,000 to be made available subject to achieving various agreed
milestones, centred around its entrance to key markets. The Loan,
which accrues interest at 5% per annum until repayment or
conversion, and which is redeemable on 31 December 2022, can be
converted into Ordinary Shares in QMGH ("Ordinary Shares") earlier
on the following agreed basis: at a price per Ordinary Share being
the lower of a) GBP0.07 per Ordinary Share, b) the price any other
Ordinary Shares are issued prior to conversion or c) a discount of
20% to the valuation of the Ordinary Shares in connection with
Admission to AIM or any other regulated market or on change of
control of QMGH . These funds will be used by Quanta to fast track
their business plan and deliver on MOS opportunities
simultaneously. The management of the two companies will be
investigating all avenues and possibilities available to deliver
further growth.
Ed Simons - Non-Executive Chairman QMGH, said:
"We are absolutely delighted to be developing further our
partnership with Mobile Streams. In my career spanning over five
decades in film, entertainment, media & sports promotion and TV
broadcasting, from sell-out shows at Wembley and Las Vegas to
blockbuster movies, I have rarely seen an early stage opportunity
of this potential and magnitude. The Quanta iGaming lead generation
business powered by Mobile Streams is in itself an irresistible
proposition. We have now had an opportunity to look at the Mobile
Streams legacy assets and we are convinced that the Quanta team,
using their performance marketing and branding experience in
combination with MOS's existing relationships, will be able to
drive revenue and partnerships via Mobile Streams.
Nigel Burton, Non-Executive Director, said:
"We are delighted to be expanding our partnership with Quanta.
We feel there is significant scope to grow the business quickly and
we are focused on delivering that growth as quickly as possible.
This deal will enable us to leverage our legacy assets and platform
faster than previously thought and deliver even more value into the
business. QMGH also has very exciting plans to enter the global
iGaming lead generation market, bringing yet more scope to grow the
Streams data platform."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
For further information, please contact:
Mobile Streams plc
Nigel Burton, Non-Executive Director
+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, Duncan Vasey and Eran Zucker
+ 44 (0) 20 7469 0930
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END
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