Mobile Streams takes ownership of LiveScores

RNS Number : 3627B

Mobile Streams plc

11 February 2022

 

11 February 2022

Mobile Streams plc

("MOS" or "the Company")

Mobile Streams takes ownership of LiveScores services

Issue of Equity and TVR

Mobile Streams plc is pleased to announce that it has taken sole ownership of the LiveScores services that it had previously been operating under a revenue share agreement with Quanta Media Group ('Quanta'). LiveScores was developed by Tim Scoffham in association with Quanta with its first launch in Mexico as per the MOS announcement of 26 July 2021. MOS has agreed to acquire LiveScores (the 'Acquisition') and cancel the revenue share agreement with Quanta, thereby removing any revenue share and giving MOS total control of not only the services previously announced but also the underlying platform engine, domains and IP that support LiveScores. LiveScores has subsequently launched in Argentina and Brazil. The Company is also pleased to announce four B2B contracts to deliver its LiveScores services platform in various territories including Italy, India, Turkey and Africa.

The consideration for the acquisition is £125,000 to be paid in shares, which are subject to a minimum 12 month lockup, and up to £75,000 in shares in three equal further tranches based on revenue derived from specific existing contracts over the next 12 months.

Additionally, the Company is delighted to announce the appointment of Tim Scoffham to lead the global LiveScores business and develop additional opportunities for the Company. Tim has spent much of his career in mobile marketing, content creation and affiliation, with emphasis in frontier territories of LATAM, Africa and Asia. Working directly with many telecom carriers around the World, Tim has provided strategies for clients to help better monetise mass audiences through content distribution and engagement.

Details of the Acquisition

Under the Share Purchase Agreement between the Company and Tim Scoffham, the initial consideration of £125,000 is to be paid in shares, to be issued at a price of 0.423 pence per share (the "Issue Price") being the VWAP per share for the three months to 9 February 2022. Additional consideration of up to £75,000 may be payable in shares at the Issue Price (together the "Consideration Shares"). All Consideration Shares will be subject to a 12 month lock-in and further 12 month orderly market arrangement.

Application for Admission to Trading on AIM

Application has been made for 29,539,323 new Ordinary Shares of 0.01 pence each, which when issued will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM, which is expected to become effective at 8.00 a.m. on or around 16 February 2022.

Total Voting Rights

Following the issue of the 29,539,323 Ordinary Shares issued as above, the Company's issued share capital consists of 2,569,981,993 Ordinary Shares with a nominal value of 0.01p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.

The above figure of 2,569,981,993 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.

Tim Scoffham said:

"I am delighted to be joining Mobile Streams to lead the global LiveScores business and help grow the wider business. I think there are enormous opportunities for MOS. The company is in an amazing position and I look ford to helping them accelerate their already impressive growth."

Mark Epstein, CEO Mobile Streams, said:

"We are extremely pleased to have someone's with Tim's ability on board. He has great experience in the I-gaming sector and I look forward to us working together. His significant abilities will be a big help as we continue growing around the world and expanding our offering."

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 Streams Data

The Streams Data business provides data insight, intelligence and visualisation services and marketing optimisation tools. 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. Enterprise clients include The Economist and Quanta Media Group.

For further information, please contact:

Mobile Streams plc

Nigel Burton,

[phone]

www.mobilestreams.com

Beaumont Cornish (Nominated Adviser)

James Biddle and Roland Cornish

[phone]

Peterhouse Capital Limited (Broker)

Lucy Williams and Duncan Vasey

[phone]

 

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