2 March 2026

Gana Media Group plc

("GANA" or "the Company" or "the Group")

Interim Results

Highlights 

Our focus on the development and commercialisation of the Sports betting and on-line casino markets in Mexico reached an important milestone in 2025 with the consumer launch of the Sports Betting business.  Our focus during the period was on the support provided to our Mexican Associate in the preparation and launch of this business and on completion of the RTO of Estadio Gana and Capital Media Sports as announced on 22 December 2025.  

Operations in our legacy mobile data businesses represented only a small fraction of the Group's activities in the period.

Revenue for the period was £1,052k, up from £415k in 2024, and was largely derived from the provision of support services provided in connection with the development of the Sports Betting business in Mexico.  Our pre-tax loss for the 6 months at £1,513k (£804k in the 6 months to December 2024) but includes approximately £900k of professional fees associated with the acquisitions of Estadio Gana and Capital Media Sports (see below).  Our adjusted loss, being the operating loss before depreciation, amortisation, impairment, share based compensation and RTO professional fees improved materially to a loss of £147k in the 6 months to 31^st December 2025 (2024: an adjusted loss of £622k).  This improvement in operating result reflects our efforts to carefully control our operating expenditures whilst we invest strategically in the consumer launch of the Sports Betting business in Mexico.

Throughout the period we have strengthened our balance sheet with the raising of £2.2m in equity, £0.5m via the exercising of warrants and £1.7m as an advance of direct share subscriptions which were subsequently converted into shares on 8 January 2026.  This has contributed to a strong group cash position at 31 December 2025 in the amount of £1.8m. This was boosted further post 31 December by the Placing and Warrant Exercises completed in conjunction with the RTO.

We continued to develop our Streams Technology platform during the period.  This is recorded as an intangible asset in the financial statements under IFRS with a net book value at 31 December 2025 of £404k.  We believe however its trade sale value would be significantly higher based on market comparable platforms.

Post RTO, we are also very pleased to announce the strengthening of our team through the appointment of two experienced executives in Mexico: 1) Gerardo Velázquez de León has been appointed Head of Estadio Deportes.  Gerardo has become one of the country's most recognised voices, known for a style that combines analysis, reporting, and storytelling with passion, clarity, and a strong connection with audiences.  2) Lorenzo Caci has been appointed as a member of our advisory board.  He is a premier strategic architect in the global sports technology and iGaming sectors. With a career spanning over 18 years, Lorenzo has established himself as a visionary who recognized the inevitable convergence of media and betting long before it became an industry standard.

These appointments, along with the appointments to the Board made in conjunction with the RTO, serve to strengthen the knowledge, capability and reputation of the Gana Media Group in Mexico as we grow our sports betting business.

Post Balance Sheet Event

·    On 8 January 2026 the £1,666k advance of share subscriptions received in December 2025 was converted into 333 million shares at a price of 0.5p.

·    On 8 January 2026 the Company raised a further £965k via a placing of 193 million shares at 0.5p.

·    On 8 January 2026 the Company raised a further £384k via the exercise of 238 million warrants at an average exercise price of 0.16p. 

·    On 8 January 2026 the group acquired the outstanding 74.13% of the share capital of Estadio Gana Sapi de CV ("Estadio Gana") as well as the outstanding 77.5% of the share capital of Capital Media Sports SA de CV ("CMS") to bring the group's ownership of both entities up to 100%.  This was achieved by way of a share for share exchange in which 5,686 million shares were issued at 0.5p.

·    Following these events, the total number of issued shares in the Company increased to 17,191,823,671. 

·    On 8 January 2026 the group changed its name from Mobile Streams plc to Gana Media Group plc with the new ticker code GANA.L

Outlook

With the acquisitions of Estadio Gana and CMS and the consumer launch of the Mexican sports betting business now all completed, the Company is well positioned as a business.  The Directors believe that the actions taken over the year to 31 December 2025 and post balance sheet events now enable the business to fully capitalise on the exciting opportunities in Mexican Sports publishing and online betting and casino services.  We continue to create synergies of revenue to the betting business from our existing product portfolio, including both digital merchandise (NFTs) and LiveScores sites. Accordingly, we remain on track in our transition to delivering operational profitability and growth.

Mark Epstein, CEO, said:

"We are very pleased with the progress that the organisation has made in the past 6 months in the progression and consumer launch of the Mexican sports betting business.  This has only been possible due to the quality and capability of our Streams Technology platform combined with the dedication and skills of our team.  Our Company is now transitioned and developing into a growing and profitable business."