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On 19 February 2024, Mobile Streams plc announced the appointment of Farzad Peyman as the first member of an Advisory Committee and the expansion of a contract between its wholly owned subsidiary Krunchdata Limited and IgniteAMT Limited, a company in which director Mark Epstein has a 33% interest. Krunchdata Limited paid IgniteAMT Limited £172,000 in fees for the year to 30 June 2023. The Company also issued 191,259,992 warrants, exercisable at 0.15p and expiring on 15 January 2025, to shareholders who participated in a capital raise announced on 12 January 2024.
| Date | 19 Feb 2024 |
| Time | 15:47:09 |
| Category | Miscellaneous |
| ID | 6619D |
19 February 2024
Mobile Streams plc
("MOS" or "the Company")
Advisory Committee, IgniteAMT Limited Agreement and Warrant issuance
Advisory Committee formation
The Company is delighted to announce the appointment of Farzad Peyman as the first member of an Advisory Committee being set up to assist the Company expand into online casino and sports book services.
Farzad brings significant experience to the team. He is the founder of Virya (www.virya.vc), a firm with a team of independent specialist consultants supporting and investing in the most promising and sustainable projects worldwide across betting and gaming, web3, metaverse, blockchain and AI technologies.
Previously he has held senior leadership roles including CEO and CFO of Matchbook Betting Exchange, Group Financial Controller at Sportingbet Plc (now part of Entain plc) and executive advisory roles amongst other UK listed businesses. Farzad has 18 years of experience across B2C and B2B gaming companies and is a leader of significant business change supporting product and marketing development, trading risk management, M&A, corporate restructuring, technology, governance, regulatory, compliance and financial control.
Farzad has led a series of mergers and acquisitions of sports betting, casino and sports trading operations and oversaw the embedding of culture and implementation of cost and revenue synergies post each transaction.
IgniteAMT Limited Agreement
MOS is also pleased to announce the expansion of the contract between IgniteAMT Limited, a company in which director Mark Epstein has a 33% interest ("Ignite"), and Krunchdata Limited, a wholly owned subsidiary of the Company (the "Agreement"). This Agreement replaces the original contract signed in December 2018 between Ignite and Krunchdata Limited; MOS acquired 100% of Krunchdata Limited in March 2022.
The Agreement has been expanded after a full evaluation by the Board to ensure it provides fair and good value to the Company as it scales up. The Agreement covers the provision of office space, on a re-charged basis, as well as creative, technical and office support to the Company in operating its Streams data service and NFT platforms at on or below market rates, contains a 90 day notice period and is subject to 6 monthly review. In the year to 30 June 2023, Kruchdata Limited paid Ignite £172,000 of fees.
Accordingly, the Board, with the exception of Mark Epstein, having consulted with the Company's nominated adviser, Beaumont Cornish Limited, consider the terms of the Agreement to be fair and reasonable insofar as shareholders are concerned.
Warrant issuance
The Company is delighted to announce that the board of directors voted unanimously in favour of rewarding shareholders who took part in the recent raise announced on 12 January 2024. This is to reflect their continued support of the business and all those that took part in the recent capital raise will receive warrants on a one for one basis at an exercise price of 0.15p, thereby resulting in the issue of 191,259,992 warrants to subscribe for Ordinary Shares. These warrants will expire on 15 January 2025.
The information contained within this announcement is deemed by the Company to constitute 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 via the Regulatory Information Service, this inside information is now considered to be in the public domain.
About Mobile Streams
Mobile Streams delivers world class gaming content to a global audience, through its https://heroesnftclub.com/ site and mobilegaming.com platforms, our long-standing carrier relationships in countries including India, Argentina and Mexico, and through our Livescores sites.
Our Streams data insight, intelligence and visualisation services and marketing optimisation tools support the content business, as well as serving enterprise level bespoke clients and the Streams SaaS ("Software as a Service") self-service platform. Our strategy is to deliver next-generation content including gaming, Esports and related NFTs to a global audience.
For further information, please contact:
Mobile Streams plc
Nigel Burton
+44 77 8523 4447
Beaumont Cornish (Nominated Adviser)
James Biddle and Roland Cornish
+44 (0) 20 7628 3396
Panmure Gordon (Sole Broker)
Simon J French
Hugh Rich
Tel: +44 (0) 20 7886 2500