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Mobile Streams PLC - London-based mobile content provider - Says a facility to allow existing shareholders to participate in the fundraise has been over-subscribed by existing shareholders. Demand was received for about £400,000 with allocations scaled back so as to raise £200,000 at a price of 0.18 pence per share. 111.1 million shares were issued. Shares are expected to start trading on AIM around October 12.
Chief Executive Officer Mark Epstein said: ‘I'd like to thank shareholders for their fantastic support in both the placing and broker option. We have restricted the broker option to less than half the demand to reflect the existing headroom available and to strike a balance between satisfying shareholder demand and restricting dilution to existing shareholders.’
Current stock price: 0.18 pence, down 1.4% on Friday mid-morning in London
12-month change: down 66%
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