Issue of share options to Directors and PDMR
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Mobile Streams plc, the AIM quoted mobile content and data intelligence company, announces the award of share options to Directors and a senior employee.
The awards have been made to strengthen the incentivisation of the team in line with usual remuneration parameters, taking into account a) the salaries for each individual, which are at the lower end of the range for comparable companies, b) the ongoing work by the management team in developing the Mexican opportunities, and c) the raising of institutional funds by the Company as announced on 1 August, for which no commission was paid.
In making this award the Remuneration Committee has also noted the rise in the Company's market capitalisation from £2.15 million on 1 July to a current £25.80 million as of last night's closing share price. When the Options were first proposed by the Board the Company's share price was 0.085p and therefore the Remuneration Committee has agreed to honour this exercise price but in recognising the current share price, has determined that the Options shall only vest 12 months from issue, being on 20 November 2025 and provided that such Option holders remain with the Company at that time.
The Company intends to make option awards on an annual basis, but is making these one-off awards now given the significant milestones recently achieved.
The options have a ten year life span from date of grant and can be exercised any time after the vesting conditions have been met.
| Name | Number |
|---|---|
| Mark Epstein - Chief Executive Officer (Director) | 175,000,000 |
| Tom Gutteridge - Chief Product Officer (PDMR) | 125,000,000 |
| John Barker - Chairman (Director) | 33,000,000 |
| Total | 333,000,000 |
Following the grant of the Options, the total number of ordinary shares under option is 977,501,000, representing 11.4% of the Company's current issued ordinary share capital. The 208m options awarded to certain directors represents 2.4% of the Company's current issued ordinary share capital, bringing the total options awarded to directors in the past 12 months to 4.99%.
Issue of shares to consultants
The Company announces the issue of a total of 27,946,969 Ordinary Shares to a consultant under the agreement in place for the satisfaction of their outstanding remuneration up to 30 September 2024. As a result of this share issue Nigel Burton now holds a total of 209,036,496 shares, representing 2.44% of the resulting share capital of the Company.
| a) | Name | Nigel Burton |
| 2 | Reason for notification | |
| a) | Position / status | PDMR |
| b) | I niti a l noti f i ca t i on /Am e ndm e nt | Initial |
| a) | Name | Mobile Streams plc |
| b) | LEI | LEI: 213800CJX7WW927QWP43 |
| a) | D e s cr iption of the f in a n c i a l inst r um e nt, t y pe of inst r um e nt I d e nti f i ca tion c o d e | Ordinary shares of 0.01 pence each in Mobile Streams plc ISIN GB00B0WJ3L68 |
| Nature of the transaction | Issue of shares in lieu of remuneration | |
| c) | Price(s) and volumes(s) | Price(s) Volumes(s) 0.059 pence 27,946,969 |
| d) | Aggregated information | n/a |
| e) | Date of the transaction | 11 November 2024 |
| f) | Place of the transaction | London Stock Exchange, AIM (XLON) |
The Company also announces the issue of a total of 71,736,011 Ordinary Shares in settlement of advisory fees. The shares will be issued at a share price of 0.0697p.
Application will be made to the London Stock Exchange for admission of the 99,682,980 Ordinary Shares resulting from the issue of shares to consultants and advisors to trading on AIM. It is expected that admission will become effective and dealings in these Ordinary Shares will commence at 8.00 a.m. on or around 27 November 2024.
Total Voting Rights
Following the issue of the Ordinary Shares as described above, the Company's issued share capital consists of 8,576,026,001 ordinary shares with a nominal value of 0.01p each, with voting rights. The Company does not hold any Ordinary Shares in Treasury.
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