31st March 2025
Mobile Streams plc
("MOS" or "the Company")
Acquisition of Estadio Gana
Suspension of the shares on AIM
Mobile Streams plc, the AIM quoted mobile content and data intelligence company, is excited to announce that it has entered into a Term Sheet with Estadio Gana to acquire 74.13% of the company, thereby taking its interest to 100%. The transaction is payable in MOS shares at the closing price on 27 March 2025 (the "Proposed Transaction").
The valuation for Estadio Gana has been agreed at £62.8m following its recent launch.
Whilst the Term Sheet is conditional on, amongst other matters, MOS's due diligence and compliance with the relevant regulatory requirements, the terms and conditions set forth within the Term Sheet are binding on Estadio Gana.
This potential acquisition represents the cornerstone of the Company's aim to create a
world class leading integrated sports, media and entertainment conglomerate focused on
the Latin American region, and particularly the Mexican market. This will span and bring
together various media, entertainment, technology and IGaming businesses. It intends to
work on this over the coming months.
MOS is looking forward to bringing together Estadio Gana (EG) and Capital Media Sports (CMS) and if possible other business into the Mobile Streams umbrella to create a fast-
growing world class, sports, media and entertainment business. The CMS deal was announced by RNS on the 20th March.
Our excitement is driven by independent data that suggests that Mexico's sports betting and gaming industry is projected to reach an impressive market size of US$11.47 billion by the end of 2025 according to Yogonet Gaming News. Further growth is expected, and the market is expected to surge by up to a further 70% by 2028. Mexico is also set to co-host the FIFA World Cup in 2026, leaving the industry primed for exponential expansion.
The Proposed Transaction, if completed, would constitute a reverse takeover under the AIM Rules and accordingly the Company would need to apply for re-admission of its shares to the AIM Market ("AIM") of the London Stock Exchange following approval of the Proposed Transaction by MOS's Shareholders at an EGM.
As the Company is currently unable to provide a full disclosure under the AIM Rules, trading in the Company's listing in its ordinary shares on AIM and trading from the London Stock Exchange ("LSE") will be suspended with effect from 7.30am this morning pending publication of the Admission Document or an announcement that the Proposed Transaction is not proceeding.
There can be no certainty that the Proposed Transaction will take place and the Company will continue to update shareholders in due course. Furthermore, the Company will need to raise additional funds to fund the cost of the Proposed Transaction and therefore, whilst the Company is confident this can be achieved shortly, there can be no guarantee. While the Company will seek to publish the Admission Document as soon as possible, the timing of this cannot yet be accurately forecast.
Mark Epstein, CEO, said:
"We are excited and extremely pleased to announce our intended acquisition of Estadio Gana. This along with acquiring a controlling stake in Capital Media Sports and other possible businesses will enable us to form a sports media and entertainment conglomerate with the ambition to span Latin America. Our initial focus is on taking a leading position in the fast-growing Mexican market, but our ambitions are significant as we look to grow across the LATAM region. Simply put we want to create a world class sports, media and entertainment business."
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulations (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.
For further information, please contact:
Mobile Streams plc
John Barker, Chairman
+44 7711 920 865
Beaumont Cornish (Nominated Adviser)
James Biddle and Roland Cornish
+44 (0) 20 7628 3396
Peterhouse Capital Limited (Broker)
Lucy Williams, Duncan Vasey and Eran Zucker
+44 (0) 20 7469 0930
Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.
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