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Prices & Quotes - UK Markets - Mobile Streams (MOS)

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Share Price:
Down 0.24p
Change Today:
-0.010p
Market Cap:
5.53m
Sector:
Mobile Telecommunications

Mobile Streams boss halves pay as part of cost-cutting exercise

By Iain Gilbert

Date: Friday 12 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Mobile content delivery outfit Mobile Streams has undertaken a "comprehensive cost-cutting exercise" and is looking at all options as its cash pile dwindles.
Chief executive Simon Buckingham said: "Given the falling revenue, it was necessary to take decisive cost reduction actions. This has allowed the company to preserve and protect its remaining cash balances.

"The company is looking at all potential business development opportunities and other asset optimisation strategies."

The cost-cutting has included a significant reduction in headcount and rationalisation of its main operating centre in Argentina as well as reducing operating expenditure in the UK, US and India.

Mobile Streams' rationalisation and cost-cutting exercise has resulted in a 290,000 drop in redundancy costs and severance payments, primarily due to the long service of many employees and the severance terms of its Argentinean arm.

Following payment of its severance obligations, the AIM-listed firm's cash balance stood at 219,000.

Monthly operating expenses in Argentina will fall 72% year-on-year from May onwards, leading to a reduction in global operating expenses of around 62%.

As part of the cost-cutting exercise, Mobile Streams' chief executive and non-executive directors volunteered a partial salary deferral of 50%.

As of 0835 BST, Mobile Streams shares had climbed 6.36% to 0.18p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Mobile Streams Market Data

Currency UK Pounds
Price 0.24p
Change Today -0.010p
52 Week High 0.44p
52 Week Low 0.20p
Volume 15,758,392
Shares Issued 2,354.55m
Market Cap 5.53m

Performance Indicators

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Mobile Streams Dividends

No dividends found

Trades for 30-Jul-2021

Time Volume / Share Price
16:28 3,333,300 @ 0.24p
14:38 900 @ 0.23p
14:01 336,813 @ 0.23p
13:32 343,507 @ 0.24p
12:31 650,000 @ 0.24p

Mobile Streams Key Personnel

CEO Mark Alexander Epstein
Finance Director Rama Uthayanan