Business
Asset Sale - Domain Name
Asset Sale - Domain Name.
About this update from Gana Media Group Plc
[{"type":"text","content":"\n RNS Number : 5777X Mobile Streams plc 08 December 2010 \n \n\n Mobile Streams plc\n(\"Mobile Streams\" or \"The Company\")\n \nAsset Sale- Domain Name\n \nLondon - (AIM: MOS) - 8 December 2010 - Mobile Streams announces today that it has sold its premium URL Ringtones.com to an unconnected third party for a cash consideration of US$750,000. After taking into consideration a carve-out through which Mobile Streams retains ownership of specific Latin American Ringtones.com sub-domains for an interim transitional period, the net cash consideration for the asset sale is US$575,000.\n \nSimon Buckingham, CEO of Mobile Streams said: \"Ringtones.com was the domain name that started the Mobile Streams content business. However, as we reinvent the company for the coming wave of open mobile services and apps, we are looking ahead to the exciting opportunities that our new Appitalism.com service presents. We want to ensure that the company has the appropriate financial resources necessary to take full advantage of the rapidly growing apps market.\" \n \nThe Company will use funds from the sale to invest at appropriate and judicious levels in capitalising on the significant opportunities for its new Appitalism.com apps, games, music and eBooks service in 2011.\n \n-ends-\n \nEnquires:\n \nMobile Streams +44 (0)1442 560029\nSimon Buckingham, Chief Executive Officer\nIan Brewer, Director\n \nVictoria Tayler, Public Relations Manager +41 79 4301915\n \nNominated Adviser\nGrant Thornton UK LLP +44 (0)20 7383 5100\nPhilip Secrett\n \nBroker\nSinger Capital Markets Limited  ...