Business
Capital Media Sports (Estadio) purchase
Capital Media Sports (Estadio) purchase.
About this update from Gana Media Group Plc
[{"type":"text","content":"\n\n20h March 2025\n \nMobile Streams plc\n(\"MOS\" or \"the Company\")\n \nCapital Media Sports (Estadio) purchase\n \nMobile Streams Plc (MOS) is very pleased to announce it has agreed terms to purchase up to 90% of Capital Media Sports (\"CMS\"), the owner of the Estadio media business. www.estadiodeportes.mx. MOS currently owns 10% of CMS having originally invested in December 2023 and has agreed to purchase an additional 12.50% immediately with a call option to acquire a further 67.50%. which, if called, would bring the Company's total holding in Capital Media Sports to 90%. The remaining 10% would be retained by Capital Media. Under the binding Term Sheet, 100% of CMS is valued at USD $3 million for the 12.50% purchase and at USD$5 million in respect of the option over the additional 67.50% should the call option be exercised; the latter which would be paid in MOS shares set at the MOS closing market price on the 18th of March 2025.\nCapital Media Sports also owns 18.08% of the Mexican betting company, Bet, in which the Company has an existing 25.87% interest. The extra 12.5% of Capital Media Sports would give MOS a new total holding of 29.94% of the betting entity. If the call option was exercised this would take the MOS holding to 42.12%.\nEstadio has grown significantly since its re-launch early last year; it is revenue generating and has grown in line with expectations. Its brand is licensed for use in the Company's Mexican betting investment that will be going live to the general public imminently and MOS believes its increased ownership and control of the Estadio media brand is of significant strategic importance. It also strengthens our relationship with Capital Media Group as we continue to look for further opportunities to work together.\n\nUnder the binding Term Sheet, the Company's wholly owned subsidiary, Stream Data Limited (\"Streams\") has agreed to acquire an additional 12.5% interest in CMS for a total of USD 375,000 in cash, payable in 3 monthly amounts by 30 August 2025 to be funded from the Company's existing cash resources. The additional 67.5% can be acquired for shares in MOS as detailed above via a 12 month call option at a price valuing 100% of CMS at USD5 million. The vendors, being Capital Media and Framarvic, S.A de C.V, have agreed to a 1 year lock-in in respect of 85% of their c...