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Mobile Streams

  • BY: Andrew Hore |
  • POSTED: 15/09/2010 |

Investor Rhys Davies has sold 1.5m shares in mobile content provider Mobile Streams, leaving him with 8.55% of the company.

The share price rose to 2.9p after it was announced that Davies had bought 12.9% of Mobile Streams in September 2008. Just under two years later, the share price rose 3.25p to 10.25p, valuing Mobile Streams at 3.72m. The share price has risen by 6.375p over the past week. Davies, who is a director of other Aim companies including China Growth Opportunities and Rapid Realisations Fund, sold the shares on 10 September so he is likely to have sold them at a profit but probably a more modest one than the current share price would suggest.

Mobile Streams reported a 20% rise in revenues to 4.3m in the first half of 2010. The interim loss was reduced from 578,000 to 13,000. There is 1.44m in the bank which covers more than one-third of the market value.

The company has launched its new website www.appitalism.com, where users can download and discuss digital content. 

Download the September edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2010_12.pdf

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