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Director dealings: Mobile Streams director ups stake
Jonathan Bill, non-executive director of media firm Mobile Streams acquired 1m ordinary shares in the company on Monday for a total of £9,460.00.
Bill, a former Vodafone executive who joined Mobile Streams back in January, purchased 525,611 ordinary shares at 0.949p each and another 517,801 at 0.944p per share.
Despite watching revenues fall, Mobile Streams narrowed losses in its first half of trading thanks to a reduction in costs.
Pre-tax losses came in at £568,000 for the six months leading to 31 December, compared to a loss of £745,000 in the same period a year prior.
Mobile Streams, which is primarily an emerging markets focussed media business, posted a 49% drop in revenue as a result of consumers upgrading their phones from legacy devices and flip-phone models to smartphones, bring about less use of its content.
"The company has adapted to this trend through cost and marketing optimisation and in focusing in the potential growth in markets like India," Mobile Streams said when releasing its interim results at the end of March.
As of 1450 BST, shares were 28.95% higher at 1.22p.