Mobile Streams launching new services with Vodafone India

The AIM-traded firm said it would launch gaming, e-sports and metaverse services via its own app to Vodafone India's more-than-273 million customers.

It said the app would be available on the Google Play Store in India, and would enable customers to pay directly from their Vodafone bill via their Google wallet.

Initial games would be available by the end of the first quarter, subject to approval from the Google Play Store.

The company said it was also in “advanced discussions” with the Jio mobile network in India regarding new service launches, and would update the market on those in due course.

Mobile Streams also announced that non-executive director Nigel Burton had stepped down from the board with immediate effect due to other business commitments, but said he would remain “fully committed” to the company as a part-time paid adviser.

“I'd like to thank Nigel on behalf of the company and all shareholders for leading Mobile Streams since November 2019,” said non-executive chairman Bob Moore.

“Since then, the balance sheet has been transformed, the company is well funded with current cash balances of £1.3m, the share price has increased by over 200%, and new revenue streams have been introduced, including through building on the existing telco relationships in all the remaining territories of the legacy business.

“We look forward to growing the business in the current year and beyond.”

At 0928 GMT, shares in Mobile Streams were up 7.43% at 0.49p.