6th Dec 2019 12:49
(Alliance News) - Mobile Streams PLC on Friday said Simon Buckingham has stepped down as chief executive officer and as a director of the company with immediate effect.
Buckingham will remain in the company in the non-board role of vice president of business operations.
The resignation comes after Buckingham on Monday sold his entire 11% stake of 44.6 million shares in the company at 0.15 pence per share totalling approximately GBP67,000.
Shares in the mobile games distributor were down 7.7% at 0.16 pence on Friday in London.
Mark Epstein, chief operating officer will take over Buckingham's chief executive officer duties until further notice.
Nigel Burton, board chair said: "We would like to thank Simon for his contribution to the business and in particular for his contribution towards the recent successful placing and readmission of the shares to trading."
Last month, Mobile Streams conducted a GBP250,000 share placing. Its shares resumed trading on AIM after the appointment of new nominated advisor Beaumont Cornish Ltd.
By Ife Taiwo; [email protected]
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