26th Jul 2018 11:31
LONDON (Alliance News) - Mobile Tornado Group PLC said on Thursday it has entered a services agreement with shareholder and technology solutions provider InTechnology PLC for the provision of office space.
InTechnology currently holds a 43% stake in Mobile Tornado.
Under the agreement's terms, InTechnology will provide the instant communication mobile applications provider with office space in Cardale House, Harrogate at a monthly fee rental of GBP2,829.
Any payments made under the agreement By Mobile Tornado will be made on the alter of 12 months from the date of the agreement to the group reporting a positive earnings before interest, taxes, depreciation, amortisation and exceptional items for any six-month period.
Shares in Mobile Tornado were down 0.1% at 5.00 pence on Thursday.
Related Shares:
Mobile Tornado