Not a good time for mobile entertainment company Monstermob, it seems..
The troubled mobile content provider, Monstermob had another bad day yesterday when its share price collapsed after the company announced plans to de-list from the stock market, and the founder sold just over half of his holdings privately.
Martin Higginson, who recently rejoined the company after being sacked last year sold four million shares to LaNetro Zed at 50p per share, which represented a 63% premium to the closing price on the day. Zed now holds 66% of the company and is closing on the 75% needed to force the company into private ownership. The move has reportedly angered other shareholders who had been persuaded to reject an offer from China’s Linktone valued at 65p per share.