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On 8 May 2025, Mirriad Advertising plc's Board announced it is continuing to explore options, including an equity placing, to raise funds for the Company, further to its 1 May 2025 announcement. The Board has received initial feedback from certain investors indicating they may be willing to support a fundraise, with these discussions remaining ongoing. Directors have decided that if funds cannot be raised in the coming days, they will likely commence the process of placing the Company into administration.
| Date | 8 May 2025 |
| Time | 07:00:08 |
| Category | Corporate updates |
| ID | 7850H |
8 May 2025
Mirriad Advertising plc
("Mirriad" or the "Company")
Corporate update
The Board of Mirriad Advertising plc (AIM: MIRI), a leading in-content advertising and virtual product placement ("VPP") company, announces that, further to the Company's announcement on 1 May 2025, the Board of Mirriad ("Board" or "Directors") are continuing to look into options to assess whether it will be possible to raise funds, by way of an equity placing or otherwise, to enable the Company to continue as a going concern. The Company has received initial feedback from certain investors that they may be willing to support a fundraise and these discussions remain ongoing.
In parallel, the Board has been evaluating a range of strategic and operational options that may be implemented should a fundraise be successful. These include further cost rationalisation measures aimed at extending the Company's runway and thereby strengthening its long-term prospects.
The Directors have taken the decision to continue these discussions with potential investors. However, should it become apparent over the coming days that it will not be possible to raise funds, it is highly likely that the Directors will have no option but to immediately commence the process of placing the Company into administration. In such circumstances, it is anticipated that trading in the Company's shares would be suspended. There can be no guarantees that offers of funding will be forthcoming to enable the Company to continue as a going concern, or the terms of such offers. Further announcements will be made in due course.
Enquiries:
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Mirriad Advertising plc Stephan Beringer, Chief Executive Officer Nic Hellyer, Chief Financial Officer
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c/o Allenby |
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Nominated Adviser and Broker Allenby Capital Limited
James Reeve/Lauren Wright (Corporate Finance) Guy McDougall/Matt Butlin (Sales and Corporate Broking)
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Tel: +44 (0)20 3328 5656
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Notes to Editors:
About Mirriad
The leader in virtual product placement and in-content advertising, Mirriad's multi-patented and award-winning platform dynamically inserts products and brands into Television, SVOD/AVOD, Music, and Influencer content. Mirriad creates net-new revenue opportunities for content owners with an ad format that virtually integrates brands in entertainment content, drives exceptional performance for advertisers and dramatically improves the viewing experience.
Mirriad currently operates in the US, Europe and India.