REG - Mirada PLC - Extension of loan facility

MiradaAnnouncement

26/09/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220926:nRSZ5382Aa&default-theme=true

RNS Number : 5382A  Mirada PLC  26 September 2022

Prior to publication, the information contained within this announcement was
deemed by the Company to constitute inside information as stipulated under the
UK Market Abuse Regulation. With the publication of this announcement, this
information is now considered to be in the public domain.

 

26 September 2022

 

 

Mirada plc

 

("Mirada" or the "Company ")

 

Extension of loan facility

 

Mirada (AIM: MIRA), a leading provider of integrated software solutions for
digital TV operators, broadcasters and streaming platforms, is pleased to
announce the extension of the maturity date of its loan facility with Leasa
Spain, S.L.U. (the "Lender") to 30 November 2023. The Lender is controlled by
Mr Ernesto Luis Tinajero Flores who has a beneficial interest in 87.21 per
cent. of the Company's issued share capital of the Company.

On 4 June 2019, Mirada's subsidiary, Mirada Iberia, S.A.U. ("Mirada Iberia"),
obtained a revolving credit facility for up to €1.3 million from the Lender
(the "Facility"). On 21 May 2020, the Company announced that it had agreed an
extension to the maturity date of the Facility to 30 November 2021. On 27
September 2021 the Company announced that an extension to the maturity date of
the Facility had been agreed with a revised expiry date of 30 November 2022
(the "Maturity Date"), an increase of the Facility to €3.0 million and the
novation of the Facility from Mirada Iberia to Mirada plc.

The Lender has now agreed to extend the Maturity Date to 30 November
2023. All other terms of the Facility remain unchanged and are set out in the
announcement of 4 June 2019, including that the Facility is unsecured and
bears an interest rate of 8 per cent. per annum on monies that are drawn
down.  Currently, the Facility is fully drawn.

 

The amendment of the Facility is a related party transaction pursuant to rule
13 of the AIM Rules for Companies, due to the Lender being controlled by Mr
Ernesto Luis Tinajero Flores who has a beneficial interest in 87.21 per cent.
of the Company's issued share capital through his indirect interest in
Kaptungs Limited, which holds 7,768,791 ordinary shares of the Company.  The
Directors of the Company consider, having consulted with the Company's
Nominated Adviser, that the terms of the transaction are fair and reasonable
insofar as the Company's shareholders are concerned.

 

 Enquiries:

 Mirada plc                                                +44 (0)20 8187 1661
 José-Luis Vázquez, Chief Executive Officer                investors@mirada.tv (mailto:investors@mirada.tv)
 Gonzalo Babío, Finance Director

 Allenby Capital Limited (Nominated Adviser & Broker)      +44 (0)20 3328 5656
 Jeremy Porter/George Payne (Corporate Finance)
 Joscelin Pinnington (Sales and Corporate Broking)

 Alma PR (Financial PR Adviser)                            +44 (0)20 3405 0205
 David Ison                                                mirada@almapr.co.uk
 Andy Bryant
 Matthew Young

 

 

About Mirada

 

Mirada is a leading provider of products and services for Digital TV Operators
and Broadcasters. Founded in 2000 and led by CEO José Luis Vázquez, the
Company prides itself on having spent almost 20 years as a pioneer in the
Digital TV market. Mirada's core focus is on the ever-growing demand for TV
Everywhere for which it offers a complete suite of end- to-end modular
products across multiple devices, all with innovative state-of-the-art UI
designs.

 

Mirada's products and solutions, acclaimed for unparalleled flexibility and
optimal time to market, have been deployed by some of the biggest names in
digital media and broadcasting including Televisa, Telefonica, Sky, Virgin
Media, BBC, ITV and France Telecom. Headquartered in London, Mirada has
commercial representation across Europe, Latin America and Southeast Asia and
operates technology centres in the UK, Spain and Mexico. For more information,
visit www.mirada.tv (http://www.mirada.tv/)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBIGDCCBDDGDU