REG - Mirada PLC - Increase of loan facility

MiradaAnnouncement

28/12/2022 13:15

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RNS Number : 1106L  Mirada PLC  28 December 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.

 

28 December 2022

 

 

Mirada plc

 

("Mirada" or the "Company ")

 

Increase 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 that it has increased its loan facility with Leasa Spain, S.L.U. (the
"Lender"). 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. On 26 September
2022 the Company announced that it had agreed an extension of the Maturity
Date of the Facility to 30 November 2023. On 28 October 2022 the Company
announced that it had agreed a further increase of the facility to
€4,368,258.63 and to capitalise the outstanding interest accrued on the
Facility. The Facility is currently drawn up to €4,368,258.63.

The Lender has now agreed to increase the Facility by a further €700,000.00,
thereby increasing the total amount available under the Facility to
€5,068,258.63.  All other terms of the Facility remain unchanged and are
set out above and 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.

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) Jeremy Porter/George      +44 (0)20 3328 5656
 Payne (Corporate Finance)

 Joscelin Pinnington (Sales and Corporate Broking)

 Alma PR (Financial PR Adviser)                                                 +44 (0)20 3405 0205 mirada@almapr.co.uk

 David Ison

 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/)

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