REG - Mirriad Advertising - Appointment of Administrators to Mirriad plc

Mirriad AdvertisingAnnouncement

14/05/2026 07:00

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RNS Number : 2427E  Mirriad Advertising PLC  14 May 2026

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 4 as it forms part of UK domestic law pursuant to the Market
Abuse (Amendment) (EU Exit) regulations (SI 2019/310) ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR. Upon the publication of this announcement via the Regulatory Information
Service, this inside information is now considered to be in the public domain

 

14 May 2026

 

Mirriad Advertising plc (in administration)

("Mirriad plc" or the "Company" and together with its subsidiaries, the
"Group")

 

Appointment of Administrators to Mirriad plc

 

On 29 April 2026, the Company announced the appointment of administrators to
its UK operating subsidiary, Mirriad Limited. Following this appointment, it
has become apparent that a number of key supplier and employee contracts are
held by Mirriad plc rather than Mirriad Limited. As a result, certain
liabilities and obligations associated with the Group's business sit within
Mirriad plc. The directors of Mirriad plc (the "Board") have therefore
resolved to place Mirriad plc into administration in order to protect and
preserve value for creditors and stakeholders. Philip Reynolds of FRP Advisory
and Robert Ferne of Begbies Traynor have therefore been appointed as Joint
Administrators of the Company ("Administrators").

 

The appointment is intended to support an orderly process in respect of the
Company's remaining assets and liabilities, including the realisation of the
Group's intangible assets. If creditors are repaid in full, the
Administrators' current expectation is that the Company may be able to exit
administration on a solvent basis, following which control would be returned
to the Board.

 

Shareholders should note that this outcome remains subject to a number of
factors, including the level of realisations achieved, the quantum of admitted
creditor claims, and the costs of the administration. There is no guarantee
that such realisations will be achieved, and should they not, any residual
value to transpire from the administration process will be distributed to the
agreed creditors and, should funds permit, the Company's shareholders with the
Company being dissolved thereafter. The Company's ordinary shares remain
suspended from trading on AIM.

 

As a result of the appointment of the Administrators, the Company will no
longer be able to convene the general meeting pursuant to the requisition
notice announced on 28 April 2026.

 

ENDS

 

For further information please visit www.mirriad.com
(http://www.mirriad.com/)  or contact:

 

 Joint Administrators

 Philip Reynolds / Robert Ferne                              Luke.mahoney@frpadvisory.com

 Mirriad Advertising plc                                     c/o Allenby

 Louis Wakefield, Chief Executive Officer

 James Black, Chairman

 Allenby Capital Limited (Nominated Adviser and Broker)

 James Reeve (Corporate Finance)

 Matt Butlin / Lauren Wright (Sales and Corporate Broking)   Tel: +44 (0)20 3328 5656

 Citypress (PR)

 Ricky Ambury                                                Ricky.Ambury@citypress.co.uk

 

 

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