REG - Mirriad Advertising - Corporate update

Mirriad AdvertisingAnnouncement

08/05/2025 07:01

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RNS Number : 7850H  Mirriad Advertising PLC  08 May 2025

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:

 

 Mirriad Advertising plc                                   c/o Allenby

 Stephan Beringer, Chief Executive Officer

 Nic Hellyer, Chief Financial Officer

 Nominated Adviser and Broker                              Tel: +44 (0)20 3328 5656

 Allenby Capital Limited

 James Reeve/Lauren Wright (Corporate Finance)

 Guy McDougall/Matt Butlin (Sales and Corporate Broking)

 

 

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.

 

 

 

 

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