REG - Mirriad Advertising - Corporate Update

Mirriad AdvertisingAnnouncement

23/04/2026 07:00

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RNS Number : 5579B  Mirriad Advertising PLC  23 April 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

 

23 April 2026

 

Mirriad Advertising plc

("Mirriad" or the "Company")

 

Corporate Update

 

Mirriad Advertising plc (AIM: MIRI), a leading virtual in-content advertising
and virtual product placement company, provides the following update.

2026 has proven to be an exceptionally challenging year for Mirriad. The
Company's cautious optimism at the start of the year, which was as a result of
Mirriad's partners' guidance of their expectations for advertising spend, has
not been realised.

 

Trading conditions deteriorated significantly following a rapid escalation in
geopolitical tensions during a critical period for the business, most notably
the conflict in Iran impacting the key Middle Eastern market.  This coincided
with the Company's projected busiest seasonal period and resulted in a
sustained reduction in advertising spend, from which activity levels have not
recovered.

 

Efforts to diversify revenue streams and accelerate opportunities in other
regions have progressed, but at a slower pace than required to offset these
headwinds and the Company's current funding constraints. Performance from
Mirriad's US joint venture partner has also been significantly below
expectations, adding further pressure to the Company's financial position.

 

In May 2025, the Company implemented significant cost‑reduction measures to
preserve liquidity while continuing to deliver its core product offering.
These actions materially reduced the cost base and enabled Mirriad to maintain
essential operations and progress elements of its technology roadmap, albeit
within a substantially leaner structure.

 

On 30 March 2026, the Company announced that it had cash equivalents of circa
£675k and that it would be required to secure further funding prior to the
publication of its annual report and accounts for the year ended 31 December
2025. The directors of Mirriad ("Directors") have been exploring a range of
funding options; however, to date no binding funding has been secured. The
Company's current cost base is approximately £220k per month.

 

In light of the above, and in the absence of an immediate injection of
capital, the Directors recognise that they must consider the interests of
creditors. Accordingly, the Directors expect that they may have to commence
the process of placing the Company or its operating subsidiaries into either
a liquidation process or an administration process in the near term in order
to effect an orderly wind down. Should this occur, it is anticipated that
trading in the Company's shares would be suspended.

 

Further announcements will be made in due course.

 

ENDS

 

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

 

 Mirriad Advertising plc

 Louis Wakefield, Chief Executive Officer

 James Black, Chairman                                       c/o Allenby

 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

 

About Mirriad

The leader in virtual product placement and in-content advertising, Mirriad's
multi-patented and award-winning platform can dynamically insert 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: EMEA, the US (via a Joint Venture with
Rembrand), and India.

 

 

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