REG - Mirriad Advertising - Grant of options

Mirriad AdvertisingAnnouncement

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RNS Number : 6693U  Mirriad Advertising PLC  11 August 2025

 

11 August 2025

 

Mirriad Advertising plc

("Mirriad" or the "Company")

 

Grant of Options

 

Mirriad Advertising plc (AIM: MIRI), a leading in-content advertising and
virtual product placement company, announces the grant of options over new
ordinary shares of £0.00001 each in the Company ("Ordinary Shares"). Options
have been granted in respect of a total of 2,167,500,000 new Ordinary Shares
to members of staff, representing 12.70 per cent. of the Company's current
issued share capital (the "Options").

 

As announced on 13 May 2025 at the time of completing its fundraise (the
"Fundraise"), the Company announced that it intended to make a substantial
grant of options to remaining executive board members and UK staff, as a
method of incentivising key management personnel and retaining them in a way
that also preserved the Company's cash resources. The Company has reduced its
total board costs by around £60,000 per month to approximately £20,000 per
month since the completion of the Fundraise.

 

1,589,500,000 of the Options have been granted pursuant to the Mirriad EMI
option scheme and 578,000,000 have been granted as unapproved options.

 

The Options have an exercise price 0.01p (being the issue price of Fundraise),
and vest in three equal tranches on the first, second and third anniversary of
the date of grant. The Options expire on the business day immediately
preceding the tenth anniversary of the date of grant, subject to continued
employment.

 

Grant of Options to directors and related party transaction

 

850,000,000 and 510,000,000 Options have been granted to Louis Wakefield, CEO,
and James Black, Chair, respectively.

 

Louis Wakefield has agreed to surrender his 240,463 existing options with an
exercise price of 3p at the time of grant of the new Options. Following the
grant of Options and surrender of existing options, Louis Wakefield and James
Black hold total options over 850,000,000 and 510,000,000 new Ordinary Shares
respectively.

 

The grant of Options to Louis Wakefield and James Black is a related party
transaction pursuant to rule 13 of the AIM Rules for Companies.  Accordingly,
JoAnna Foyle and Nic Hellyer, the independent Directors, having consulted with
the Company's nominated adviser, consider that the terms of the Option grants
to the directors are fair and reasonable insofar as the Company's shareholders
are concerned.

 

The table for notification and public disclosure of transactions by persons
discharging managerial responsibilities in accordance with the requirements of
the EU Market Abuse Regulation, which forms part of domestic UK law pursuant
to the European Union (Withdrawal) Act 2018, is appended below.

 

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

 

 Mirriad Advertising plc

 Louis Wakefield, Chief Executive Officer

 Nic Hellyer, Chief Financial Officer                      c/o Allenby

 Allenby Capital Limited (Nominated Adviser and Broker)

 James Reeve/Lauren Wright (Corporate Finance)

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

 

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities ("PDMRs") and persons closely associated ("PCA")
with them.

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Names                                                        1.   Louis Wakefield (CEO)

                                                                   2.   James Black (Chair)

 2    Reason for the notification

 a)   Position/status                                              As above

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Mirriad Advertising plc

 b)   LEI                                                          213800ZKOK9GIME7HE62

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  Ordinary Shares of £0.00001 each

 b)   Identification code                                          GB00BF52QY14

 c)   Nature of the transaction                                    Grant of options for Ordinary Shares

 d)   Price(s) and volume(s)

  No. Shares   Price
                                                                   1.  850,000,000  0.01p
                                                                   2.  510,000,000  0.01p

 

 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price
 e)   Date of the transactions                                     08 August 2025

 f)   Place of the transaction                                     Outside of a trading venue

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

N/A

e)

 

Date of the transactions

08 August 2025

f)

 

Place of the transaction

Outside of a trading venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Names                                                        Louis Wakefield (CEO)

 2    Reason for the notification

 a)   Position/status                                              As above

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Mirriad Advertising plc

 b)   LEI                                                          213800ZKOK9GIME7HE62

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  Ordinary Shares of £0.00001 each

 b)   Identification code                                          GB00BF52QY14

 c)   Nature of the transaction                                    Surrender of options for Ordinary Shares

 d)   Price(s) and volume(s)                                       No. of Options: 240,463

                                                                   Exercise Price: £0.03

 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price
 e)   Date of the transactions                                     08 August 2025

 f)   Place of the transaction                                     Outside of a trading venue

 

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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