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:
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Mirriad Advertising plc Stephan Beringer, Chief Executive Officer Nic Hellyer, Chief Financial Officer |
