Mirriad Advertising plc (AIM: MIRI), a leading virtual in-content advertising and virtual product placement company, is pleased to announce that the WRAP Retail Offer launched on 14 May 2025 via the Winterflood Retail Access Platform (“WRAP”).
Has now closed and the Company has conditionally raised gross proceeds of approximately £0.1 million through the issue of 1,039,746,900 new Ordinary Shares (the “Retail Offer Shares”) at an issue price of 0.01 pence per new Ordinary Shares (the “Issue Price”). Accordingly, the Company has conditionally raised, total gross proceeds of approximately £1.6 million pursuant to the Placing and the WRAP Retail Offer (the “Fundraise”).
The Placing and the WRAP Retail Offer are conditional upon, amongst other things, the Placing Agreement not being terminated in accordance with its terms, entry into the JV Agreement and receipt of the JV Contribution in escrow and the Resolutions required to implement the Placing and the WRAP Retail Offer being passed by the Shareholders at the General Meeting proposed to be held at the offices of Haynes and Boone CDG, LLP, 1 New Fetter Lane, London EC4A 1AN, at 10.00 a.m. on 2 June 2025.
The Circular, which provides further details of the Fundraise and includes a notice convening the General Meeting, will be sent to Shareholders today and will also be available on the Company’s website at www.mirriadplc.com/investor-relations.
Admission to trading
Conditional on the Placing Agreement not being terminated in accordance with its terms, entry into the JV Agreement and receipt of the JV Contribution in escrow and the passing of the Resolutions required to implement the Fundraise at the General Meeting, admission of the 1,039,746,900 Retail Offer Shares and the 15,000,000,000 Placing Shares to trading on AIM (“Admission”) is expected to take place at 8.00 a.m. on 4 June 2025 (or such later time and/or date as the Allenby Capital and the Company may agree (being in any event no later than 8.00 a.m. on 18 June 2025)).
Unless otherwise defined, definitions contained in this announcement have the same meaning as set out in the announcement made by the Company on 13 May 2025 regarding the launch of the Placing (the “Launch Announcement”).
The person responsible for arranging the release of this announcement on behalf of the Company is Nic Hellyer, Chief Financial Officer of the Company.
ENDS
For further information please visit www.mirriad.com or contact:
| Mirriad Advertising Plc | c/o Allenby
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| Stephan Beringer, Chief Executive Officer
Nic Hellyer, Chief Financial Officer |
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