Mirriad Advertising PLC (AIM: MIRI, OTCQX: MMDDF) shares jumped 18% in early trading after the company confirmed receipt of a £346,000 research and development tax credit from HM Revenue & Customs.
The payment relates to the financial year ended 31 December 2024 and follows guidance issued by the company earlier this month. Mirriad specialises in virtual product placement technology, which digitally inserts branded products into film, television and other video content after production.
The tax credit provides a timely boost to the group’s finances, with Mirriad saying its cash position has increased to around £1.275 million. R&D tax credits are a government-backed scheme that allows companies investing in innovation to reclaim part of their development costs, offering a valuable source of non-dilutive funding for smaller listed businesses.
For further information please visit www.mirriad.com or contact:
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Mirriad Advertising plc Louis Wakefield, Chief Executive Officer James Black, Chairman
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c/o Allenby |
