7 November 2013
mirada plc ("mirada" or "the Company")
(AIM: MIRA)
Result of AGM and trading update
The Board of mirada plc, the AIM-quoted audiovisual interaction specialist, is
pleased to announce that all resolutions proposed to shareholders at the
Company's AGM, held earlier today, were duly passed.
Jose Luis Vazquez, Chief Executive Officer of mirada, commented:
"The Company has made good commercial progress during the first half of the
year, most notably we have secured an agreement for the deployment of our
multi-screen product, iris. The contract is with an established digital
television operator based in Latin American, which currently has an existing
installed subscriber base of several million customers.
The Company is being paid in excess of US$1.4 million in relation to
professional services for the deployment and trial of the product, most of this
revenue will be recognised in the second half of the current financial year,
and the work on this project is expected to be completed by June 2014. If the
product is rolled out across the customer's existing subscriber base, the
licence fees generated over a three year period will far exceed the Group's
existing annual turnover.
The rapid growth we have experienced in the Latin American market, with four
major launches of new digital television services incorporating mirada's
technology being made in the last 24 months, has led to a high level of
recognition of mirada's products in the region. This has led to further
substantial opportunities arising, and we expect to be able to make
announcements on the progress of these opportunities in the coming months."
END
Enquiries:
mirada plc +44 (0) 207 549 5678
Jose Luis Vazquez, Chief Executive Officer
Bishopsgate Communications +44 (0) 207 562 3350
Nick Rome/Sam Allen
mirada@bishopsgatecommunications.com
Cantor Fitzgerald Europe (Nominated Advisor & Broker) +44 (0) 207 894 7000
Mark Percy (Corporate Finance)
David Banks (Corporate Broking)
Peterhouse Corporate Finance (Joint Broker) +44 (0) 207 469 0937
Jon Levinson
About mirada
mirada creates and manages services for digital TV platforms and broadcasters
which enable consumers to interact with and purchase digital content on
television, mobile, online and bespoke devices. mirada's products and solutions
are used worldwide to deliver interactive TV, Video on Demand, digital
marketing and payment services. Its products and services have been deployed by
some of the biggest names in digital media and broadcasting including Sky,
Virgin Media, BBC, ITV, France Telecom and Telefónica. Headquartered in London,
mirada has commercial offices across Europe and Latin America and operates
technical centres in the UK and Spain. For more information, visit
www.mirada.tv.
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