Result of Rump Placing

RNS Number : 4558H

Mirriad Advertising PLC

31 July 2019

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.  PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Mirriad Advertising plc

Result of RUMP PLACING

31 July 2019

Mirriad Advertising plc

Result of Rump Placing

Following the announcement earlier today regarding valid acceptances and excess applications from Qualifying Shareholders received under the Open Offer announced by Mirriad Advertising plc ("Mirriad" or the "Company") on 5 July 2019, the Company confirms that Numis and Baden Hill have procured subscribers for 5,339,713 New Ordinary Shares of £0.00001 pence each for which valid acceptances were not received at a price of 15 pence per share, raising additional net proceeds of approximately £0.76m for the Company.

Applications have been made to the London Stock Exchange for 107,985,533 New Ordinary Shares to be admitted to trading on AIM. This comprises (1) 26,666,666 EIS Placing Shares which are expected to be admitted to trading at 8.00 a.m. on 1 August 2019; (2) 75,979,154 General Placing Shares and Open Offer Shares applied for which are expected to be admitted to trading at 8.00 a.m. on 2 August 2019; and (3) 5,339,713 New Ordinary Shares placed with investors through the Rump Placing ("Rump Placing Shares") which are also expected to be admitted to trading at 8.00 a.m. on 2 August 2019. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Following the allotment of the New Ordinary Shares to reflect both the receipt of valid acceptances under the Open Offer and the shares for which the Joint Brokers have procured subscribers, the Company's issued share capital will consist of 213,108,250 ordinary shares of £0.00001 each. The Company does not hold any shares in treasury. Therefore, as at 31 July 2019, the total number of voting rights in the Company is 213,108,250. This figure may be used by Shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change in their interest in, the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

This announcement should be read in conjunction with the full text of the circular dated 5 July 2019 (the "Circular"), published in connection with the Fundraising and capitalised terms used but not otherwise defined in this announcement bear the meanings ascribed to them in the Circular.

The person responsible for releasing this announcement on behalf of the Company is David Dorans, Chief Financial Officer.

About Mirriad

Mirriad is a computer vision and AI-powered platform company, built on Academy Award-winning entertainment tech, with 30 patents and patents pending. Using sophisticated technologies, Mirriad connects people with brands, through seamless ad insertions in popular linear and digital content. Advertisers can now reach very large target audiences in a contextually relevant way without interrupting the viewing experience.

Research has consistently shown in-video advertising to be highly effective for the marketer and preferred by audiences on TV, online, and mobile.

Mirriad is headquartered in London, with offices in New York, Paris, Munich, Mumbai, and Shanghai. 

Enquiries

For further information please visit www.mirriad.com or contact:

Mirriad Advertising plc

Stephan Beringer, Chief Executive Officer

David Dorans, Chief Financial Officer              

Tel: [phone]

Numis Securities Limited (Nominated Adviser & Broker)

Nick Westlake                   

James Black          

Hugo Rubinstein

Tel: [phone]

Financial Communications:

Charlotte Street Partners  

Andrew Wilson Tel: [phone]

Tom Gillingham Tel: [phone]

 

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