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LONDON - Mirriad Advertising plc (AIM:LON:MIRI), a company specializing in virtual in-content advertising, has conditionally raised £1.5 million in a new share placing, the firm announced today. The capital was raised through the placing of 15 billion new ordinary shares at a price of 0.01 pence each by Allenby Capital Limited.
The placing, which was part of an accelerated bookbuild process announced on Sunday, saw both existing and new investors participate. The new shares are expected to be admitted to trading on the AIM market of the London Stock Exchange (LON:LSEG) on or around June 4, 2025, subject to shareholder approval of the necessary resolutions at a General Meeting scheduled for June 2, 2025.
In conjunction with the placing, Mirriad also launched a retail offer through the Winterflood Retail Access Platform (WRAP) on Wednesday, aiming to raise up to an additional £200,000 before expenses. This offer, which allows existing shareholders to purchase up to 2 billion new ordinary shares at the same issue price, will close by 4:30 p.m. on Thursday.
The funds from the placing and the retail offer are intended for general working capital purposes. The retail offer, like the placing, is contingent upon shareholder approval at the upcoming General Meeting.
The shares issued will rank equally with the existing ordinary shares, including rights to dividends and other distributions declared after their issue.
This announcement, based on a press release statement, highlights a key development for Mirriad Advertising as it secures new funding to support its operations.
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