LONDON (Alliance News) - Audio-visual interaction company Mirada PLC said on Monday it intends to raise GBP3.0 million through a subscription of 300 million shares at 1.0 pence per share by shareholder Kaptungs Ltd.
Shares in Mirada rose 25% at 0.85 pence on Monday.
In addition, Mirada has agreed to repay an outstanding GBP3 million provided by Kaptungs through the issue of another 300 million shares.
The proposals are subject to shareholder approval at Mirada's general meeting on October 4.
Should the proposals be accepted, Kaptungs will be issued 600.0 million shares, meaning it will hold 776.9 million shares in Mirada in total, reflecting an 87% interest.
Mirada currently has 290.8 million shares issued overall.