Member Info for LOTM-13

Sorry Everyone,

What I should also have included in my last post was the message I was conveying to them during that conversation.

That the company is totally disconnected from private investors, it has not engaged with them in any way, let alone in a meaningful way for 6 months plus. Now it has alienated & angered the vast majority of its existing private investors, with the price & size of the placing & any trust that had existed previously has now been totally destroyed.

All because Mirriad hasn't taken them on the journey with them, by not explaining clearly how the pieces of the jigsaw fit together, like the various pieces of Programmatic from the Content providers side of things to the Sales side which is meant to be the last missing piece of the puzzle. That then take you from "Manual" mode to effectively automatic mode.

The total lack of key financial information in the placing document like the End of March cash balance or Q1 sales Revenue & especially the lack of a projected break-even target date (by quarter in 2025) as realistic future guidance of how long funding will be required for.

That the £2.8M number was a big & meaningless mistake. It was given without context no notes as to how it was arrived at. Has only confused investors & many think that is going to be the max revenue number for the year, when in fact new ad campaigns can be run at short notice & some revenue not in that number could indeed still occur in Q2 , never mind Q3 & 4.

The information that should have come out earlier around C4, Sky & the other 32% of USA content providers.

Lastly the terrible timing of it with Upfronts24 due next week.

LOTM

Just to give everyone a brief update :-

I finally had a fairly lengthy conversation on Thursday with one of the directors. They heard my message, I'm not sure what the full board will have made of it, but it will have given them more context to the lengthy list of questions they have received from me in a number of emails & they know I want the answers to go to all shareholders.

During that conversation something was inadvertently said in one sentence & on my own reflection, I believe that it might be considered (& I emphasis might) so as a precautionary measure I will be refraining from buying/selling Mirriad shares until the GM where it should come to light ( or soon should it come into the public domain before then).

I have had one response from Allenby Capital to date & the purpose of that in my view is try to distance themselves from the matter before I'd even sent in a much more formal email. I then sent them a much more detailed email to which I have yet to receive a reply.

I'd like to say a bit more, but I don't think that is the right approach for now.

I am pressing on with all the things that need to be done ahead of 23rd May, against many headwinds that are in the way. If there is anything substantive to report I will do so, but it should be to everyone in RNS's.

If you've not already emailed the company then I suggest you do so, & also start to contact your broker ahead of the 23rd to say you want to either attend the meeting in person & want your shareholding available to vote when there or that your going to be submitting a proxy vote.

LOTM

Hi 2phevs,

Personally I don't believe a takeover at this stage would be in the interests of shareholders (unless it was with another small company & we were able to maintain good upside potential in the enlarged company). A takeover by a much larger player would result in an offer of what 3p (or what sort of figure do you have in mind?) compared to potentially something much greater than that in 2 or 3 years time.

From that perspective I'm happy to sit & wait (& add where & when I can).

I was informed the CEO was in the USA late on Wednesday afternoon, when I finally received my one & only email to date from the company. I didn't say anything at the time because there was no context to it & it might have been to finalise another deal or for Upfronts24 business etc. I felt it was best to just leave it unsaid.

LOTM

Hi Stampee1,

I can't answer that you'd need to ask the company.

Its not highlighting a Content provider, its highlighting a specific campaign for an advertiser in this case Martell & at least this time round it actually states when it took place (March 2024).

Its also highlighting this form of advertisement to the Alcoholic drinks industry & the short time frame required to run a summer campaign if they wanted to do that.

So if they were to put it in an RNS or such like they'd just be showing new areas that are starting to be adopt the VPP market.

LOTM

Https://blog.mirriad.com/virtual-product-placement-for-alcohol-brands

LOTM

Just so that everyone knows.

It has taken literally 3 days for both Mirriad & Allenby Capital to even reply to my emails nevermind start to answer the questions within them.

Who knows how long that's going to take & I have asked for the answers to be released via an RNS so that all shareholders are equally informed.

LOTM

Hi saxman303,

You need to get that email in then.

I think there could be quite a few people at the said meeting ......................

LOTM

Hi LovableTB,

Moaning from the sidelines yet again, but won't do anything to help sort out the mess.

Your just sticking to your narrative, that they couldn't do any better, yet the statement yesterday clearly shows they botched the placing from start to finish - didn't even talk to at least one for there institutional shareholders.

2phevs,

"Great fun working on this" - I'm not sure, he'll be saying the same thing in a few days time.

Allenby Capital are digging themselves a great big hole, they haven't responded to me since Friday when my first email went in. Dereliction of duty as a Nomad is on the horizon.

I've only just recently received an email from Mirriad acknowledging recent of my various emails after 3 days of waiting.

LOTM

Hi saxman303,

Did you send in an email to the company ?

LOTM

Hi falva,

Did you & the 8 people recommending your post actually read the RNS ?

If you did, then you'd know the Doctor actually bought some of the shares early yesterday morning ahead of signing the form & sending it into the company, for them to then release it as an RNS.

I'm pretty sure he's still going to be buying more shares at the right price, I'm guessing his next target will be 350M shares "when the price is right" for him.

LOTM

Hi wilks8,

You bailed out today ? & the shares ex dividend on 16th May next thursday for $0.85, that seems madness to me as the share price never tends to drop as much as the dividend is in £'s.

Good Luck with where you decide to go with the cash then.

LOTM

Oh my goodness the OCN announcement doesn't even mention the Wilson & Sons dividend, let alone OCN going to make a dividend payment.

So are they going to introduce a half yearly payment later or are they simply going to pocket the rough $0.25 per share payout & add it to the investment fund (or put it in the bank) to try & enhance the investment performance over the year.

LOTM

Financial results were good especially from the container terminals.

April's container terminal numbers are fabulous especially at RG. If it continues along those lines then its going to be a bumper quarter & Terminal utilisations are going to jump considerable. That in turn will lead to even better results in cash terms for the terminals because of the amount of fixed costs that are now being spread across so many containers.

Good times ahead I'd say.

The big questions for the morning is whether Ocean Wilson is going to move to quarterly Dividend payments as well.

GLA

LOTM

Wow looks like Wilson & Sons are moving to quarterly dividends as I suggested they might & the Q1 one is a biggie!

Shareholders will receive Dividends in the total amount of R$0.17273618 per common share issued by the Company ("Shares"), which is equivalent to R$76,002,001.83 on this date

Still waiting to see the actual quarterly numbers but this suggests they might be even better than I was expecting.

LOTM

This is the key part of that announcement

"The Retail Offer included a £200,000 order from an existing institutional Shareholder that did not participate in the Placing."

Contrary to what Allenby Capital & Mirriad would like you to believe, the above statement proves that the attempted placing was an absolute shambles.

In there botched haste to get it organised they didn't even contact at least one of there institutional shareholders to see if they would participate in a fund raise. Therefore they didn't try to create overwhelming support for it in advance & thus strengthen the share price at which the placing could & should have been done at. Remember last year's placing occurred at a 4.8% discount & this years at a 43% discount.

Allenby Capital's earlier claim that the placing was fair & reasonable to existing shareholders is now completely blown out of the water by this.

This is just becoming a bigger & bigger mess.

I very much doubt either Mirriad or Allenby Capital looked at other possible ways of funding the company (other than possibly a minor glance to make it appear that they did).

They'll be some more emails going in, in the morning now.

LOTM

Hi stampee1 & Buydipsellrepeat for doing that

LOTM

LovableTB

You have roughly 0.1% currently, which is what matters.

But if you don't want to join in that's your choice, just because you didn't get somewhere it doesn't mean WE won't get somewhere.

At least we will have tired to do something rather than just give up like you are doing, which is exactly what they want.

LOTM

Hi LovableTB,

I provided a template to help save time & said to edit it as you see fit, for what suits you.

The important point is to get it done & sent in.

Or are you simply going to do nothing other than vent here?

LOTM

Hi Mozax,

You think the horse has bolted I don't.

The shares that they can still issue without needing our agreement 53.71M we can do nothing about & that sadly will go through.

I believe there are several other funding options available that do not cause the dilution there trying to inflict upon us.

I'm trying to explore some of them, but really need others to also stand-up & be counted & I'm hoping your one of them & that you'll send an email in.

LOTM

So Stampee1 get off your butt & do something about it.

Your not being asked to do much at the moment to help out.

Or are you just going to vent here & not actually do anything about it ?

LOTM