27 Sep 2021 07:00
The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.
27 September 2021
Mirada plc
("Mirada" or the "Company")
Extension of loan facility
Mirada plc (AIM: MIRA), a leading provider of integrated software solutions for digital TV operators and broadcasters, is pleased to announce that it has increased its loan facility with Leasa Spain, S.L.U. (the "Lender") and extended the maturity date to 30 November 2022.
Mirada's subsidiary, Mirada Iberia, S.A.U. ("Mirada Iberia"), obtained a revolving credit facility for up to €1.3 million from the Lender (the "Facility") on 4 June 2019. On 21 May 2020, the Company announced that it had agreed an extension to the maturity date of the Facility to 30 November 2021 (the "Maturity Date").
The Lender has now agreed to increase the Facility to €3 million and extend the Maturity Date to 30 November 2022. In addition, the Facility has been novated from Mirada Iberia to Mirada plc. All other terms of the Facility remain unchanged and are set out in the announcement of 4 June 2019, including that the Facility is unsecured and bears an interest rate of 8 per cent. per annum on monies that are drawn down. Currently, €1,170,000 is drawn under the Facility.
José-Luis Vázquez, CEO of Mirada, commented:
"We have seen a strong resurgence in new business activity and a substantial increase in our pipeline of opportunities in recent months. This extension grants us significant financial flexibility and provides additional comfort that we can deliver against our ambitious near-term growth plans."
The amendment of the Facility is a related party transaction pursuant to rule 13 of the AIM Rules for Companies, due to the Lender being owned by Mr Ernesto Luis Tinajero Flores who has a beneficial interest in 87.21 per cent. of the Company's issued share capital through his indirect interest in Kaptungs Limited, which holds 7,768,791 ordinary shares of the Company. The Directors of the Company consider, having consulted with the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.
Contacts |
|
|
|
Mirada plc | via Alma PR |
José-Luis Vázquez, Chief Executive Officer |
|
Gonzalo Babío, Finance Director |
|
|
|
Allenby Capital Limited (Nominated Adviser & Broker) | +44 (0)20 3328 5656 |
Jeremy Porter/Liz Kirchner (Corporate Finance) |
|
Jos Pinnington (Sales and Corporate Broking) |
|
|
|
Alma PR (Financial PR Adviser) | +44 (0)20 3405 0205 |
David Ison | mirada@almapr.co.uk |
Andy Bryant |
|
Matthew Young |
|
About Mirada
Mirada is a leading provider of products and services for Digital TV Operators and Broadcasters. Founded in 2000 and led by CEO José Luis Vázquez, the Company prides itself on having spent over 20 years as a pioneer in the Digital TV market. Mirada's core focus is on the ever-growing demand for TV Everywhere for which it offers a complete suite of end-to-end modular products across multiple devices, all with innovative state-of-the-art UI designs. Mirada's products and solutions, acclaimed for unparalleled flexibility and optimal time to market, have been deployed by some of the biggest names in digital media and broadcasting including Televisa, ATN International, Telefonica, Sky, Virgin Media, BBC, ITV, Skytel and France Telecom Orange. Headquartered in London, Mirada has commercial representation across Europe, Latin America and Southeast Asia and operates technology centres in the UK, Spain and Mexico. For more information, visit www.mirada.tv.