MIRA.L Regulatory News (MIRA)

14 November 2013 mirada plc ("mirada" or "the Company") (AIM: MIRA) Oversubscribed placing to raise £1.1 million mirada plc, the AIM-quoted leading audiovisual interaction specialist,announces that it has today raised approximately £1.1 million through a placingof 12,621,688 new ordinary shares of 1 penny each ("New Shares") at a price of8.75 pence each (the "Placing"). The Placing was significantly oversubscribedand has been supported by a combination of existing shareholders and newinstitutional investors. The Placing follows the recent £1 million fundraisingfrom a large strategic shareholder, also at 8.75 pence. The Placing has beenconducted by Daniel Stewart & Company Plc and Peterhouse Corporate FinanceLimited. The proceeds of the Placing will be used to finance further growth in LatinAmerica, maintain product investment and seek expansion to other emergingmarkets. There are over 50 million digital TV subscribers in Latin America andthe directors believe the Company's new subscriber-based licence fee model willenable the Company to continue to earn substantial revenues post the launch ofa customer's digital TV service. The Company currently has four contractsgenerating subscriber-based fees and with the revenues being generated at nomaterial cost to the Company, the margin on such subscriber-based fees isalmost 100%. mirada continued to make good commercial progress during the first half of theyear. The solid growth achieved in the Latin American market in 2012/13, withrevenues more than doubling to £3.2 million, has led to a high level ofrecognition of mirada's products in the region. The Company is now pursuing anumber of major opportunities, such as the previously announced paid-for trialwith a major digital TV operator for mirada's multi-screen product, iris. Thefocus on this trial means that first half revenues are likely to be slightlydown year-on-year but, if successful, the trial would lead to a majorcommercial launch in the first half of the next financial year and a stepchange in group revenues. José Luis Vazquez, Chief Executive Officer of mirada, commented: "I am delighted with the support shown by both existing and new shareholdersthrough their participation in this placing. The net proceeds will provide uswith the necessary funds to enable mirada to increase our sales and technicalteams, allowing us to take advantage of some significant commercialopportunities and achieve our targets in Latin America." Javier Casanueva, Non-Executive Chairman of mirada, commented: "I am very pleased with the level of interest shown in the placing. We have avery able and experienced management team, who are fully focused on a set ofobjectives which should transform the Company over the next 12 months." Application has been made to the London Stock Exchange for admission of the12,621,688 New Shares to be issued pursuant to the Placing to be admitted totrading on AIM. Admission is expected to occur on 19 November 2013. For the purposes of the Disclosure and Transparency Rules, mirada's totalissued share capital following the issue of the 12,621,688 New Shares consistsof 79,128,052 ordinary shares of 1 penny each. The above figure may be used by shareholders as the denominator for thecalculations by which they will determine if they are required to notify theirinterest in, or a change to their interest in, mirada, under the Disclosure andTransparency Rules. END Enquiries: mirada plc +44 (0) 207 549 5678José Luis Vázquez, CEO Cantor Fitzgerald Europe (Nomad and Joint Broker) +44 (0) 207 894 7000Mark Percy (Corporate Finance)David Banks (Corporate Broking) Daniel Stewart & Company Plc (Joint Broker) +44 (0) 207 776 6550Antony Legge/Martin LampshireCiaran Walsh Peterhouse Corporate Finance (Joint Broker) +44 (0) 207 469 0937Jon LevinsonLucy Williams Bishopsgate Communications +44 (0) 207 562 3350Nick Rome/Sam Allenmirada@bishopsgatecommunications.com About mirada mirada creates and manages services for digital TV platforms and broadcasterswhich enable consumers to interact with and purchase digital content ontelevision, mobile, online and bespoke devices. mirada's products and solutionsare used worldwide to deliver interactive TV, Video on Demand, digitalmarketing and payment services. Its products and services have been deployed bysome of the biggest names in digital media and broadcasting including Sky,Virgin Media, BBC, ITV, France Telecom and Telefónica. Headquartered in London,mirada has commercial offices across Europe and Latin America and operatestechnical centres in the UK and Spain. For more information, visitwww.mirada.tv.