Last checked at 24 Apr 2018 10:09
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FOR IMMEDIATE RELEASE
24 April 2018
Mirriad Advertising plc
("Mirriad" or the "Company" and together with its subsidiaries "the Group")
Investment by Jinhua Puhua Tianqin Equity Investment Fund Partnership ("Puhua") in Mirriad Advertising plc
Further to its announcement of 23 January 2018, Mirriad Advertising plc, a video technology company delivering in-video advertising globally, is pleased to announce the completion of an investment by Jinhua Puhua Tianqin Equity Investment Fund Partnership ("Puhua"), a Capital fund established in Jinhua in the People's Republic of China, one of Mirriad's core markets.
Puhua has subscribed for 3,225,806 new ordinary shares at a price of 62 pence per share, the same price at which funds were raised during Mirriad's IPO on 19 December 2017. The investment raises gross proceeds of approximately £2 million for the Company to continue driving the next phase of growth.
Mirriad announced on 26 January 2018 that it has renewed its contract with Youku, a subsidiary of Alibaba, in China and is now able to work with additional broadcasters/partners in the Chinese market. The proceeds will be used to continue the development of Mirriad's business in China, the world's second largest advertising market.
Following the subscription the Company confirms that application has been made to the London Stock Exchange for the admission of 3,225,806 new ordinary shares to trading on AIM. Admission is expected to take place at 8.00am on 1 May 2018.
At this point the Company's issued share capital will increase to 105,122,717 and Puhua will own 3.07% of the Company's issued share capital.
Enquiries:
Mirriad Advertising plc Mark Popkiewicz, Chief Executive Officer David Dorans, Chief Financial Officer
| Tel: +44 (0)207 884 2530 |
Numis Securities Limited (Nominated Adviser & Joint Broker) Nick Westlake (Nomad) Michael Wharton
| Tel: +44 (0) 207 260 1200 |
Financial Public Relations Hudson Sandler LLP Daniel de Belder Bertie Berger | Tel: +44 (0) 20 7796 4133 |
About Mirriad
Mirriad is a video technology company delivering in-video advertising by naturally blending brand advertising into popular entertainment content.
Mirriad creates advertising opportunities within existing video content across multiple shows. Advertisers can reach target audiences in a contextually relevant way without interrupting the viewing experience. The new ad format can be used alone or combined with other media, and is aligned with existing media trading.
Mirriad is headquartered in London, with offices in the leading advertising markets in the world: New York, Mumbai, Shanghai and São Paulo.