Last checked at 31 Jul 2019 07:00
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Mirriad Advertising plc
Result of open offer
31 July 2019
Mirriad Advertising plc
("Mirriad" or the "Group")
Result of Open Offer
Mirriad Advertising plc ("Mirriad" or the "Company"), the established computer vision and AI platform company, today announces that it has received valid acceptances and excess applications from Qualifying Shareholders in respect of a total of 8,108,678 Open Offer Shares pursuant to the terms of the Open Offer. This represents approximately 30.9 per cent. of the 26,278,920 Open Offer Shares. The Open Offer closed for acceptances at 11.00 a.m. on 30 July 2019.
As a consequence and conditional on Shareholder approval of the Resolutions at the General Meeting to be held later today and Admission, the Company has raised gross proceeds of approximately £1.22 million through the Open Offer and approximately £15.40 million (before expenses) in aggregate through the Fundraising.
The Company has instructed Numis and Baden Hill to procure subscribers for the shares not taken up in the Open Offer ("Rump Placing"). A further announcement will be made in due course if any further shares are to be issued in connection with the Rump Placing.
This announcement should be read in conjunction with the full text of the circular dated 5 July 2019 (the "Circular"), published in connection with the Fundraising and capitalised terms used but not otherwise defined in this announcement bear the meanings ascribed to them in the Circular.
Applications have been made to the London Stock Exchange for up to 120,816,062 New Ordinary Shares to be admitted to trading on AIM. This comprises (1) 26,666,666 EIS Placing Shares which are expected to be admitted to trading at 8.00 a.m. on 1 August 2019; (2) 75,979,154 General Placing Shares and Open Offer Shares applied for which are expected to be admitted to trading at 8.00 a.m. on 2 August 2019; and (3) up to 18,170,242 New Ordinary Shares to the extent that these shares are placed with investors through the Rump Placing ("Rump Placing Shares"). The New Ordinary Shares will rank pari passu with the existing Ordinary Shares. A further announcement confirming the number of Rump Placing Shares will be published in due course.
The person responsible for releasing this announcement on behalf of the Company is David Dorans, Chief Financial Officer, of the Company.
Enquiries:
For further information please visit www.mirriad.com or contact:
Mirriad Advertising plc
Stephan Beringer, Chief Executive Officer
David Dorans, Chief Financial Officer
Tel: +44 (0)207 884 2530
Numis Securities Limited (Nominated Adviser, Broker and Joint Bookrunner)
Nick Westlake
James Black
Hugo Rubinstein
Tel: +44 (0) 207 260 1200
Baden Hill (a trading name of Northland Capital Partners Limited) (Joint Bookrunner)
Craig Fraser Tel: +44 (0)207 903 7004Matthew Wakefield Tel: +44 (0)207 903 7003
Charlotte Street Partners (Financial Communications)
Andrew Wilson Tel: +44 (0) 7810 636995
Tom Gillingham Tel: +44 (0) 7741 659021