Mirriad Advertising PLC Completion of Investment by Jinhua Puhua Tianqin (9215L)
24 April 2018 - 7:09PM
UK Regulatory
TIDMMIRI
RNS Number : 9215L
Mirriad Advertising PLC
24 April 2018
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.
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 GBP2 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 Tel: +44 (0)207 884 2530
Mark Popkiewicz, Chief Executive
Officer
David Dorans, Chief Financial
Officer
Numis Securities Limited Tel: +44 (0) 207 260 1200
(Nominated Adviser & Joint Broker)
Nick Westlake (Nomad)
Michael Wharton
Financial Public Relations Tel: +44 (0) 20 7796 4133
Hudson Sandler LLP
Daniel de Belder
Bertie Berger
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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