Mirada PLC Sale of Mirada Connect for £2.1m (5760E)
July 05 2019 - 1:00AM
UK Regulatory
TIDMMIRA
RNS Number : 5760E
Mirada PLC
05 July 2019
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 ("MAR"). With the publication of this announcement,
this information is now considered to be in the public domain.
5 July 2019
Mirada plc
("Mirada", the "Company" or the "Group")
Sale of Mirada Connect for GBP2.1m
Mirada plc (AIM: MIRA), a leading provider of integrated
software solutions for digital TV operators and broadcasters, is
pleased to announce that it has sold its payment solutions provider
business, Mirada Connect Limited ("Connect"), for a cash
consideration of GBP2.1 million (before expenses).
Connect was a wholly owned subsidiary of Mirada and provides
cashless payment solutions to car park operators in the UK. Connect
was not a core business of the Group and operated independently of
Mirada's main digital TV business.
Connect has been sold by the Company to PayByPhone UK Limited
(part of Volkswagen Financial Services), a market leading pay by
phone payment operator for parking, pursuant to the terms of a
share sale agreement which, inter alia, contains certain
warranties, indemnities and restrictive covenants given by the
Company. The Company intends to use the net proceeds of the sale of
Connect for general working capital purposes.
In the year ended 31 March 2019, Connect recorded revenue of
GBP633,000 and a profit before tax of GBP122,000 and was valued at
GBP556,000 on the Company's balance sheet at that date.
Enquiries:
Mirada plc +44 (0) 207 868 2104
José Luis Vázquez, Chief Executive investors@mirada.tv
Officer
Gonzalo Babío, Finance Director
Newgate Communications +44 (0) 20 7653 9850
Bob Huxford mirada@newgatecomms.com
Tom Carnegie
Allenby Capital Limited (AIM Nominated
Adviser and Broker)
Jeremy Porter
Liz Kirchner +44 (0) 20 3328 5656
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
almost 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, Telefonica, Sky, Virgin Media, BBC, ITV and France
Telecom. 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.
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END
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