TIDMMIRI
RNS Number : 7539I
Mirriad Advertising PLC
15 December 2020
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.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
15 December 2020
Mirriad Advertising plc
Result of General Meeting and Open Offer
Mirriad Advertising plc ("Mirriad" or the "Company"), the
computer vision, technology and AI platform company, published and
posted a shareholder circular on 27 November 2020 (the "Circular"),
including a notice of general meeting ("General Meeting") in
connection with the proposed Placing and Open Offer.
The Company is pleased to announce that at the General Meeting
held earlier today at 11.00 a.m. (UK) all Resolutions were duly
passed on a show of hands. The proxy votes received from
Shareholders on each Resolution were as follows:
For Against Withheld
Ordinary Resolution Votes % Votes %
-------------- -------- --------- ------- ---------
To authorise the
directors to allot
ordinary shares 139,649,359 100 0 0 3,785
-------------- -------- --------- ------- ---------
Special Resolution
-------------- -------- --------- ------- ---------
To disapply Section
561 of the Companies
Act 2006 139,631,095 99.98 18,264 0.01 3,785
-------------- -------- --------- ------- ---------
The number of Ordinary Shares in issue on 15 December 2020 was
213,361,826. Shareholders were entitled to one vote per share.
Accordingly, the Placing and the Open Offer are expected to
complete, conditional on each Admission, at 8.00 a.m. on 16
December 2020 (or such later time and/or date as Canaccord Genuity
and Baden Hill may agree, but in any event by no later than 8.00
a.m. on 30 December 2020) for the EIS/VCT Placing Shares and at
8.00 a.m. on 17 December 2020 for the General Placing Shares and
the Open Offer Shares (or such later time and/or date as Canaccord
Genuity and Baden Hill may agree, but in any event by no later than
8.00 a.m. on 31 December 2020).
Result of the Open Offer
The Open Offer closed for acceptances at 11:00 a.m. on 14
December 2020 in accordance with its terms and was oversubscribed.
The Company has received valid acceptances and excess applications
from Qualifying Shareholders in respect of all the available Open
Offer Shares pursuant to the terms of the Open Offer.
As a consequence, the Company has raised gross proceeds of
approximately GBP3 million through the Open Offer and approximately
GBP26 million (before expenses) in aggregate through the
Fundraising.
This announcement should be read in conjunction with the full
text of the Circular and capitalised terms used but not otherwise
defined in this announcement bear the meanings ascribed to them in
the Circular.
Issue of Equity, Admissions and Total Voting Rights
Applications have been made to the London Stock Exchange for the
65,220,065 New Ordinary Shares to be admitted to trading on AIM.
This comprises of 6,350,000 EIS/ VCT Placing Shares, which are
expected to be admitted to trading at 8.00 a.m. on 16 December
2020, and 51,250,000 General Placing Shares and 7,620,065 Open
Offer Shares. which are together expected to be admitted to trading
at 8.00 a.m. on 17 December 2020. The New Ordinary Shares will rank
pari passu with the existing Ordinary Shares.
Following the General Admission on 17 December 2020 , the issued
share capital of the Company will consist of 278,581,891 Ordinary
Shares, with one voting right each. The Company does not hold any
shares in treasury. Therefore, the figure of 278,581,891 Ordinary
Shares may be used by Shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company under the FCA's Disclosure Guidance
and Transparency Rules.
Interests of the Concert Party
Following the result of the Open Offer, the interests of each of
the members of the Concert Party in the issued ordinary share
capital of the Company and the existence of which is known to, or
could with reasonable due diligence be ascertained by, any Director
following General Admission are as follows:
Percentage
Number of of existing Percentage
Existing issued Ordinary of Share
Ordinary share Shares (following Capital (following
Shares capital General Admission) General Admission)
IP2IPO Portfolio L.P.
(acting by its general
partner IP2IPO Portfolio(GP)
Limited)(1) 34,493,301 16.17 34,493,301 12.38
Parkwalk Advisors Ltd 31,814,133 14.91 35,977,908 12.91
Dr Mark Alexander Reilly(2) 66,666 0.03 66,666 0.02
Alastair Hugh Lowell
Kilgour(3) 566,668 0.27 591,668 0.21
Total 66,940,768 31.37 71,129,543 25.53
1. Includes 99,731 Ordinary Shares held by four directors of IP
Group plc and one director of IP2IPO Portfolio (GP) Limited.
2. Of which 33,333 Ordinary Shares are held indirectly.
3. Held indirectly.
Canaccord Genuity acted as Nominated Adviser, Sole Broker and
Bookrunner in relation to the Placing, with Baden Hill acting as
Co-manager.
The person responsible for the release of this announcement on
behalf of the Company is David Dorans, Chief Financial Officer
For further information please visit www.mirriadplc.com or
contact:
Mirriad Advertising plc.
Stephan Beringer, Chief Executive Tel: +44 (0)207 884 2530
Officer
David Dorans, Chief Financial
Officer
Nominated Adviser, Sole Broker & Bookrunner: Canaccord
Genuity Limited
Simon Bridges Tel: +44 (0)20 7523 8000
Richard Andrews
Thomas Diehl
Co-manager: Baden Hill (a trading name of Northland Capital
Partners Limited)
Craig Fraser Tel: +44 (0)207 903 7004
Matthew Wakefield Tel: +44 (0)207 903 7003
Financial Communications: Charlotte Street Partners
Tom Gillingham Tel: +44 (0) 7741 659021
Katie Stanton Tel: +44 (0) 7789 204508
About Mirriad
Mirriad's award-winning solution unleashes new revenue for
content producers and distributors by creating new advertising
inventory in content. Our patented, AI and computer vision
technology dynamically inserts products and innovative signage
formats after content is produced. Mirriad's market-first solution
seamlessly integrates with existing subscription and advertising
models, and dramatically improves the viewer experience by limiting
commercial interruptions.
Mirriad currently operates in the US, Europe and China.
The notifications below are made in accordance with the
requirements of the Market Abuse Regulation (596/2014).
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephan Beringer
------------------------ ----------------------------------------
2 Reason for the notification
------------------------------------------------------------------
a) Position / status Chief Executive Officer (PDMR)
------------------------ ----------------------------------------
b) Initial notification Initial
/ amendment
------------------------ ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------ ----------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------ ----------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------
a) Description of Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------ ----------------------------------------
b) Nature of the Purchase of 25,000 Ordinary Shares, via
transaction the Placing
------------------------ ----------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 40p 25,000
==========
------------------------ ----------------------------------------
d) Aggregated information
- Aggregated 25,000
volume
- Price 40p
Total: GBP10,000
------------------------ ----------------------------------------
e) Date of the transaction 15 December 2020
------------------------ ----------------------------------------
f) Place of the London Stock Exchange, AIM Market
transaction
------------------------ ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Pearson
------------------------ ----------------------------------------
2 Reason for the notification
------------------------------------------------------------------
a) Position / status Non-executive Chairman (PDMR)
------------------------ ----------------------------------------
b) Initial notification Initial
/ amendment
------------------------ ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------ ----------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------ ----------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------
a) Description of Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------ ----------------------------------------
b) Nature of the Purchase of 25,000 Ordinary Shares, via
transaction the Placing
------------------------ ----------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 40p 25,000
==========
------------------------ ----------------------------------------
d) Aggregated information
- Aggregated 25,000
volume
- Price 40p
Total: GBP10,000
------------------------ ----------------------------------------
e) Date of the transaction 15 December 2020
------------------------ ----------------------------------------
f) Place of the London Stock Exchange, AIM Market
transaction
------------------------ ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Bob Head
------------------------ ------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position / status Independent Non-Executive Director (PDMR)
------------------------ ------------------------------------------
b) Initial notification Initial
/ amendment
------------------------ ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------ ------------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------ ------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
--------------------------------------------------------------------
a) Description of Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------ ------------------------------------------
b) Nature of the Purchase of 50,000 Ordinary Shares, via
transaction the Placing
------------------------ ------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 40p 50,000
==========
------------------------ ------------------------------------------
d) Aggregated information
- Aggregated 50,000
volume
- Price 40p
Total: GBP20,000
------------------------ ------------------------------------------
e) Date of the transaction 15 December 2020
------------------------ ------------------------------------------
f) Place of the London Stock Exchange, AIM Market
transaction
------------------------ ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name David Dorans
------------------------ ---------------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position / status Chief Financial Officer (PDMR)
------------------------ ---------------------------------------
b) Initial notification Initial
/ amendment
------------------------ ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------ ---------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------ ---------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-----------------------------------------------------------------
a) Description of Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------ ---------------------------------------
b) Nature of the Purchase of 2,500 Ordinary Shares, via
transaction the Placing
------------------------ ---------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 40p 2,500
==========
------------------------ ---------------------------------------
d) Aggregated information
- Aggregated 2,500
volume
- Price 40p
Total: GBP1000
------------------------ ---------------------------------------
e) Date of the transaction 15 December 2020
------------------------ ---------------------------------------
f) Place of the London Stock Exchange, AIM Market
transaction
------------------------ ---------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alastair Hugh Lowell Kilgour
------------------------ ----------------------------------------
2 Reason for the notification
------------------------------------------------------------------
a) Position / status Non-Executive Director (PDMR)
------------------------ ----------------------------------------
b) Initial notification Initial
/ amendment
------------------------ ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------ ----------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------ ----------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------
a) Description of Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------ ----------------------------------------
b) Nature of the Purchase of 25,000 Ordinary Shares, via
transaction the Placing
------------------------ ----------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 40p 25,000
==========
------------------------ ----------------------------------------
d) Aggregated information
- Aggregated 25,000
volume
- Price 40p
Total: GBP10,000
------------------------ ----------------------------------------
e) Date of the transaction 15 December 2020
------------------------ ----------------------------------------
f) Place of the London Stock Exchange, AIM Market
transaction
------------------------ ----------------------------------------
ENDS
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