9th May 2025 07:34
Mirriad Advertising PLC - London-based in-content advertising and virtual product placement company - Receives initial feedback from some investors that they may be willing to support a fundraise, further to the company's announcement on May 1 that it may be forced to go into administration this week "in the absence of an immediate injection of capital and in view of the current financial uncertainty". Discussions remain ongoing, though if in the coming days it becomes apparent it will not be possible to raise funds, a wind-down is "highly likely" and trading in Mirriad shares will be suspended.
The Mirriad board is evaluating a range of strategic and operational options to be implemented should a fundraise be successful, including further cost rationalisation. Mirriad notes there are no guarantees for offers of funding, nor for the terms of such offers, and the company will make further announcements "in due course".
Current stock price: 0.034 pence
12-month change: down 97%
By Emily Parsons, Alliance News reporter
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