14th Nov 2013 12:57
LONDON (Alliance News) - Audiovisual interaction specialist Mirada PLC Thursday said that it has raised approximately GBP1.1 million, through the placing of more than 12.6 million new shares.
Mirada said that the placing was significantly oversubscribed, and was supported by both existing shareholders and new institutional investors. The shares were priced at 8.75 pence per share.
The group said that the proceeds will be used to finance further growth in Latin America, maintain product investment and seek expansion to other emerging markets.
The audiovisual content interaction firm said it narrowed its losses significantly to GBP240,000 for the 12 months ending March 31, driven by an increase in digital TV sales and expansion outside of the Spanish and UK markets.
The recent placing followed the GBP1 million in funds the company recently raised from a large strategic shareholder.
Mirada shares were down 14.4% Thursday morning, at 9.95 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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