29th Oct 2015 08:49
LONDON (Alliance News) - Mirada PLC on Thursday proposed a placing and subscription to raise GBP1.5 million, which it will use to strengthen its balance sheet and provide working capital ahead of the roll-out of its product with customer Televisa Group SA planned for next year.
The digital television and broadcasting software and services company will issue 24.5 million shares in the placing, and 468,061 shares in the subscription, at a price of 6 pence each. The shares already have been conditionally placed but the operation needs to be approved by shareholders at a meeting scheduled for November 23.
Shares in Mirada were down 0.1% at 6.24 pence Thursday.
Mirada said its focus remains on the large scale roll-out of its contract with Televisa, a Mexico-based multimedia company and content producer.
"I am delighted with the support of existing shareholders, board members and managers in this placing," said Chief Executive Officer José Luis Vázquez in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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