Increase of loan facility

RNS Number : 1106L

Mirada PLC

28 December 2022

 

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.

28 December 2022 

Mirada plc

("Mirada" or the "Company ")

Increase of loan facility

Mirada (AIM: MIRA), a leading provider of integrated software solutions for digital TV operators, broadcasters and streaming platforms, is pleased to announce that it has increased its loan facility with Leasa Spain, S.L.U. (the "Lender"). The Lender is controlled by Mr Ernesto Luis   Tinajero   Flores who has a beneficial interest in 87.21 per cent. of the Company's issued share capital of the Company. 

On 4 June 2019, Mirada's subsidiary,  Mirada Iberia, S.A.U. ("Mirada Iberia"), obtained a revolving credit facility for up to €1.3 million from the Lender (the "Facility"). On 21 May 2020, the Company announced that it had agreed an extension to the maturity date of the Facility to 30 November 2021. On 27 September 2021 the Company announced that an extension to the maturity date of the Facility had been agreed with a revised expiry date of 30 November 2022 (the "Maturity Date"), an increase of the Facility to €3.0 million and the novation of the Facility from Mirada Iberia to Mirada plc. On 26 September 2022 the Company announced that it had agreed an extension of the Maturity Date of the Facility to 30 November 2023. On 28 October 2022 the Company announced that it had agreed a further increase of the facility to €4,368,258.63 and to capitalise the outstanding interest accrued on the Facility. The Facility is currently drawn up to €4,368,258.63. 

The Lender has now agreed to increase the Facility by a further €700,000.00, thereby increasing the total amount available under the Facility to €5,068,258.63.  All other terms of the Facility remain unchanged and are set out above and in the announcement of 4 June 2019 , including that the Facility is unsecured and bears an interest rate of 8 per cent. per annum on monies that are drawn down.  

The amendment of the Facility is a related party transaction pursuant to rule 13 of the AIM Rules for Companies, due to the Lender being controlled by Mr Ernesto Luis Tinajero Flores who has a beneficial interest in 87.21 per cent. of the Company's issued share capital through his indirect interest in Kaptungs Limited, which holds 7,768,791 ordinary shares of the Company. The Directors of the Company consider, having consulted with the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.

Enquiries:

Mirada plc José-Luis Vázquez, Chief Executive Officer Gonzalo Babío, Finance Director	[phone] [e-mail]
Allenby Capital Limited (Nominated Adviser & Broker) Jeremy Porter/George Payne (Corporate Finance) Joscelin Pinnington (Sales and Corporate Broking)	[phone]
Alma PR (Financial PR Adviser) David Ison Andy Bryant Matthew Young	[phone] [e-mail]

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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