22 March 2013 mirada plc ("mirada" or "the Company") (AIM: MIRA) Conversion of Loan mirada plc, the AIM-quoted audiovisual interaction specialist, today announces that it has received conversion notices totalling £175,000 in respect of its secured 10% convertible loan (the "Convertible Loan"). Under the terms of the Convertible Loan, which was announced on 23 March 2010, the conversion price is equal to a 20% discount to the average closing mid market share price for the 10 business days preceding the date of the conversion notice, subject to a minimum conversion price of 10 pence. The £ 175,000 is therefore to be converted into 1,750,000 new ordinary shares of 1 pence each, credited as fully paid at 10 pence per share (the "Conversion"). Of the Conversion, Baring Iberia II Inversion en Capital, F.C.R ("Baring") will be receiving 1,569,050 new ordinary shares, Javier Casanueva (Non-Executive Director) is a partner of Baring. Following the Conversion, Baring will have an interest in the following ordinary shares in the Company: Number of Number of Percentage of Conversion shares enlarged issued Shares following share capital of Conversion Company Baring 1,569,050 10,104,065 19.46% Following this conversion the outstanding balance owed in relation to the Convertible Loan will equal £975,000. Application has been made to the London Stock Exchange for admission of the 1,750,000 New Ordinary Shares to be issued pursuant to the Conversion to be admitted to trading on AIM. Admission is expected to occur on 28 March 2013. For the purposes of the Disclosure and Transparency Rules, mirada's total issued share capital following the issue of the 1,750,000 New Ordinary Shares consists of 51,927,793 ordinary shares of 1 penny each. The above figure 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, mirada, under the Disclosure and Transparency Rules. Enquiries: mirada plc +44 (0) 207 549 5678 Jose Luis Vazquez, Chief Executive Officer Bishopsgate Communications +44 (0) 207 562 3350 Nick Rome/Sam Allen/ Matt Low email@example.com Seymour Pierce (Nominated Advisor & Broker) +44 (0) 207 894 7000 Mark Percy (Corporate Finance) David Banks (Corporate Broking) Peterhouse Corporate Finance (Joint Broker) +44 (0) 207 469 0937 Jon Levinson About mirada mirada creates and manages services for digital TV platforms and broadcasters which enable consumers to interact with and purchase digital content on television, mobile, online and bespoke devices. mirada's products and solutions are used worldwide to deliver interactive TV, Video on Demand, digital marketing and payment services. Its products and services have been deployed by some of the biggest names in digital media and broadcasting including Sky, Virgin Media, BBC, ITV, France Telecom and Telefónica. Headquartered in London, mirada has commercial offices across Europe and Latin America and operates technical centres in the UK and Spain. For more information, visit www.mirada.tv. END -0- Mar/22/2013 16:04 GMT
MIRADA PLC: Conversion of Loan
Press spacebar to pause and continue. Press esc to stop.