26 February 2014 mirada plc ("mirada" or "the Company") (AIM: MIRA) Conversion of Loan mirada plc, the AIM-quoted audiovisual interaction specialist, announces that it has received a notice from State Street Nominees Ltd ("State Street") for the conversion of their remaining loan of £100,000 in respect of the £1,500,000 10 per cent. Convertible Secured Loan Stock 2015 (the "Convertible Loan"). It is noted that State Street's interest is controlled by Webb Capital Asset Management Ltd ("Webb Capital"). 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 £100,000 is therefore to be converted into 1,000,000 new ordinary shares of 1 penny each (the "Conversion Shares"), credited as fully paid at 10 pence per share (the "Conversion"). Following the Conversion, Webb Capital will have the following interests in the ordinary shares in the Company: Number of Percentage of shares enlarged issued share capital of Company Webb Capital 3,490,830 4.06% Following this conversion, the Company will have fully completed the repayment of the Convertible Loan. Application has been made to the London Stock Exchange for admission of the 1,000,000 Conversion Shares and Capitalisation Shares to be admitted to trading on AIM. Admission is expected to occur on 3 March 2014. For the purposes of the Disclosure and Transparency Rules, mirada's total issued share capital following the issue of the 1,000,000 New Ordinary Shares consists of 86,057,695 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. José Luis Vazquez, Chief Executive Officer of mirada, commented: "I am very glad to report the conversion of the outstanding balance of the Convertible Loan, which has been fully cancelled during the last year, and further demonstrates strong support from our shareholders to the future of the Company." -END- Enquiries: mirada plc +44 (0) 207 549 5678 Jose Luis Vazquez, Chief Executive Officer Bishopsgate Communications +44 (0) 207 107 1890 Nick Rome/Sam Allen email@example.com Cantor Fitzgerald Europe (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 / Lucy Williams 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- Feb/26/2014 13:51 GMT
MIRADA PLC: Conversion of Loan
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