11 August 2025
Mirriad Advertising plc
("Mirriad" or the "Company")
Grant of Options
Mirriad Advertising plc (AIM: MIRI), a leading in-content advertising and virtual product placement company, announces the grant of options over new ordinary shares of £0.00001 each in the Company ("Ordinary Shares"). Options have been granted in respect of a total of 2,167,500,000 new Ordinary Shares to members of staff, representing 12.70 per cent. of the Company's current issued share capital (the "Options").
As announced on 13 May 2025 at the time of completing its fundraise (the "Fundraise"), the Company announced that it intended to make a substantial grant of options to remaining executive board members and UK staff, as a method of incentivising key management personnel and retaining them in a way that also preserved the Company's cash resources. The Company has reduced its total board costs by around £60,000 per month to approximately £20,000 per month since the completion of the Fundraise.
1,589,500,000 of the Options have been granted pursuant to the Mirriad EMI option scheme and 578,000,000 have been granted as unapproved options.
The Options have an exercise price 0.01p (being the issue price of Fundraise), and vest in three equal tranches on the first, second and third anniversary of the date of grant. The Options expire on the business day immediately preceding the tenth anniversary of the date of grant, subject to continued employment.
Grant of Options to directors and related party transaction
850,000,000 and 510,000,000 Options have been granted to Louis Wakefield, CEO, and James Black, Chair, respectively.
Louis Wakefield has agreed to surrender his 240,463 existing options with an exercise price of 3p at the time of grant of the new Options. Following the grant of Options and surrender of existing options, Louis Wakefield and James Black hold total options over 850,000,000 and 510,000,000 new Ordinary Shares respectively.
The grant of Options to Louis Wakefield and James Black is a related party transaction pursuant to rule 13 of the AIM Rules for Companies. Accordingly, JoAnna Foyle and Nic Hellyer, the independent Directors, having consulted with the Company's nominated adviser, consider that the terms of the Option grants to the directors are fair and reasonable insofar as the Company's shareholders are concerned.
The table for notification and public disclosure of transactions by persons discharging managerial responsibilities in accordance with the requirements of the EU Market Abuse Regulation, which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018, is appended below.
For further information please visit www.mirriad.com or contact:
| Mirriad Advertising plc Louis Wakefield, Chief Executive Officer Nic Hellyer, Chief Financial Officer
|
c/o Allenby |
| Allenby Capital Limited (Nominated Adviser and Broker) James Reeve/Lauren Wright (Corporate Finance) Guy McDougall/Matt Butlin (Sales and Corporate Broking)
|
Tel: +44 (0)20 3328 5656
|
Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.
| 1
| Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a)
| Names | 1. Louis Wakefield (CEO) 2. James Black (Chair)
| |||||||||
| 2
| Reason for the notification | ||||||||||
| a)
| Position/status
| As above | |||||||||
| b)
| Initial notification /Amendment
| Initial notification | |||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a)
| Name
| Mirriad Advertising plc | |||||||||
| b)
| LEI | 213800ZKOK9GIME7HE62 | |||||||||
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
| a)
| Description of the financial instrument, type of instrument
| Ordinary Shares of £0.00001 each | |||||||||
| b) | Identification code
| GB00BF52QY14 | |||||||||
| c)
| Nature of the transaction
| Grant of options for Ordinary Shares | |||||||||
| d)
| Price(s) and volume(s) |
| |||||||||
| d)
| Aggregated information - Aggregated volume - Price | N/A | |||||||||
| e)
| Date of the transactions | 08 August 2025 | |||||||||
| f)
| Place of the transaction | Outside of a trading venue | |||||||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated | |
| a)
| Names | Louis Wakefield (CEO) |
| 2
| Reason for the notification | |
| a)
| Position/status
| As above |
| b)
| Initial notification /Amendment
| Initial notification |
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a)
| Name
| Mirriad Advertising plc |
| b)
| LEI | 213800ZKOK9GIME7HE62 |
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a)
| Description of the financial instrument, type of instrument
| Ordinary Shares of £0.00001 each |
| b) | Identification code
| GB00BF52QY14 |
| c)
| Nature of the transaction
| Surrender of options for Ordinary Shares |
| d)
| Price(s) and volume(s) | No. of Options: 240,463 Exercise Price: £0.03
|
| d)
| Aggregated information - Aggregated volume - Price | N/A |
| e)
| Date of the transactions | 08 August 2025 |
| f)
| Place of the transaction | Outside of a trading venue |
About Mirriad
The leader in virtual product placement and in-content advertising, Mirriad's multi-patented and award-winning platform can dynamically insert products and brands into Television, SVOD/AVOD, Music, and Influencer content. Mirriad creates net-new revenue opportunities for content owners with an ad format that virtually integrates brands in entertainment content, drives exceptional performance for advertisers and dramatically improves the viewing experience.
Mirriad currently operates in: EMEA, the US (via a Joint Venture with Rembrand), and India.
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