Mirriad Advertising
MIRI · AIM · Financial Services · mcap £0.4m · 0.0p 3 open situations →
Mirriad uses software to insert virtual brand products and signage into existing TV and streaming content, selling the placements to advertisers through media partners. It earns revenue from partner and agency sales in the US, Europe and the Middle East.
Open · 3
Cash runway and funding
Led to AIM cash shell status – Suspended; accounts overdue; plc in administrationLed to Offer for the company – lapsed, closed 1 May 2025
Funding failed; administrators were appointed over Mirriad Limited on 29 April 2026 and over Mirriad plc on 14 May 2026. On 30 September 2026 the administrators said they are in talks with a third party on a possible investment, after reviewing a sale of IP or an equity fundraise. If completed, it would repay creditors and end the administration. No terms are given and nothing is guaranteed.
- Reason
- Key supplier and employee contracts are held by Mirriad plc, not Mirriad Limited 14 May 2026 ↗
- Best case
- Solvent exit if creditors repaid in full; control returns to the Board 14 May 2026 ↗
- Downside
- Residual value to creditors, then shareholders if funds permit; company dissolved 14 May 2026 ↗
- Share status
- Suspended on AIM; stays suspended after exit until FY25 and H1 2026 results are published 30 Sep 2026 ↗
- Proposed Investment
- Talks with an unnamed third party; terms not disclosed; no guarantee it concludes 30 Sep 2026 ↗
- Options reviewed
- Possible sale of the Company's intellectual property or an equity fundraise 30 Sep 2026 ↗
Next: Conclude Proposed Investment to repay creditors and exit administration
- 30 Sep 2026 In administration; investment talks with third party ongoing
- 14 May 2026 Parent company in administration from 14 May 2026
- 29 Apr 2026 UK subsidiary in administration
- 27 Apr 2026 Funding failed; subsidiaries entering insolvency
AIM cash shell status
Follows from Cash runway and funding – In administration; investment talks with third party ongoingLed to Omar Ahmad campaign – campaign
Shares were suspended on 27 April 2026; the company became an AIM Rule 15 cash shell on 29 April 2026, and the plc entered administration on 14 May 2026. On 30 September 2026 the company confirmed it will miss the AIM deadline for H1 2026 interims, with FY25 accounts also unpublished. Any restoration of trading now depends on a successful investment and publication of both sets of accounts.
- Deadline
- Re-admission transaction within six months of 29 April 2026 14 May 2026 ↗
- Investing company route
- AIM Rule 8: raise at least £6 million and publish an admission document
- Consequence
- Failure leads to suspension under Rule 40, then cancellation after a further six months 14 May 2026 ↗
- Share status
- Remain suspended on AIM 30 Sep 2026 ↗
- Plc status
- Placed into administration on 14 May 2026 14 May 2026 ↗
- Overdue accounts
- FY25 Accounts and H1 2026 Results both unpublished 30 Sep 2026 ↗
Next: Publish FY25 Accounts and H1 2026 Results to seek restoration
- 30 Sep 2026 Suspended; accounts overdue; plc in administration
- 14 May 2026 Shares suspended; plc in administration
- 29 Apr 2026 Cash shell confirmed; shares suspended
- 27 Apr 2026 Suspended; becomes cash shell on administrator appointment
Omar Ahmad campaign
On 28 April 2026 shareholder Omar Ahmad (6.18%) requisitioned a general meeting to remove the three directors and appoint three new ones. On 14 May 2026 the Company was placed into administration, and it says it can no longer convene the meeting. The requisition lapses in practice.
- Requisitioner
- Omar Ahmad, approx. 6.18% of issued ordinary shares, requisition notice 28 April 2026 14 May 2026 ↗
- Resolutions
- Six: remove the three current directors and appoint three new directors
- Timetable
- Board must call meeting within 21 days of notice; meeting held within 28 days of the convening notice
- Board view
- Considering the Notice; recommendation to come in the notice of general meeting; shareholders advised to take no action
- Outcome
- Company can no longer convene the general meeting following administration on 14 May 2026 14 May 2026 ↗
- 28 Apr 2026 campaign
- 24 Apr 2026 6.1795%
Closed · 6
Company filings. Not investment advice.