Mirada Share Discussion Threads

[rambutan2] 08/1/2013 15:13

Must be with Cablecom. We still await the hoped for Navi/Ericsson second contract. Revenue building nicely...

mirada plc, the AIM-quoted leading audiovisual content interaction specialist, is pleased to announce another contract win continuing the Company's planned expansion into Latin America.

The contract, which will contribute in excess of US$400,000 in revenue during this calendar year, is for the provision of mirada's remote recording solution. The customer is a multi-national telecommunications operator with an extensive presence throughout Latin America, and this will be the customer's second territory in the region which will be using mirada's solution.

As part of the contract mirada will provide its remote recording functionality to one of the operator's digital TV platforms, including the integration of the content recommendation and search engines. It is anticipated that the commercial launch will take place in the first quarter of 2013. Under the terms of the contract mirada will also provide support and maintenance services to the managed solution hosted in the Cloud for an initial period of 12 months after launch.

mirada's remote recording solution is part of its iris product and allows users to control their digital TV settings remotely from a smartphone, tablet or an internet-connected computer wherever and whenever they like.

José Luis Vázquez, Chief Executive Officer of mirada commented:

"This new contract shows the confidence that our customer has in mirada arising from the strong performance of our remote recording solution in its first deployment in the region. It also demonstrates that mirada's products provide added value to the customer through the deployment of innovative multi-screen solutions like iris.

As previously stated, we wish to continue expanding our activities throughout Latin America, a key growth market for mirada. To date, our work here has been extremely successful in cementing our product offering and we are confident that the region will play a key role in our future success."

[davidlloyd] 08/1/2013 09:26

Ditto
DL

[davidlloyd] 17/12/2012 11:05

Nice win
DL

[rambutan2] 17/12/2012 09:26

Said part of interims. I assume today's contract is talking about the iris product ie the second para below, so hopefully something still to come via navi/Ericsson at some stage...

During the period under review, mirada has being working hard on deploying a
second Digital TV platform with navi, and we expect to announce its commercial
launch very shortly. This customer is based in Mexico, reinforcing our presence
in the region. Additionally, mirada and Ericsson are participating in a number
of new negotiations, mostly in Latin America and Eastern Europe, which we hope
will lead to further new contracts in the present fiscal year.

iris is our "TV everywhere" multi-screen product mainly addressed to the cable
television market. Our first iris customer, Cablecom, launched its HD (High
Definition) service in July this year, and has started signing up new
subscribers which has led to additional licence fees being earned by mirada.
The iris product has been received very well by the market and mirada is
currently in negotiations to sell the technology to other customers, mainly in
Latin America, and we expect to announce an important new customer by the end
of 2012.

[rambutan2] 17/12/2012 09:18

Nice win, and as promised in last months interims...

Contract win

mirada plc, the AIM-quoted leading audiovisual content interaction specialist, is pleased to announce a new contract with a leading broadband and telephony operator in Latin America, which is launching a new digital satellite service in the second half of 2013. The contract is expected to be worth in excess of US$2.0 million in revenue over the next two years to the Company.

mirada will provide the browser-based Electronic Programme Guide (EPG) for the service, in partnership with leading conditional access and set-top box vendors in the industry.

The contract is structured so that mirada earn set-up fees plus licence fees dependent on the number of subscribers signing up to the service, in addition there will be annual support and maintenance fees once the service is launched.

Jose Luis Vazquez, Chief Executive Officer of mirada commented:

"This significant new agreement helps to demonstrate that mirada's investment in its product-based strategy is working and the licence fees to be earned once the service is launched will contribute to our future earnings long after the project has been completed. It also re-enforces our presence in the fast growing Latin American market."

[davidlloyd] 19/11/2012 09:29

I think it might......

:-)

DL

[rambutan2] 16/11/2012 02:12

Interesting that since that 295k dump at 8.125p on 13th, the bid/offer has remained at 10-12.5p, and there have been a few big buys all just below the offer at 12.45p, and totalling (I reckon) a bit more than 295k.

This week's trades are the only ones of any size ie more than a few thousand, that I've noticed in over a year.

It might mean something, or it might not!

Of historic interest:


4. TERMS OF THE ACQUISITION AND REASONS FOR THE ACQUISITION
Under the terms of the Acquisition Agreement, as amended by the Supplemental Agreements, the Company has conditionally agreed to acquire the entire issued and to be issued share capital of Fresh and the Vendors have agreed to sell to the Company such Fresh Shares as are then registered in their names following completion of the exercise of the Kasei Share Option. Under the terms of the Undertaking, Kasei has undertaken to the Company: (i) to sell to the Company the Fresh Shares to be transferred to it on completion of the exercise of the Kasei Share Option in consideration for the allotment and issue to it of certain of the Consideration Shares; and (ii) prior to Completion, to enter into a deed of adherence to adhere to the Acquisition Agreement. Baring has agreed to make the Baring Investment pursuant to a letter dated 4 December 2007 addressed to Fresh Inversiones and the Company. It is a condition of the Acquisition Agreement that following completion of the Baring Investment and prior to Completion, Baring will also enter into a deed of adherence to adhere to the Acquisition Agreement.

In accordance with the terms of the Acquisition Agreement, as amended by the Supplemental Agreements, and conditional on, inter alia, completion of the exercise of the Kasei Share Option, completion of the Baring Investment and the entry by each of Kasei and Baring into deeds of adherence to the Acquisition Agreement, the Company will, conditional on Admission, allot and issue the Consideration Shares to the following persons, who, immediately following completion of the exercise of the Kasei Share Option and the Baring Investment, will be the registered holders of the following percentages of issued Fresh Shares:

Name: % of issued Fresh Shares / No. of consideration shares
Fresh Inversiones 19.10% / 1,180,242
José Gozalbo Sidro 0.92% / 57,005
Goboal Asociados S.L. 0.55% / 34,198
Jaime Vallori Amorós 0.46% / 28,491
Baring 63.10% / 3,899,830
Kasei 15.87% / 980,670
Total 100% / 6,180,436


At the Fresh EGM certain resolutions were duly passed to amend the by-laws of Fresh and to remove the existing pre-emption rights on any transfer of shares in Fresh and to enable the Baring Investment to take place. On 20 December 2007, a previous minority shareholder in Fresh sold its entire holding of Fresh Shares to the Warrantor and the terms of the Kasei Share Option were amended to include this minority holding. Accordingly on 31 January 2008, the Company entered into the second of the Supplemental Agreements pursuant to which the Acquisition Agreement was amended so that it is in respect of the conditional acquisition by the Company of the entire issued and to be issued share capital of Fresh.

Further details regarding the terms of the Acquisition Agreement and the Supplemental Agreements are set out in paragraph 4 of Part VI of this document.
On Completion, the shareholders of Fresh immediately prior to Completion would receive as consideration 6,180,436 New Ordinary Shares, being in aggregate 31.16 per cent. of the Enlarged Share Capital.

Authority for the Directors to allot the Consideration Shares pursuant to the terms of the Acquisition Agreement (as amended by the Supplemental Agreements) will be sought by the proposal of Resolutions 5 and 7 at the EGM.

The Acquisition and the consequent formation of the Enlarged Group will enable the Company's operating business to gain access to the markets which Fresh currently targets and in which the Company has no presence, and vice-versa, and will, in the opinion of the Directors, result in a significantly enhanced portfolio of products and services which will be offered internationally in the Enlarged Group's target market sectors in order to increase revenues and cashflow.

In addition, the accompanying investment into the Enlarged Group will both address the Enlarged Group's balance sheet requirements and provide working capital for the Enlarged Group.

In the Directors' opinion, the Enlarged Group will be one of the leading independent businesses of its type operating in Europe in its sector and the Directors believe that the combined skills and size of the business will allow rapid development of new products as well as increased volume of sales from existing products.

5. THE PLACING
As part of the Proposals the Company is proposing to raise £8.42 million (before expenses) pursuant to the Placing by the allotment and issue of 7,682,790 Placing Shares at the Placing Price per share. The Directors have examined a number of suitable fund-raising opportunities for the Company and believe that the Placing is the most suitable opportunity available to the Company and that the Placing is in the best interests of Shareholders as a whole.

Under the Placing, Kasei (which following completion of the exercise of the Kasei Share Option will be the holder of certain Fresh Shares and will therefore receive 980,670 of the Consideration Shares) has conditionally agreed to subscribe for 7,637,178 Placing Shares at the Placing Price per share, making a total subscription from Kasei of £8,371,875.

Immediately following Admission, Kasei's aggregate shareholding (including the Consideration Shares which it is due to receive as part of the Acquisition) would therefore be 8,617,848 New Ordinary Shares representing 43.44 per cent. of the Enlarged Share Capital. The balance of the Placing Shares are being subscribed for by an institutional investor.

The Placing Shares being placed pursuant to the Placing will represent 38.73 per cent. of the Enlarged Share Capital. On Admission, at the Placing Price, the Company will have a market capitalisation of approximately £21.746 million. The Placing Shares will rank pari passu with the New Ordinary Shares including the right to all dividends and other distributions declared, paid or made after the date of issue.

[rambutan2] 14/11/2012 01:11

Hi callum and dodge. Yes, no arguing that this is a high risk play. But if the tide has turned and management is canny, then it could be v cheap. In these situations my aim is to try not to pay more than the last placing price. However, there's no doubt that you are effectively being a VC investor and likely locking your money into the situation for the long term, whatever that brings ie a multiple or a de minimus.

Callum, i think the mms will go bigger than 3k if you ask nicely.

[rambutan2] 14/11/2012 00:55

Re that weak balance sheet...

Director's shareholding and capitalisation of certain liabilities

mirada plc, the AIM-quoted audiovisual interaction specialist, is pleased to
announce that it has entered into agreement with all of the convertible loan
note holders to capitalise the outstanding interest accrued on the secured 10%
convertible loan note ("Convertible Loan") into new ordinary shares in mirada.

In March 2010 and February 2011, mirada issued, in aggregate, a total of GBP1.42
million Convertible Loan to, inter alia, certain shareholders representing the
interest of certain directors and or substantial shareholders; being Naropa
Cartera S.L.U ("Naropa"), Asesoria Digital S.L. ("Asesoria") and Baring Iberia
II Inversion en Capital, F.C.R ("Baring"). Under the terms of the Convertible
Loan, interest is due of 10%, payable quarterly, which since issue has been
accrued by the Company. Agreement has now been reached with the Convertible
Loan holders to capitalise interest payable to 31 March 2013 under the
Convertible Loan of some GBP412,339.58 at 11.75p per share, being the closing
mid-market price of the mirada shares on 9 November 2012, to 3,509,273 new
ordinary shares of 1 penny each in the Company ("New Ordinary Shares") (the
"Capitalisation").

The Board believes that the Capitalisation will help strengthen the Company's
balance sheet and, following the Company's improved financial performance as
set out in the interim results to 30 September 2012 announced on 1 November,
demonstrates continued support in mirada from the Convertible Loan holders.

[dodge city] 13/11/2012 11:22

No liquidity here, if you buy you'll be stuck with them, unless you want to sell at a loss.

Unfortunately the reputation of this company is tarnished by association and will be difficult to clear.

[callumross] 13/11/2012 11:01

Been looking at this one for a while Rambutan but a big sell today of 300k shares at a touch over 8p, miles below the bid price has certainly put me off for a while as inevitably the price will drift down to around this level. Also MM's only quoting in 3k shares.

[rambutan2] 09/11/2012 01:33

mirada plc, the AIM quoted leading audiovisual content interaction specialist,
announces its unaudited interim results for the six months to 30 September
2012.

Operational Highlights

* mirada has reached profitability for the first time in its history

* Successful transition from a professional services based company to a
product based model

* Significant investment made in iris, a "TV everywhere", multi-screen
product mainly addressed to the cable television market, and navi, a
content navigation tool for the IPTV market

* Several major customers have led to the generation of substantial,
recurrent licence fee revenue

* GVT has gained more than 200,000 new subscribers and it has become the
fastest growing Digital TV operator in the Brazilian market

* Additionally, mirada and Ericsson are participating in a number of new
negotiations, mostly in Latin America and Eastern Europe, which it is hoped
will lead to further new contracts in the present fiscal year

* First iris customer, Cablecom, launched its HD (High Definition) service in
July

José Luis Vázquez, Chief Executive Officer of mirada, said:

"The first six months of this financial year has seen the start of the return
on the investment made in our product development strategy. The recurrent
revenues generated from licence fees based on the growth of our customers,
especially in the Latin American market, have helped the Group to make the
transition to profitability. The Group has been able to make this transition in
the current adverse economic environment through a strong belief in the
benefits of the new business model and thanks to the expansion into growing
international markets."



Of historic interest:
Mirada searches for new shareholders
| 09-11-2008
Spanish-originated interactive technology provider Mirada (formerly named Fresh-IT and now merged with the UK's YooMedia) is looking for fresh funds, battered by a plummeting stock market valuation.

Mirada's executives will travel to Spain this present week in order to introduce the company to financial analysts and investors so trusting new shareholders will put money into it. Mirada's valuation on the AIM list of small companies on the London Stock Exchange has dropped 95% over the last year. The company's value is over £5 million although the merger with Yoomedia meant Fresh-IT had to give £12 million and stakes to US funds in exchange for £5.21 million in debt.

The company has gone through capital movements since a group of investors, among them Spanish family Fernández Fermoselle (former housing company Parquesol), Rafael Martín Sanz (manufacturer for broadcasting Avanzit's former president) and financial bank Baring Private Equity Partners España have taken control of Mirada.

Spanish shareholders in the company account for 70% and have placed José Luis Vázquez as CEO. He was the creator of Fresh-IT and its CEO before joining forces with Yoomedia and owns 6% of the company. Fernández Fermoselle owns 19.24%, Baring 19.7% and a company from Martín Sanz y Serafín González Morcillo gathers 24.2% of its capital.

José Luis Vázquez states it is likely the US funds Highbridge and Platinum, both amounting to 24% of the company's capital, could very well sell out their stakes in the future, an operation that could allow an increase of Mirada's free float in the Stock Exchange.

[davidlloyd] 31/10/2012 15:43

Whilst those of us with historical knowledge of this 'shower' may remain sceptical - every worm can turn.

Interim results reported tomorrow and statemnt is pretty clear:

'Our Interims to 30th September 2012 will be reported on 1 November and I am
pleased to say that we anticipate that they will show a significant improvement in performance'

What other clues do we need?

DL

[lw425] 13/7/2012 13:24

no regulatory RNS since 15/12/2011.

why bother with listing?

[cockney sparrow] 29/2/2012 15:21

Pumpkin, do you still hold these? What ever happened to your 300p yes £ 3 quid target?

[cockney sparrow] 13/1/2012 10:39

Could drift under 10p ouch!

[pennysharemillionaire2] 20/11/2011 20:04

I hear TOTALLY - TLY has won a big contract with NHS, isn't that what Yoomedia used to win or have ?

[cockney sparrow] 14/11/2011 19:02

PLOP! FLOP!

[cockney sparrow] 23/9/2011 09:46

Ring Tringo Ploppppoooooooooooooooo

[rambutan2] 08/9/2011 14:58

hmmmm...


Update: apparently they didn't take it, just the basic kit, although they could always upgrade at a later date.

[brother petrus] 01/9/2011 10:26

check out Blinkx - now that really _could_ be another QXL - assuming they don't get bought first...