Mirada Share Discussion Threads

[rivaldo] 07/7/2014 10:49

MIRA has been on my watchlist for a while now.

Apart from why over 11% of the shareholders would want to exit at this price, no-one seems to have commented on this deferral of revenue buried in today's RNS, which may lead to downgrades for this year's results? It also shows that the company was under a certain amount of financial pressure, which at least they seem to have temporarily allayed now:

"The trial was originally scheduled to complete in Q1 2014, with payment expected to be received by the Company at or around the end of the trial, with a view to entering into the fuller contract if the subsequent tests were successful.

However, despite the customer being satisfied with the Company's performance
during the trial within the agreed timetable and having committed for a
commercial rollout in the contract executed at the end of May, the STBs
required for the commercial deployment will only be available in Q4 2014.

As a consequence of this delay and the need to continue investing the new
opportunities identified by the Board, the Company forecasted potential working
capital pressures. Despite not having an impact on the Company being able to
service the Tier 1 contract, the Board of Directors decided to accelerate the
fundraise for risk of detrimental operational costs cutting measures being
implemented, which could have caused the Company to lose out on future
opportunities following the award of this Tier 1 contract."

[stewy_18] 07/7/2014 08:07

OK. Would certainly have been better if the could have got the placing off earlier, but I don't see 12.5 pence as a huge discount. Unless of course the placing was konwn about which caused the shareprice drop.

It will be interesting to see how Vasquez's credibility is holding up. I expect to see a lot of business generated off the back of this. He explicitly stated that there would be no placing necessary unless they gained new business.

I await with interested any announcements in the coming months. I bought a lot lower than this but also topped up at 18 pence.

I will reserve jugement as his track record so far has been spot on.

Over to you Mr Vasquez.

[ukinvestor220] 07/7/2014 07:08

you can say that again

[atlantic57] 07/7/2014 06:59

Shock horror who would have thought it.
Tipped by tipsters at a higher price and the story is so good that the institutions have to be given a discount.
Same old aim

[atlantic57] 07/7/2014 06:59

Shock horror who would have thought it.
Tipped by tipsters at a higher price and the story is so good that the institutions have to be given a discount.
Same old aim

[atlantic57] 07/7/2014 06:59

Shock horror who would have thought it.
Tipped by tipsters at a higher price and the story is so good that the institutions have to be given a discount.
Same old aim

[atlantic57] 07/7/2014 06:59

Shock horror who would have thought it.
Tipped by tipsters at a higher price and the story is so good that the institutions have to be given a discount.
Same old aim

[atlantic57] 07/7/2014 06:59

Shock horror who would have thought it.
Tipped by tipsters at a higher price and the story is so good that the institutions have to be given a discount.
Same old aim

[paleje] 07/7/2014 06:45

At least they're facilitating an exit for substantial sellers at the same time, which removes a cloud. Now they need to get some more contract news out.

[peterlowen] 07/7/2014 06:16

The dilution and money raised via Yoomedia to Mirada typical aim cash cow....

[battlebus2] 07/7/2014 06:08

£3.5 Million Placing and Notice of General Meeting

mirada plc, the AIM-quoted audio-visual interaction specialist (AIM: MIRA),
announces a proposed placing to raise approximately £3.5 million (before
expenses) by way of a placing of 28,000,000 Placing Shares at 12.5 pence per
share ("the Placing") with institutional and other investors, subject to
shareholder approval.

At the same time of the Placing, and at the same price of 12.5 pence per share,
certain Shareholders comprising in aggregate 11.4 per cent. of the issued share
capital of the Company, propose to dispose of all their Existing Ordinary
Shares ("Disposal").

The new monies will be used to help mirada further strengthen its position
within the rapidly growing over the top ("OTT") market as it builds on the
momentum achieved by its first Tier 1 and largest contract win to date.

HIGHLIGHTS

* 28,000,000 Ordinary Shares conditionally placed with institutional and
other investors.

* The Placing has conditionally raised £3.5 million of new monies for the
Company.

* Placing and Disposal price of 12.5 pence per share represents a discount of
2 per cent. to the closing mid-market price on 04 July 2014 (being the
latest practicable date prior to the date of this Announcement).

* New monies will be used to enable the Company to service recently awarded
contracts, further strengthen its position within the OTT market and Latin
America, to further develop its product base and to strengthen its balance
sheet.

Commenting, Jose Luis Vazquez, Chief Executive Officer, said:

"Having secured our largest contract to date, we see strong potential to build
on a growing pipeline of work within the OTT market, which continues to grow
rapidly. The contract provides a significant reference point for us and there
is huge scope for mirada to build on the recent momentum. The new monies will
help us to further strengthen our position within the market place and focus on
product development and marketing initiatives as we look to service an
increasing amount of larger contracts."

General Meeting

A circular convening a general meeting of the Company to be held at the offices
of HowardKennedyFsi LLP at 180 Great Portland Street, London W1W 5QZ on 30 July
2014 at 11.00 am to grant Directors the authority to allot the Placing shares
for cash on a non pre-emptive basis will be sent to shareholders today and will
be available to download from the Company's website at www.mirada.tv.

[mdchand] 04/7/2014 20:54

waiting to buy once the share price finds a natural floor :-)

[paleje] 03/7/2014 15:02

I know what you mean about burnt fingers Atlantic, you're not in exclusive territory there:)

[atlantic57] 03/7/2014 07:45

Paleje you make valid comments !

However given the record of so many aim companies where they just seem to be a gravy rain for aim advisors and institutions i prefer to wait and see before committing funds.

To many burnt fingers!

[paleje] 02/7/2014 19:57

It's annoying to watch the drift in share price but I suppose in hindsight there hasn't been enough hard information provided to bind investors interest.

"The contract is expected to generate significant revenues, starting in the second half of the financial year, which the Directors believe should far exceed mirada's yearly turnover over the next three to five years."

Its a bit vague, I think we can only assume that the contract will match current yr t/o over 5 years, which means adding ~20% pa. Forget the 'far exceed' bit because we don't know what that means, and forget the '3 years' bit because it's wishful thinking which only might happen.

Admittedly there's scope to add by more than 20%, maybe 30 or 40% or even more but we don't know it.

We also don't know how progress on 'the number of exciting opportunities the company is working on to build off this major contract' is going.

I think there's much more upside potential than downside risk but it's certainly frustrating waiting for news and it will be a pity if they have to raise cash while the share price is depressed; I would have thought they could manage news effectively to avoid that if they wanted to, in the interest of current holders, but knowing aim they'll probably just go for the easiest route.

Meanwhile as ever it's patience.

[atlantic57] 02/7/2014 14:50

It is difficult to see a share price falling ahead of 'good news'

This kind of slide in other aim stocks has often preceded a placing or bad news.
The director selling 400 000 shares did not do any favours to pi's

Time will tell.

[synth657] 02/7/2014 14:42

Yes, I remember him saying that too. Anyway, a frustrating slide, whatever the reason.

[stewy_18] 02/7/2014 14:38

Placing is good news IMO.

Vasquez said there was no need for a placing unless they won new business. I read that as positive. Might be wrong though. Indeed a placing would be bettwer at 18 pence than 13.

We will just have to wait I guess.

[synth657] 02/7/2014 14:27

Or a placing!

[stewy_18] 02/7/2014 14:17

Quite unbelievable the slide. You would have thought they lost the contract based on this recent weakness.

[n3tleylucas] 29/6/2014 02:11

Doubt it mate, this looks more like several dead cats b4 11 is tested.

[looby loo] 28/6/2014 23:19

At a key level here. Is it going to bounce / reverse back up off the 50% fib retracement level?

[stewy_18] 27/6/2014 12:10

Yes, not pleasing to see this drop. It is like they didn't win the contract at all :( However, so far Vasquez has been good to his word about what would happen. I think this will do very well over the next 3 years. I would expect more contract wins this year. What happens short term however, is anybodys guess. Would like to top up but already fully invested.

[pj 1] 27/6/2014 11:33

Only a small holding so I have taken 26k more. If they can win the initial contract then I'm prepared to risk their confident statement that more will follow.

Hopefully the next will have a more transformational effect on the Company as the previous should have done! :-//

[jamielein] 27/6/2014 11:15

I don't think the director sell helped, so I'm guessing we'll need some new contract wins or news on progress to act as a catalyst.