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Mirada arranges new loan facility with major shareholder

The facility, for US$3mln, is repayable in a year’s time
set top box
Interactive software is Mirada's speciality

Over-the -top TV software specialist Mirada Plc (LON:MIRA) has arranged a new loan facility with major shareholder Ernesto Tinajero.

The facility, for US$3mln, is repayable in a year’s time and charges interest of 15% on funds drawn.

READ: Mirada's solid sales pipeline starts to bear fruit

Mirada said the monies will strengthen its balance sheet, help it finalise new customer contracts and renew other debt arrangements.

Tinajero has a 27.03% beneficial interest in Mirada and was the former owner of Cablecom in Mexico, a customer of the AIM-listed group that is now part of Latin American media group Televisa.

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