Mirada PLC - Notice of GM
("Mirada" or the "Company")
Notice of General Meeting
The purpose of the General Meeting is to seek the approval of shareholders to undertake the cancellation of the sum of
A copy of the circular containing the Notice of General Meeting will shortly be available on the Company's website at www.mirada.tv.
Defined terms used in this announcement have the same meaning as set out in the circular.
Details of the Share Premium Account Cancellation
In addition, the deficit on the Company's profit and loss account also prevents the Company from being able to pay dividends or to purchase its own shares until such time as the deficit on its profit and loss account has been eliminated by profits in excess of the deficit. Whilst it is not anticipated that the share premium account cancellation, which will result in the balance being credited to the Company's profit and loss account, will eliminate the entire deficit on the Company's profit and loss account it will greatly reduce this deficit thus strengthening the Company's balance sheet and therefore its commercial position when entering into discussions with customers and funders.
The Act allows a company to reduce its share premium account unless it is prohibited from doing so by its articles. The Company is permitted by the Articles to reduce its share premium account. A company, having obtained the approval of its shareholders to a reduction of its share capital by the passing of a special resolution at a general meeting, would then be able to effect such reduction once it has been confirmed by the
The Share Premium Account Cancellation will result in the creation of a new reserve against which the Company expects to then credit its profit and loss account, subject to any undertakings given to the
Prior to approving the proposed Share Premium Account Cancellation, the
The Share Premium Account Cancellation does not affect the voting or dividend rights of Shareholders and will not affect the number of Ordinary Shares in issue or the nominal value per Ordinary Share.
The Resolution to be proposed at the General Meeting is a special resolution to cancel the share premium account of the Company at the date an order is made confirming such cancellation by the
The Resolution is a special resolution and will require not less than 75 per cent. of those voting in person or on a poll by proxy to vote in favour of the Resolution.
The Directors of the Company believe that the Proposal set out in the circular is in the best interests of the Company and Shareholders and recommend Shareholders to vote in favour of the Resolution as they intend to do in respect of their aggregate holding of 40,871 Ordinary Shares representing approximately 0.46 per cent of the Ordinary Shares in issue at the date of the circular.
Gonzalo Babío, Chief Financial Officer
+44 (0) 207 868 2104
+44 (0) 20 3328 5656
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+44 (0) 207 680 6550
Mirada is a leading provider of products and services for Digital TV Operators and Broadcasters. Founded in 2000 and led by CEO
Mirada's products and solutions, acclaimed for unparalleled flexibility and optimal time to market, have been deployed by some of the biggest names in digital media and broadcasting including Televisa, ATNI, Digital TV Cable Edmund,
This information is provided by RNS, the news service of the
Quick facts: Mirada PLC
Market Cap: £8.02 m
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