Mirriad invites potential suitors to make their proposals
Mirriad Advertising updated its shareholders and the market on its strategic review and formal sale process on Wednesday, which it first announced on 20 January.
The AIM-traded firm said that since its launch, a number of interested parties had entered into early-stage discussions over a potential investment into, or a possible acquisition of, the company.
Interested parties had been invited to put forward non-binding indicative proposals by early April.
The board said it would review any proposals put forward, and invite selected parties to participate further in the process.
“While all options are under consideration as part of the strategic review, including raising additional equity, there can be no assurance that the strategic review and formal sale process will result in any transaction, nor as to the terms of any transaction,” the directors cautioned in their statement.
“The board will continue to update the market further as appropriate.”
At 1401 BST, shares in Mirriad Advertising were down 5.14% at 1.66p.
Reporting by Josh White for Sharecast.com.