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Mirriad Advertising ( (GB:MIRI) ) has issued an update.
Mirriad Advertising has received a shareholder requisition from investor Omar Ahmad, who holds about 6.18% of the company’s ordinary shares, demanding that the board convene a general meeting. The requested meeting will ask shareholders to vote on six resolutions aimed at removing the current three directors and appointing three new directors to the board.
Under U.K. company law, Mirriad’s board must call this general meeting within 21 days, with the event to be held within 28 days of the meeting notice. The company said it is carefully considering the requisition, will set out its recommendation to shareholders in the formal notice, and has told investors not to take any action until further guidance is provided.
Spark’s Take on MIRI Stock
According to Spark, TipRanks’ AI Analyst, MIRI is a Neutral.
The score is driven primarily by weak financial performance: sharp revenue contraction, very large losses, and significant ongoing cash burn with balance sheet erosion. With no usable technical indicators and limited valuation signals (negative P/E and no dividend yield provided), there are few offsets to the financial risks.
To see Spark’s full report on MIRI stock, click here.
More about Mirriad Advertising
Mirriad Advertising is a U.K.-listed company on AIM that operates in the advertising and media technology sector. It provides in-content advertising solutions, inserting brands and products digitally into video and other media, targeting broadcasters, content owners and advertisers seeking non-traditional, contextually integrated ad formats.
Technical Sentiment Signal: Strong Sell
Current Market Cap: £512.2K
See more data about MIRI stock on TipRanks’ Stock Analysis page.