By Ian Walker
Mirriad Promoting PLC mentioned Friday that it has began a strategic evaluation of its choices to maximise worth, together with an fairness capital elevating and formal sale course of.
The London-listed promoting agency mentioned that it believes the corporate is “considerably undervalued,” particularly in gentle of its progress and improved place within the U.S. market and the event of its platform capabilities.
The corporate mentioned income for 2022 was 1.5 million kilos ($1.9 million), of which 78% was generated within the U.S. in contrast with 14% in 2020. Income in 2021 was GBP2.0 million.
Mirriad mentioned that it had money of GBP11.3 million at Dec. 31.
The corporate mentioned it is not in talks with any takeover occasion, nor has obtained any strategy from any potential offeror. There isn’t any certainty that any deal shall be struck, it mentioned.
Write to Ian Walker at ian.walker@wsj.com