AGM Statement
21/09/2023 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230921:nRSU1113Na&default-theme=true
RNS Number : 1113N Mercia Asset Management PLC 21 September 2023
RNS 21 September 2023
Mercia Asset Management PLC
("Mercia", the "Group" or the "Company")
AGM Statement
Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused
specialist asset manager with c.£1.4billion of assets under management, is
today holding its Annual General Meeting. The Non-executive Chair, Ian
Metcalfe, will make the following remarks at the meeting:
"Mercia has made a positive start to the current financial year across its
asset classes and their resultant recurring revenue streams. The Group remains
well placed to support existing funds' portfolio companies, as well as adding
new investments to those portfolios as a result of our continuing Group-wide
liquidity position and strong deal origination capabilities.
"We are carefully managing our balance sheet cash position of c.£35million,
together with its increasing yield, whilst maintaining support for our
existing, maturing direct investments. We remain optimistic for continuing
progress across the Group during the second half of the current financial
year."
-Ends-
For further information, please contact:
Mercia Asset Management PLC +44 (0)330 223 1430
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial Officer
www.mercia.co.uk (http://www.mercia.co.uk/)
Canaccord Genuity Limited (NOMAD and Joint Broker) +44 (0)20 7523 8000
Simon Bridges, Emma Gabriel
Singer Capital Markets (Joint Broker) +44 (0)20 7496 3000
Harry Gooden, James Moat
FTI Consulting +44 (0)20 3727 1051
Tom Blackwell, Jenny Boyd
mercia@fticonsulting.com
About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on supporting regional
SMEs to achieve their growth aspirations. Mercia provides capital across its
four asset classes of venture, private equity, debt and proprietary capital:
the Group's 'Complete Connected Capital'. The Group initially nurtures
businesses via its third-party funds under management, then over time Mercia
can provide further funding to the most promising companies, by deploying
direct investment follow-on capital from its own balance sheet.
The Group has a strong UK footprint through its regional offices, university
partnerships and extensive personal networks, providing it with access to
high-quality deal flow.
Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END AGMSEDFLSEDSEDU