REG - Mercia Asset Mgt PLC - Grant of Options to PDMRs

Mercia Asset ManagementAnnouncement

Yesterday 11:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250716:nRSP3261Ra&default-theme=true

RNS Number : 3261R  Mercia Asset Management PLC  16 July 2025

 RNS  16 July 2025

Mercia Asset Management PLC

("Mercia", the "Group" or the "Company")

Grant of Options to PDMRs

Mercia Asset Management PLC (AIM: MERC), the regionally focused, private
capital asset manager with c.£2.0billion of assets under management ("AuM"),
announces that on 15 July 2025 long-term incentive plan options ("LTIP
Options") over a total of 7,028,572 new Ordinary shares with a nominal value
of £0.00001 each in the capital of the Company ("Ordinary Shares") were
awarded to the two Executive Directors of the Company (the "Executive
Directors") pursuant to the 2024 Mercia Employee Share Plan (the "ESP") as set
out below.

These LTIP Options will, subject to the satisfaction of the performance
conditions, be exercisable on each of the third, fourth and fifth anniversary
of the date of grant of the options (one third in each year). Any Ordinary
Shares issued between the third and fifth anniversary of the date of grant of
the LTIP Options are subject to customary lock-in restrictions save for
meeting any tax liabilities.  Nominal consideration is due to be payable on
vesting.

Up to two thirds of the LTIP Options will be subject to the following
performance conditions: (i) 25 per cent. of the two thirds on achieving EBITDA
of at least £10 million for the financial year ending 31 March 2027 ("FY27");
(ii) 25 per cent. of the two thirds on achieving at least £3 billion of AuM
as at 31 March 2027; and (iii) 50 per cent. of the two thirds on achieving
total shareholder return ("TSR") of 20 per cent or above, over the performance
period from 1 April 2025 to 31 March 2027.

The remaining one third of the LTIP Options will be subject to the following
performance conditions: (i) 25 per cent. of the one third on achieving EBITDA
of at least £14 million for FY27; (ii) 25 per cent. of the one third on
achieving at least £4billion of AuM as at 31 March 2027; and (iii) 50 per
cent. of the one third on achieving an average closing mid-market share price
of at least 50 pence per Ordinary Share for the period from 27 March 2027 to
31 March 2027.

The LTIP Options granted to the Executive Directors are in line with the
Group's remuneration policy and are subject to typical malus and clawback
provisions.

Separately, pursuant to the ESP, options over 3,830,000 Ordinary Shares ("CSOP
Options") were awarded to a number of senior employees of the Company at an
exercise price of £0.33 per Ordinary Share (being the closing mid-market
price of an Ordinary Share on 15 July 2025). These CSOP Options will, subject
to the satisfaction of a performance condition, vest in three equal tranches
on the third, fourth and fifth anniversary of the date of grant of the CSOP
Options.

Following the grant of the LTIP Options and the CSOP Options above, the
Company has 10,858,572 unvested options in issue pursuant to the ESP and
27,721,154 vested and unvested options in issue pursuant to the 2014 Share
Plan and Save As You Earn Plan, together equating to 8.65% of the existing
issued share capital of the Company.

Following the grant of these LTIP and CSOP Options, the Executive Directors
and one PDMR hold the following share options and Ordinary Shares:

 PDMR              Role                                                Grant of options        Total number of options over Ordinary Shares  Interest in existing issued Ordinary Shares
 Mark Payton       Chief Executive Officer                             3,869,388 LTIP Options  6,785,417                                     7,330,716
 Martin Glanfield  Chief Financial Officer                             3,159,184 LTIP Options  5,671,756                                     1,993,794
 Sarah Williams    PDMR - Group General Counsel and Company Secretary  450,000 CSOP Options    700,000                                       Nil

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities:

 1   Details of the persons discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         (i)         Mark Payton, Chief Executive Officer

                                                                  (ii)        Martin Glanfield, Chief Financial Officer

                                                                  (iii)       Sarah Williams, Group General Counsel and Company Secretary
 2   Reason for the notification
 a)  Position/status                                              Executive Directors and PDMRs of the Company
 b)  Initial Notification/ Amendment                              Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Mercia Asset Management PLC
 b)  Legal Entity Identifier                                      213800A1Q4CF57NECG66
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary Shares of £0.00001 each

     Identification code

                                                                  ISIN - GB00BSL71W47
 b)  Nature of transaction                                        Grant of options
 c)  Currency                                                     GBP
 d)  Price(s) and volume(s)                                       Exercise Price                            No. of Ordinary Shares
     £0.00001                                                                                               (i)            3,869,388
     £0.00001                                                                                               (ii)           3,159,184
                                                                  £0.33                                     (iii)         450,000
 e)  Aggregate information                                        N/A - single transactions

     - Aggregate volume

     - Price

     - Aggregate total
 f)  Date of the transaction                                      15 July 2025
 g)  Place of the transaction                                     Outside a trading venue

 

-Ends-

For further information, please contact:

 

Mercia Asset Management PLC

Mark Payton, Chief Executive Officer

Martin Glanfield, Chief Financial Officer

www.mercia.co.uk (http://www.mercia.co.uk)
 
+44 (0)330 223 1430

 

Canaccord Genuity Limited (NOMAD and Joint Broker)

Simon Bridges, Andrew Potts, Harry Gooden
                                   +44 (0)20 7523 8000

 

Singer Capital Markets (Joint Broker)

Charles Leigh-Pemberton
 
     +44 (0)20 7496 3000

 

FTI Consulting

Tom Blackwell, Jenny Boyd
 
     +44 (0)20 3727 1051

mercia@fticonsulting.com

 

About Mercia Asset Management PLC

Mercia is a private capital asset manager focused on supporting regional SMEs
to achieve their growth aspirations. Mercia provides capital across its four
asset classes of venture, debt, private equity and proprietary capital: the
Group's 'Complete Connected Capital'.

 

The Group has a strong UK footprint through its 11 regional offices, extensive
local adviser and personal networks, and university partnerships, 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  DSHBGGDRLBBDGUL