REG - Mercia Asset Mgt PLC - Share Buyback Programme

Mercia Asset ManagementAnnouncement

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RNS Number : 9306Y  Mercia Asset Management PLC  01 April 2026

RNS
 
1 April 2026

 

Mercia Asset Management PLC

 

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

 

Share Buyback Programme

 

Mercia Asset Management PLC (AIM: MERC), the regionally focused, private
capital asset manager with over £2.0billion of assets under management, today
announces that it is commencing a new share buyback programme of up to
£3.0million (the "Share Buyback Programme"), in line with its annual share
buyback policy. Shares bought back will be cancelled.

 

The Share Buyback Programme will be for on market purchases of up to
£3.0million of Ordinary shares in the Company (the "Maximum Monetary
Amount"), in accordance with certain pre-set parameters (the "Share Buyback").

 

Mercia has entered into arrangements with Canaccord Genuity Limited
("Canaccord Genuity") (the "Broker") to conduct this new Share Buyback
Programme on its behalf on a broker-managed basis, in relation to the purchase
of Ordinary shares of Mercia (the "Ordinary Shares").

 

The Broker will make trading decisions in relation to Shares purchased under
the Share Buyback Programme independently of, and uninfluenced by, Mercia.

 

 

Further details of the Share Buyback Programme

 

·    The purpose of the Share Buyback Programme is to reduce the share
capital of the Company and to return capital to those shareholders wishing to
participate in the Share Buyback.

 

·    The Share Buyback will be financed from existing cash resources.

 

·    The Share Buyback will take place within the limitations of the
authority granted to the Board of Mercia to repurchase Ordinary shares granted
by its shareholders from time to time (at the Company's Annual General
Meeting, held on 25 September 2025, shareholders gave the Company authority to
purchase a maximum of 43,244,112 Ordinary shares (the "General Authority").

 

·    In accordance with the General Authority, the maximum price paid per
Ordinary Share acquired by the Company pursuant to the Share Buyback is to be
no more than the higher of: (i) 5% above the average of the mid-market value
of the Ordinary Shares for the five business days before the purchase is made;
and (ii) the higher of the last independent trade and the highest current
independent bid, for any number of Ordinary Shares on the trading venue where
the purchase is carried out. Furthermore, in accordance with the General
Authority the minimum price payable per Ordinary Share acquired by the Company
pursuant to the Share Buyback is 0.001 pence.

 

·    It is intended that the Share Buyback Programme will be conducted
within the volume limits of the exemption contained in Article 5(1) of the
Regulation. However, given the relatively limited liquidity in the Shares, the
Company has agreed that, on any trading day, a buy-back of Ordinary Shares
under the Share Buyback Programme may exceed 25 per cent. but remain below 50
per cent. of the average daily trading volume in the Shares in the 20 trading
days preceding the date on which a buy-back of Ordinary Shares is carried out.
Accordingly, the Company may not benefit from the exemption contained in the
Market Abuse Regulation (EU 596/2014) with respect to such trading dates.

 

·    The Share Buyback will commence on the date of this announcement and
will continue until the earlier of (i) 31 March 2027; (ii) the point at which
the total monetary value of Ordinary Shares purchased under the Share Buyback
reaches the Maximum Monetary Amount or (iii) the process is terminated or
paused.

 

·    The purchased Ordinary Shares will be cancelled.

 

·    Share buybacks will take place in open market transactions and may be
made from time to time depending on market conditions, share price and trading
volume. There is no certainty that any buybacks will be completed. The Share
Buyback may be paused at any time if deemed appropriate by the Brokers with
respect to market conditions.

 

·    Mercia intends to announce any purchase of Ordinary Shares under the
Share Buyback Programme on a weekly basis, and in any event by no later than
the end of the seventh daily market session following the date of execution.

 

The Board has determined that the continuation of its share buyback policy
remains in the best interests of the Company and its shareholders.

 

 

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, Emma Gabriel, Harry Rees
                                       +44 (0)20 7523 8000

 

Singer Capital Markets (Joint Broker)

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

 

FTI Consulting

Tom Blackwell, Thomas Lodge
 
        +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, development capital, property finance 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".

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