Mercia Asset Management PLC AGM Statement (1113N)

TIDMMERC

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.GBP1.4billion 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.GBP35million, 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 
    Mark Payton, Chief Executive Officer 
    Martin Glanfield, Chief Financial Officer      +44 (0)330 223 
    www.mercia.co.uk                                         1430 
   Canaccord Genuity Limited (NOMAD and Joint    +44 (0)20 7523 
    Broker)                                       8000 
   Simon Bridges, Emma Gabriel 
 
                                                 +44 (0)20 7496 
   Singer Capital Markets (Joint Broker)          3000 
   Harry Gooden, James Moat 
 
                                                 +44 (0)20 3727 
   FTI Consulting                                 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".

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END

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September 21, 2023 02:00 ET (06:00 GMT)

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