TIDMMERC

RNS Number : 8726H

Mercia Asset Management PLC

11 April 2022

 
 RNS              11 April 2022 
 

Mercia Asset Management PLC

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

Update on proceeds from sale of Faradion

Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager with c.GBP948million of assets under management, is pleased to confirm that, further to its announcement on 5 January 2022 regarding the sale of Faradion Limited, the GBP0.8million of ring-fenced cash proceeds have now been released.

The release of the GBP0.8million ring-fenced proceeds is in addition to the profit of GBP5.7million reported on 5 January 2022, and now brings the total realised profit on the disposal to GBP6.5million above the holding value as at 30 September 2021.

-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 
                                                         +44 (0)20 7523 
   Canaccord Genuity Limited (NOMAD and Joint Broker)     8000 
   Simon Bridges, Andrew Potts 
 
                                                         +44 (0)20 7496 
   Singer Capital Markets (Joint Broker)                  3000 
   Harry Gooden, James Moat 
 
                                                         +44 (0)20 3727 
   FTI Consulting                                         1051 
   Tom Blackwell, Immy Ransom 
   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, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia currently has c.GBP948million of assets under management and, since its IPO in December 2014, has invested c.GBP116million gross into its direct investment portfolio.

Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".

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(END) Dow Jones Newswires

April 11, 2022 02:01 ET (06:01 GMT)

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