Mercia Asset Management PLC
24 September 2026
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RNS |
24 September 2026 |
Mercia Asset Management PLC
("Mercia", the "Company" or the "Group")
AGM Statement
Mercia Asset Management PLC (AIM: MERC), the regionally focused, private capital asset manager with c.£2.2billion of assets under management, is holding its Annual General Meeting at 10.00am today. 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 many venture capital, development capital and property finance fund mandates. As a result of its continued significant funds liquidity and wide-ranging deal flow networks, the Group remains well placed to continue to deploy capital across its fund portfolios, by adding new investments and supporting existing portfolio companies.
"The Group also remains well positioned to continue executing its strategy of growing funds under management, both organically and by acquisition, combined with the resultant economies of scale, to drive future financial performance, and, as a result, deliver increasing returns to shareholders.
"In this respect, I am pleased to announce that Mercia has just been appointed to manage a new equity mandate under the British Business Bank's £140.0million East of England Investment Fund, with an initial £63.0million of new funds under management.
"We have drawn £16.0million of our new £38.0million bank facilities and our gross cash balance is currently a robust c.£37million. Overall, the direct investment portfolio continues to make good technical and commercial progress and conversations with third parties are being held in respect of the potential divestiture of the direct investment portfolio.
"We are optimistic about continuing profitable growth in the second half of the financial year."
- Ends -
For further information, please contact:
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Mercia Asset Management PLC |
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Mark Payton, Chief Executive Officer |
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Martin Glanfield, Chief Financial Officer |
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+44 (0)330 223 1430 |
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Canaccord Genuity Limited (NOMAD and Joint Broker) |
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Simon Bridges, Emma Gabriel, Harry Rees |
+44 (0)20 7523 8000 |
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Singer Capital Markets (Joint Broker) |
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Charles Leigh-Pemberton |
+44 (0)20 7496 3000 |
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Cardew Group (PR Adviser) |
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Tania Wild, Luke Bramwell |
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+44 (0)20 7930 0777 |
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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