AGM Statement

RNS Number : 9084Z

Mercia Asset Management PLC

24 September 2020

 

  24 September 2020

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, is today holding its Annual General Meeting. The Non-executive Chair, Ian Metcalfe, will make the following remarks at the meeting:

"I am pleased to say that Mercia is performing well. Our fund management business now manages c. £658million of long duration funds under management, generating recurring profits. In addition, our balance sheet portfolio is showing increasing momentum with companies in sectors exposed to positive trends such as life sciences and software continuing to thrive, while others more affected by COVID-19 are experiencing some recovery. Our strong liquidity position means we are continuing to deploy capital into the attractive opportunities we are seeing, both through our managed funds and balance sheet. We have a resilient and differentiated business model and are increasingly recognised as a leading fund manager and provider of capital to the UK's regions, which gives us optimism for the future."

-Ends-

For further information, please contact:

Mercia Asset Management PLC Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer www.mercia.co.uk	[phone]
Canaccord Genuity Limited (NOMAD and Joint Broker)	[phone]
Simon Bridges, Emma Gabriel, Richard Andrews
N+1 Singer (Joint Broker)
Harry Gooden, James Moat	[phone]
FTI Consulting	[phone]
Tom Blackwell, Louisa Feltes, Shiv Talwar
[e-mail]

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 balance sheet, venture, private equity and debt 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.£800million of assets under management and, since its IPO in December 2014, has invested over £96million into its direct investment portfolio.

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

 

END

 

 

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