| 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.£948million of assets under management, is pleased to confirm that, further to its announcement on 5 January 2022 regarding the sale of Faradion Limited, the £0.8million of ring-fenced cash proceeds have now been released.
The release of the £0.8million ring-fenced proceeds is in addition to the profit of £5.7million reported on 5 January 2022, and now brings the total realised profit on the disposal to £6.5million 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 1430
|
| Canaccord Genuity Limited (NOMAD and Joint Broker) | +44 (0)20 7523 8000 |
| Simon Bridges, Andrew Potts | |
| | |
| Singer Capital Markets (Joint Broker) | +44 (0)20 7496 3000 |
| Harry Gooden, James Moat | |
| | |
| FTI Consulting | +44 (0)20 3727 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.£948million of assets under management and, since its IPO in December 2014, has invested c.£116million gross into its direct investment portfolio.
Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".
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