Source - LSE Regulatory
RNS Number : 6806T
Mercia Asset Management PLC
26 July 2022
 

RNS

26 July 2022

 

Mercia Asset Management PLC

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

Grant of Options

 

Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager with c.£959million of assets under management, announces that options (the "Options") over a total of 3,431,000 new Ordinary shares with a nominal value of £0.00001 each in the capital of the Company ("Ordinary Shares") were awarded yesterday pursuant to the 2014 Mercia Company Share Option Plan at an exercise price of 29.50p per Ordinary Share (being the closing mid-market price of an Ordinary Share on 25 July 2022). The Options will, subject to the satisfaction of the performance condition, vest in three equal tranches on the third, fourth and fifth anniversary of the date of grant of the Options.

 

The Options represent, in aggregate, 0.78% of the existing Ordinary share capital of the Company and have been issued to a number of employees of the Company, including one person discharging managerial responsibilities ("PDMR"). 

 

The Options granted to the PDMR are in line with the Group's remuneration policy and are subject to typical holding, malus and clawback provisions. None of these options were awarded to the Executive leadership team.

 

Following the grant of these Options, the Company has a total of 30,868,140 unvested options pursuant to the 2014 Mercia Company Share Option Plan, equating to approximately 7.01% of the existing issued Ordinary share capital of the Company.

 

Following the grant of these Options, the PDMR holds the following Ordinary Shares and options:

 

Name

Role

Grant of Options over Ordinary Shares

Total number of options over Ordinary Shares

Interest in existing issued Ordinary Shares

Sarah Williams

PDMR - Group General Counsel and Company Secretary

50,000

250,000

0

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 

Notification and public disclosure of transactions by person discharging managerial responsibilities.

 

1

Details of the persons discharging managerial responsibilities/person closely associated

a)

Name

(i) Sarah Williams - PDMR

 

2

Reason for the notification

a)

Position/status

PDMR of the Company

b)

Initial Notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Mercia Asset Management PLC

b)

Legal Entity Identifier

213800A1Q4CF57NECG66

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

Identification code

Ordinary shares of 0.001 pence each

 

 

 

ISIN: GB00BSL71W47

b)

Nature of the transaction

Grant of options

c)

Currency

GBP

d)

Price(s) and volume(s)

Exercise Price

No. of shares

£0.295

50,000

 

e)

Aggregated information

- Aggregated volume

- Price

- Aggregated total

N/A - single transaction

f)

Date of the transaction

25 July 2022

g)

Place of the transaction

Outside a trading venue

 

-Ends-

 

For further information, please contact:

 

Mercia Asset Management PLC

Mark Payton, Chief Executive Officer

Martin Glanfield, Chief Financial Officer

www.mercia.co.uk   

 

+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, 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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