| RNS | 18 September 2023 |
Mercia Asset Management PLC
("Mercia", the "Group" or the "Company")
Grant of SAYE Options
Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager with c.£1.4billion of assets under management, announces that options (the "Options") over a total of 2,318,735 new Ordinary shares of £0.00001 each in the capital of the Company ("Ordinary Shares") were awarded today pursuant to the 2023 Mercia Save As You Earn Share Option Plan (the "SAYE Scheme"). The Options were granted at an exercise price of 20.72p per Ordinary Share (calculated in accordance with the rules of the SAYE Scheme). The Options will vest on 1 November 2026.
These new Options have been issued within the 10.0% overall limit of the Company's issued share capital, set by the approved 2014 Mercia Company Share Option Plan. Following the grant of these Options, the Company has awarded, in aggregate, a total of 37,676,771 options pursuant to the 2014 Mercia Company Share Option Plan and the 2022 and 2023 Mercia Save As You Earn Option Plans, equating to approximately 8.4% of the existing issued Ordinary share capital of the Company. Mercia's SAYE Scheme provides staff with an additional medium term retention incentive, which is fully aligned with the Group's shareholder value creation strategy.
The following PDMRs applied for and have been granted Options pursuant to the 2023 SAYE scheme:
· Mark Payton, Director and CEO of the Company was granted 89,527 Options
· Martin Glanfield, Director and CFO of the Company was granted 89,527 Options
· Ross Gardner, PDMR and Group Financial Controller of the Company was granted 89,527 Options
Following the grant of these Options, the PDMRs listed below hold the following options and Ordinary Shares in the Company:
| Name | Role | Grant of SAYE Options over Ordinary Shares | Total number of other options over Ordinary Shares | Interest in existing issued Ordinary Shares |
| Mark Payton* | Director - CEO | 89,527 | 5,422,932 | 7,184,876 |
| Martin Glanfield** | Director - CFO | 89,527 | 4,536,697 | 1,599,118 |
| Ross Gardner | PDMR - Group Financial Controller | 89,527 | 250,000 | 0 |
* Including 12,793 Ordinary shares held by Katherine Yeo
** Including 165,254 Ordinary shares held by Bryonie Glanfield
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 | Mark Payton - PDMR
| |
| 2 | Reason for the notification | ||
| a) | Position/status | Director (PDMR) | |
| b) | Initial Notification /Amendment | Initial | |
| 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 | Options over Ordinary shares of 0.001 pence each
ISIN: GB00BSL71W47 | |
| b) | Nature of the transaction | Grant of options | |
| | | | |
| c) | Price(s) and volume(s) | Exercise Price | No. of shares |
| £0.2072 | 89,527 | ||
|
| |||
| d) | Aggregated information - Aggregated volume - Price - Aggregated total | N/A - single transaction | |
| e) | Date of the transaction | 18 September 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the persons discharging managerial responsibilities/person closely associated | ||
| a) | Name | Martin Glanfield - PDMR
| |
| 2 | Reason for the notification | ||
| a) | Position/status | Director (PDMR) | |
| b) | Initial Notification /Amendment | Initial | |
| 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 | Options over Ordinary shares of 0.001 pence each
ISIN: GB00BSL71W47 | |
| b) | Nature of the transaction | Grant of options | |
| | | | |
| c) | Price(s) and volume(s) | Exercise Price | No. of shares |
| £0.2072 | 89,527 | ||
|
| |||
| d) | Aggregated information - Aggregated volume - Price - Aggregated total | N/A - single transaction | |
| e) | Date of the transaction | 18 September 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the persons discharging managerial responsibilities/person closely associated | ||
| a) | Name | Ross Gardner- 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 | Options over Ordinary shares of 0.001 pence each
ISIN: GB00BSL71W47 | |
| b) | Nature of the transaction | Grant of options | |
| | | | |
| c) | Price(s) and volume(s) | Exercise Price | No. of shares |
| £0.2072 | 89,527 | ||
|
| |||
| d) | Aggregated information - Aggregated volume - Price - Aggregated total | N/A - single transaction | |
| e) | Date of the transaction | 18 September 2023 | |
| f) | 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
| +44 (0)330 223 1430
|
| Canaccord Genuity Limited (NOMAD and Joint Broker) | +44 (0)20 7523 8000 |
| Simon Bridges, Emma Gabriel | |
|
| |
| Singer Capital Markets (Joint Broker) | +44 (0)20 7496 3000 |
| Harry Gooden, James Moat | |
|
| |
| FTI Consulting | +44 (0)20 3727 1051 |
| Tom Blackwell, Jenny Boyd | |
| 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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