REG - Mercia Asset Mgt PLC - Trading update and notice of results

Mercia Asset ManagementAnnouncement

16/04/2025 07:00

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RNS Number : 1520F  Mercia Asset Management PLC  16 April 2025

 RNS  16 April 2025

 

Mercia Asset Management PLC

 

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

 

Year end trading summary, notice of full year results and directorate change

 

Mercia Asset Management PLC (AIM: MERC), the regionally focused, specialist
alternative asset manager with over £1.8billion of assets under management,
is pleased to provide a trading summary for the financial year ended 31 March
2025 ("FY25").

 

The benefits of Mercia's increasing scale are now beginning to feed their way
into the Group's overall financial performance. Together with a continuing
focus on efficiency, Mercia now expects its EBITDA for FY25 to be materially
ahead of current market expectations.

 

In the last three months existing fund mandate increases, new fund management
contracts awarded and successful VCT and EIS fund raises, have totalled
c.£250million, which represents a very strong performance. There were no
redemptions during FY25.

 

Mercia's direct investment portfolio continues to make good overall technical
and commercial progress, despite a continuing challenging market backdrop for
venture investing, reflecting the strong fundamentals of the portfolio.

 

Mercia's closing cash and cash equivalents position as at 31 March 2025 was
c.£40million, and the Group remains debt free.

 

Notice of full year results

Mercia will announce its full year results for FY25 on Tuesday 1 July 2025.

 

An analyst webcast will be given at 9.30am on the day of results. Analysts
wishing to register are asked to contact mercia@fticonsulting.com
(mailto:mercia@fticonsulting.com)

 

In addition, as part of its continuing commitment to open communication with
all shareholders, Mercia is pleased to announce that it will also provide a
live presentation and Q&A via the Investor Meet Company platform, at
3.00pm on the same day. Registration details will be provided nearer the
announcement date.

 

Directorate change

After seven years as Chief Investment Officer, Julian Viggars has today
stepped down from Mercia's Board, to enable him to concentrate all of his time
on the Group's equity portfolios' investment performance.

 

Dr Mark Payton, CEO of Mercia Asset Management PLC, commented: "We are pleased
to update that Mercia has had an excellent finish to the financial year. Our
second successive year of significant fourth quarter organic fund inflows,
coupled with a strong trading performance, is testament to our clear strategy
of focusing on growing our profitable specialist asset management
capabilities. It also reflects Mercia's increasing ability to effectively
deploy equity and debt funding across the UK, through our established regional
footprint of 11 offices and our extensive deal flow networks, to generate
attractive returns over time for our investors.

 

"Our debt free cash position as at 31 March 2025 of c.£40million, means that
Mercia has entered the new financial year in a very healthy position. We look
forward to announcing our FY25 full year results on Tuesday 1 July 2025."

 

 

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law in
the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 and
as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this announcement, this
information is now considered to be in the public domain.

 

 

- Ends -

 

For further information, please contact:

 

 Mercia Asset Management PLC                          +44 (0)330 223 1430

 Mark Payton, Chief Executive Officer

 Martin Glanfield, Chief Financial Officer

 www.mercia.co.uk (http://www.mercia.co.uk/)

 Canaccord Genuity Limited (NOMAD and Joint Broker)   +44 (0)20 7523 8000
 Simon Bridges, Andrew Potts, Harry Gooden

 Singer Capital Markets (Joint Broker)                +44 (0)20 7496 3000
 Charles Leigh-Pemberton

 FTI Consulting                                       +44 (0)20 3727 1051
 Tom Blackwell, Jenny Boyd
 mercia@fticonsulting.com

 

About Mercia Asset Management PLC

Mercia is a proactive, specialist alternative asset manager focused on
supporting regional SMEs to achieve their growth aspirations. Mercia provides
capital across its four asset classes of venture, debt, private equity and
proprietary capital: the Group's 'Complete Connected Capital'.

 

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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