Mercia Asset Management PLC

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

Directorate change

Mercia Asset Management PLC (AIM: MERC), the regionally focused, private capital asset manager with c.£2.0billion of assets under management, is pleased to announce the appointment of Penny Freer as a Non-executive Director of the Company with effect from today. 

Chair of AP Ventures LLP, Penny is also a Non-executive Director of FTSE 100 company The Weir Group PLC and Chair of The Henderson Smaller Companies Investment Trust plc. Penny has previously held a number of Non-executive Director roles in both public and private companies, including as Chair of Crown Place VCT Plc and Senior Independent Director and Chair of the Remuneration Committee at Advanced Medical Solutions Group PLC.

Ian Metcalfe OBE, DL, Non-executive Chair of Mercia said:  

"We are delighted to welcome Penny to the Board as a Non-executive Director. Penny is an extremely experienced Non-executive Director and chair of remuneration committees, with deep experience of the fund management sector.  Penny's appointment completes the current evolution of the Board, and I look forward to working with my fellow Board colleagues as we remain focused on the Mercia '27 strategic objectives."

Pursuant to Schedule 2(g) of the AIM Rules for Companies, Penelope Anne Freer (aged 65) has held the following directorships and partnerships in the last five years:

Current directorships

·       AP Ventures LLP

·       Capital Markets Strategy Limited

·       Cobweb Cyber Limited

·       Pure Milk Vodka Ltd

·       The Henderson Smaller Companies Investment Trust PLC

·       Weir Group PLC (The)

·       81 Alderney Street Residents Association Limited

Former directorships

·       Crown Place VCT PLC (name changed to Albion Crown VCT PLC)   

·       Advanced Medical Solutions Group PLC

·       Empresaria Group PLC

·       London Bridge Capital Partners LLP

Penny Freer was appointed a Director of Peacock Blue Limited ("Peacock Blue") on 18 August 2005. At the time of appointment, Peacock Blue was subject to a company voluntary agreement as agreed with creditors. On 17 January 2007 administrators were appointed to Peacock Blue. On 13 August 2007 Peacock Blue moved from administration to a creditors' voluntary liquidation, and on 6 November 2010 Peacock Blue was dissolved.

Penny Freer does not hold any shares in the Company.

There is no further information required to be disclosed in respect of the above appointment pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies.

- 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)

Simon Bridges, Andrew Potts, Harry Rees, Harry Gooden                            +44 (0)20 7523 8000

Singer Capital Markets (Joint Broker)

Charles Leigh-Pemberton                                                                                    +44 (0)20 7496 3000

FTI Consulting

Tom Blackwell, Thomas Lodge                                                                            +44 (0)20 3727 1051

[email protected]

About Mercia Asset Management PLC

Mercia is a private capital 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 11 regional offices, extensive local adviser and personal networks, and university partnerships, providing it with access to high-quality deal flow.

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