Mercia Asset Management PLC
("Mercia", the "Group" or the "Company")
PDMR / Director Dealings
Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager, announces that it has received a notification of the following transactions relating to Ordinary shares of £0.00001 each in the capital of Mercia ("Ordinary Shares") by a Director.
For tax planning purposes Ray Chamberlain, a Non-executive Director of the Company, sold 6,149,752 Ordinary Shares at 26.6p per share, all of which were bought by Forward Nominees Limited (as nominee for certain members of the Chamberlain family and close associates (including Ray Chamberlain)) (the "Transactions").
Following the Transactions Ray Chamberlain will cease to be personally interested in any Ordinary Shares but will continue to be indirectly interested in 64,824,766 Ordinary Shares via:
· Forward Innovation Fund (38,072,336 Ordinary Shares);
· Croftdawn Limited (3,994,786 Ordinary Shares);
· Mercia Growth Nominees Limited (126,436 Ordinary Shares);
· Forward Nominees Limited (as nominee for certain members of the Chamberlain family and close associates (including Ray Chamberlain)) (22,631,208 Ordinary Shares).
In aggregate, the total number of Ordinary Shares in which Ray Chamberlain is interested remains unchanged, representing 14.73% of the Company's issued Ordinary Share capital.
The notifications below are made in accordance with the requirements of the Market Abuse Regulations.
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Ray Chamberlain |
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) |
LEI |
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 £0.00001 each ISIN: GB00BSL71W47 |
b) |
Nature of the transaction |
Sale of 6,149,752 Ordinary Shares |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
26.6p per share |
6,149,752 |
|
d) |
Aggregated information - Aggregated volume - Price |
N/A - single transaction |
e) |
Date of the transaction |
4 February 2020 |
f) |
Place of the transaction |
AIM (AIMX) |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Ray Chamberlain |
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) |
LEI |
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 £0.00001 each ISIN: GB00BSL71W47 |
b) |
Nature of the transaction |
Purchase of 6,149,752 Ordinary Shares by Forward Nominees Limited (as nominee for certain members of the Chamberlain family (including Ray Chamberlain)) |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
26.6p per share |
6,149,752 |
|
d) |
Aggregated information - Aggregated volume - Price |
N/A - single transaction |
e) |
Date of the transaction |
4 February 2020 |
f) |
Place of the transaction |
AIM (AIMX) |
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 |
|
|
|
Canaccord Genuity Limited (NOMAD and Joint Broker) |
+44 (0)20 7523 8000 |
Simon Bridges, Richard Andrews |
|
|
|
N+1 Singer (Joint Broker) |
|
Harry Gooden James Moat |
+44 (0)20 7496 3000 |
|
|
Buchanan Communications |
+44 (0)20 7466 5000 |
Chris Lane, Vicky Hayns, Stephanie Watson |
|
www.buchanan.uk.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 balance sheet, venture, private equity and debt 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 regional footprint through its eight offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia has c.£775million of assets under management and, since its IPO in December 2014, has invested over £90million across its direct investment portfolio.
Mercia Asset Management PLC is quoted on AIM with the epic "MERC".
