The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I’m expecting a bid at some stage. Big cash pile, good reputation, assets under management growing fast, well positioned for UK turnaround, especially with our British Business Bank relationship. That is meaningful. Like us, Maven were recently awarded BBB contracts. Maven were taken over by Mattioli Woods in 2021 and they are currently being taken over by Pollen Street Capital. Things are moving.
You’re welcome MiG. Ray Chamberlain was non-exec chair of Mercia at IPO and is a staunch supporter. He was executive chair and main shareholder of Forward Group plc which was successfully sold in the 90s. The name lives on in Forward Innovation Fund and Forward Nominees which are listed in the MERC Annual Report as significant shareholders in Mercia and in which Ray has an interest. I don’t know how many shares Ray holds directly in Mercia but I’m told he has never sold a single share in the company. I’ve met him, he’s a very nice bloke and passionate about encouraging small and medium sized companies in the regions. The UK needs more like him imo.
The director didn’t sell shares.
The Shares were sold on 21 March 2024 at 32.50p per share by non‐Chamberlain family shareholders. None of the shares sold were held personally by Ray Chamberlain.
You can tell from share buy back profile over time that they're mopping up weak PIs. It's beneficial for me that shares are bought back well below NAV so no complaints. Times might be hard for some but it hasn't stopped Mercia closing out the Northern Venture Trust offer which is fully subscribed for £14m plus £6m extension. I expect NVT2 and NVT3 to follow suit.
Thanks for the clarification MIG. Resolution 11 at the agm gave them the authority to repurchase up to 10% of ordinary shares so they’re operating within that remit. When you put your figure up I wondered if our directors thought there was a chance the share price could drop to 9p. Nothing will surprise me in this market for small caps but I hope to put that thought away along with the mauser. Have a good one.
I don't know how you arrive at 44m shares for possible repurchase MIG. They have £5m to spend, so to take 44m shares off the table the average price during the repurchase would need to be 9p. If we drop that low I'll be having a night in with a bottle of schnapps and a mauser. Have a nice holiday. I've asked santa for 'Hitler and Stalin' by Laurence Rees to remind me of the good old days. I have high hopes for 2024. After all, it was Himmler's idea to send undesirables to a colony in Africa.
£5m set aside for share purchases, equating to about 17m shares at the current price. They’ve not done a tenth yet so your figures are way out.
You haven’t a clue what you’re talking about.
The direct investments are financed with cash for equity. For me the biggest risk is if partners baulk at a funding round and merc can’t carry it on their own as happened with sense. merc’s stake was far too small and they were at the mercy of a big investor who pulled the plug on further funding
I’m thinking you maybe need Eyoto’s services ahead of Warwick’s Boards. Your first mate might get some attention at an Eldorado lock-in, but would be walking the plank off my vessel.
The EIS is showing in the results as a minor sideline barchid. I recall Matick gushing about Sense Biodetection so I’ll give him a miss.
I’ve been keeping an eye on your favourite violinist and he’s played plenty of dischordant notes over the last couple of years. I guess it’s the way the markets are at the mo.
Always good to see CFO buying a meaningful amount.
Martin Glanfield, Director and Chief Financial Officer of the Company, became beneficially interested in a further 145,829 Ordinary Shares. These shares were bought yesterday at 28.80p per share.
I mentioned some block trade sales below the bid yesterday. Previously such trades were absorbed at the mid-point where there were matched buyers. Perhaps there isn’t much interest from third parties at the moment so Mercia are taking up the slack with the buy-back. I’d rather have received a special dividend but perhaps it’s needs must.
Around 8m shares sold in three blocks at 25.5p when spread at 27-28p. Someone was selling blocks at around 21p recently so I 25.5 seems good in comparison. One or more of the large holders covering redemptions?
Apparent sales today at 27.49p are buys
Selling nDreams has taken out a big chunk of their gaming portfolio. Let’s see what they say tomorrow.
Dear Santa MERC, more like Oxgene, Faradion and nDreams please. Big stakes at an early stage. Not so much Sense Biodetection if you don’t mind. A small percentage in an already overhyped stock left you exposed and you blew your £2m stake in 2 years. Lesson learnt hopefully.
I’m not convinced by this Athena bird Boards. Say something pet or put the kettle on.
https://engagevr.io/ai/
In my account I ticked the box to allow marketing communications and got a promotional email. The code is BLACKFRIDAY25 and it runs until midnight Monday.
25% off all tests. I find their online ordering system very efficient. I'm convinced we're over the worst and 2024 will see a big improvement.
The £500 paid for a Meta Quest 3. It has the unexpected perk that when my wife calls during the day I can honestly say I’m up to the eyes in a big power wash job. 😉