Member Info for Scharnhorst

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. 😉

NatWest aren’t following the lead of the central banks. They paid us £500 to open a couple of current accounts and have generously provided a no-fee 14 month 0% rate for a £6k credit card balance transfer. Maybe I should write a letter of thanks to Nigel?

Pose your question on their website contact form. I find them responsive.

I don’t know about idle cash. It’s a buffer in difficult times. Everything is peachy just after selling nDreams, but if they hadn’t been able to make that sale due to something like the Wall Street Crash that has been predicted for years but hasn’t happened yet, they wouldn’t have looked clever coming back to market to raise money to keep the portfolio companies solvent. When the financial backdrop improves they won’t need such a big buffer. At the moment I believe their aim is to maintain enough cash to service the portfolio for two years.

I agree with re-investment of cash as they’re good at it and in the long run the benefit to the company will be far higher than share buy-backs. I’m also a fan of dividends. Company sales from the portfolio are lumpy whereas dividend returns of cash to investors are regular and progressive. Mercia has a prudent CFO and I trust his management of the company finances. He keeps getting asked about share buy backs and gives coherent and well argued responses. The issue will no doubt be raised again at the interims presentation. It’s becoming tiresome for old hands but it’s a valid question and they will be attracting new investors who aren’t familiar with previous presentations. I am looking forward to a dividend increase in the interims.

I like your ambition. Mercia has performed when the market hates UK small caps and private equity. Imagine life when sentiment turns.