Last checked at 21 Sep 2018 07:00
For Immediate Release | 21 September 2018 |
Mercia Technologies PLC
(the "Group")
AGM Statement
Mercia Technologies PLC (AIM: MERC), the national investment group focused on the identification, creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions, is today holding its Annual General Meeting. The Non-executive Chair, Susan Searle, will make the following remarks at the meeting:
"I am pleased to say that since our 31 March year end, the Group's direct investment portfolio has continued to make good overall progress, with significant commercial milestones being achieved by a number of our investee companies including Oxford Genetics, nDreams and Aston EyeTech.
"We are seeing an increasing number of exciting investment opportunities for Mercia's third-party managed funds which will, in due course, lead to further balance sheet direct investment opportunities.
"Our focus remains on growing the net asset value of the Group's direct investments by utilising Mercia's differentiated model to create long term value for shareholders. We look forward to updating shareholders on further positive progress throughout the year."
Ends
For further information, please contact:
Mercia Technologies PLC Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer www.merciatech.co.uk
| +44 (0)330 223 1430
|
Cenkos Securities plc Stephen Keys (NOMAD and Joint Broker) | +44 (0)20 7397 8900 |
Canaccord Genuity Limited Simon Bridges, Emma Gabriel (Joint Broker)
Buchanan Bobby Morse, Chris Lane, Stephanie Watson www.buchanan.uk.com | +44 (0)20 7523 8000
+44 (0)20 7466 5000 |
About Mercia Technologies PLC
Mercia is a national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions. Mercia benefits from 19 university partnerships and offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic "MERC".
Mercia's 'Complete Capital Solution' initially nurtures businesses via its third-party funds (now with circa £400million under management) and then over time Mercia can provide further funding to its 'Emerging Stars' by deploying direct investment follow-on capital from its own balance sheet. Since its IPO in December 2014, Mercia has invested over £63million directly across its portfolio of 'Emerging Stars'.