Last checked at 17 Apr 2018 07:00
RNS | 17 April 2018 |
Mercia Technologies PLC("Mercia" or the "Group")
Board Change
Mercia Technologies PLC (AIM: MERC), the national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions, announces that Matthew Mead, Mercia's Chief Investment Officer, has notified the Group of his desire to step down from the Board and from his role as Chief Investment Officer with immediate effect, in order to pursue a portfolio advisory career. Following a handover period, Matt will remain working part-time with the Group as a Venture Partner, sitting on several investment panels for Mercia's managed funds. Matt will ensure an orderly handover of responsibilities to Mercia's current Head of Technology Investments, Julian Viggars, who is promoted to Chief Investment Officer and joins Mercia's Board with effect from today.
Julian joined Enterprise Ventures Group Limited ("Enterprise Ventures") in 2004 and has over 20 years of venture capital experience, including the successful listings of companies such as Blue Prism Group plc and Xeros Technology Group plc. Julian joined Mercia through the 2016 acquisition of Enterprise Ventures and has worked closely with Matt in leading the combined investment teams and managing the pipeline of Mercia's future 'Emerging Stars'. Alongside his deep knowledge of the technology sector, Julian is Fund Manager for the Northern Powerhouse Investment Fund ("NPIF"), the RisingStars Growth Funds and the Finance Yorkshire Seedcorn Fund, which together include the successful quoted businesses Blue Prism Group plc, Xeros Technology Group plc, and Optibiotix Health plc, amongst others.
Julian Viggars holds the following Ordinary shares and options:
PDMR | Total number of Ordinary shares | Number of options over Ordinary shares |
Julian Viggars | 424,325* | 400,000 |
*Including 75,000 Ordinary shares held by Mrs Emma Viggars
Further information on Julian, as required by Schedule 2 (g) of the AIM Rules for Companies, is included within the appendix to this announcement.
Dr Mark Payton, CEO of Mercia Technologies PLC, said:
"I'd like to thank Matt for his work during the last three years. Working with Julian, he has provided valuable leadership in combining both Mercia's existing and Enterprise Ventures' investment teams, as well as offering important insight across all four of our technology sectors, including leading Mercia's recent successful exit from Science Warehouse. We look forward to continuing to work with him in his future advisory role as a Venture Partner.
"We are pleased to welcome Julian Viggars onto Mercia's Board as Chief Investment Officer and believe that his significant technology investment experience and successful exit track record will undoubtedly benefit the Group as it enters its next phase of value creation and realisations."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information, please contact
Mercia Technologies PLC | +44 (0)330 223 1430 |
Mark Payton, Chief Executive Officer | |
Martin Glanfield, Chief Financial Officer | |
www.merciatech.co.uk | |
Cenkos Securities plc | +44 (0)20 7397 8900 |
Stephen Keys, Camilla Hume (NOMAD and Joint Broker) | |
Canaccord Genuity Limited | +44 (0)20 7523 8000 |
Simon Bridges, Emma Gabriel (Joint Broker) | |
Buchanan | +44 (0)20 7466 5000 |
Bobby Morse, Chris Lane, Stephanie Watson | |
www.buchanan.uk.com | |
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 £350.0million under management following recent mandate wins) 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 £46.0million directly across its portfolio of 'Emerging Stars'.
Appendix
Pursuant to Schedule 2 (g) of the AIM Rules for Companies, Julian George Viggars (aged 50) has held the following directorships or partnerships in the past five years:
Current
Enterprise Ventures Limited
Enterprise Ventures (General Partner NPIF YHTV Equity) Limited
Enterprise Ventures (General Partner NE Venture) Limited
Enterprise Ventures (General Partner Midlands POC) Limited
Enterprise Ventures (General Partner Midlands Equity) Limited
Mercia Fund Management (Nominees) Limited
Mercia Fund Management Limited
Mercia Growth Nominees 6 Limited
Mercia Growth Nominees 5 Limited
Xeros Technology Group Plc
Xeros Limited
Secondary Partners LLP
Enterprise Ventures (General Partner Risingstars) Limited
Enterprise Ventures (General Partner FY Seedcorn) Limited
Enterprise Ventures (General Partner Risingstars II) Limited
Enterprise Ventures (General Partner NW Venture) Limited
Electro-Medical Limited
Blackley Holdings Limited
Blackley (2010) Limited
Previous
Platform Diagnostics Limited
Ffrees Family Finance LimitedPeckforton Pharmaceuticals LimitedCarlton Manufacturing LtdInertius Limited (dissolved)
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.