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Pin to quick picksMercia Asset Regulatory News (MERC)

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First day of dealings

18 Dec 2014 08:01

RNS Number : 1084A
Mercia Technologies PLC
18 December 2014
 



THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

18 December 2014

 

Mercia Technologies PLC

 

First day of dealings

 

Mercia Technologies PLC (AIM: MERC, "Mercia" or the "Company"), a Midlands based leader in the funding and commercialisation of technology businesses in the UK, announces the commencement of dealings in its Ordinary Shares on AIM today, under the ticker code MERC and the ISIN number of GBOOBSL71W47.

 

Mercia's business is the creation, funding and development of technology businesses nationally with an emphasis in the Midlands and the North of the UK. Mercia brings technology transfer, company formation, incubation, commercialisation and investment, to technology ventures.

 

Mercia has a well seeded portfolio and pipeline of investments. The Company has a direct investment in 11 operating companies and access to a portfolio of 38 businesses through its third party funds, managed by its wholly owned subsidiary Mercia Fund Management ("MFM").

 

 

Placing statistics

 

Placing price per ordinary share

50p

Gross proceeds of the Placing for the Company

£70 million

Percentage of enlarged share capital in public hands on Admission

17.98%

Market capitalisation at the placing price

£106 million

Number of Ordinary shares in issue following Admission

212,000,000

 

Cenkos is acting as the Company's Nominated Adviser and Broker.

 

Mark Payton, Chief Executive of Mercia Technologies PLC, said:

 

"With our successful fund raising and Admission to AIM today, we are in strong position to accelerate the development of our diversified portfolio of technology companies with high growth potential, whilst we scale our own model to include geographic expansion and the further strengthening of our team."

 

Enquiries:

 

Mercia Technologies PLC (www.merciatechnologies.co.uk)

+44 (0) 330 223 1430

Mark Payton, Chief Executive Officer

Martin Glanfield, Chief Financial Officer

Cenkos Securities

+44 (0) 20 7397 8900

Ivonne Cantu / Michael Johnson

Instinctif Partners

+44 (0) 20 7457 2020

Adrian Duffield / Kay Larsen

 

 

IMPORTANT NOTICE

 

This announcement has been issued by, and is the sole responsibility of, the Company. This announcement is for information only and does not constitute an offer or invitation to subscribe for or otherwise acquire or dispose of any securities or investment advice in any jurisdiction in which such an offer or solicitation is unlawful, including without limitation, the United States, Australia, Canada, South Africa or Japan.

 

This announcement does not constitute or form part of, and should not be construed as, an offer to sell or issue, or a solicitation of any offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. Investors should not subscribe for or purchase any shares referred to in this announcement except on the basis of information in the admission document (the "Admission Document") to be published on or around 15 December 2014 by the Company, in connection with the proposed placing and admission of the ordinary shares in the capital of the Company to trading on AIM, a market operated by London Stock Exchange plc. Copies of the Admission Document will be available following its publication during normal business hours on any day (except Saturdays, Sundays and public holidays) from the registered office of the Company.

 

FORWARD-LOOKING STATEMENTS

 

Certain statements included in this announcement may contain forward-looking information concerning the Company's strategy, operations, financial performance or condition, outlook, growth opportunities or circumstances in the sectors or markets in which the Company operates. By their nature, forward-looking statements involve uncertainty because they depend on future circumstances, and relate to events, not all of which are within the Company's control or can be predicted by the Company. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Actual results could differ materially from those set out in the forward-looking statements. Nothing in this announcement should be construed as a profit forecast and no part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company, and must not be relied upon in any way in connection with any investment decision. Any forward-looking statements made herein by or on behalf of the Company speak only as of the date they are made. Except as required by the FCA, the London Stock Exchange or by applicable law or the AIM Rules for Companies, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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