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1 Aug 2019 07:00
| 1 August 2019 |
Mercia Asset Management PLC
("Mercia" or the "Company")
Grant of Options
Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager, announces that options (the "Options") over a total of 3,794,000 new Ordinary shares with a nominal value of 0.001p each in the capital of the Company ("Ordinary Shares") were awarded yesterday pursuant to the 2014 Mercia Company Share Option Plan at an exercise price of 33.50p per Ordinary Share (being the closing mid-market price of an Ordinary Share on 31 July 2019). The Options will, subject to the satisfaction of the performance condition, vest in three equal tranches on the third, fourth and fifth anniversary of the date of grant of the Options.
The Options represent, in aggregate, 1.25% of the existing Ordinary share capital of the Company and have been issued to a number of employees of the Company.
Following these grants, the Company has a total of 13,372,000 unvested options pursuant to the 2014 Mercia Company Share Option Plan, equating to approximately 4.41% of the existing issued Ordinary share capital of the Company.
For further information, please contact:
Mercia Asset Management PLC | +44 (0)330 223 1430 |
Mark Payton, Chief Executive Officer |
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Martin Glanfield, Chief Financial Officer |
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www.mercia.co.uk |
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Canaccord Genuity Limited | +44 (0)20 7523 8000 |
Simon Bridges, Emma Gabriel (NOMAD and Broker) |
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Buchanan | +44 (0)20 7466 5000 |
Chris Lane, Vicky Hayns, Stephanie Watson |
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www.buchanan.uk.com |
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About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital; the Group's 'Complete Capital Solution'. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.
The Group has a strong UK regional footprint through its eight offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia has over £500million of assets under management and, since its IPO in December 2014, has invested over £84million across its direct investment portfolio.
Mercia Asset Management PLC is quoted on AIM with the epic "MERC".
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