Share Name Share Symbol Market Type Share ISIN Share Description
Mercia Asset Management Plc LSE:MERC London Ordinary Share GB00BSL71W47 ORD 0.001P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.10 -0.41% 24.20 1,321,819 08:37:20
Bid Price Offer Price High Price Low Price Open Price
24.00 24.40 24.30 24.20 24.30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 10.68 2.57 0.86 28.1 107
Last Trade Time Trade Type Trade Size Trade Price Currency
16:31:44 O 180,000 24.20 GBX

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Date Time Title Posts
29/1/202011:12Mercia Technologies PLC507
01/8/201907:15Mercia Technologies PLC59
29/1/201421:58The new SL500 came today14
24/11/201107:05Merchant Secs37

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Mercia Asset Management Daily Update: Mercia Asset Management Plc is listed in the General Financial sector of the London Stock Exchange with ticker MERC. The last closing price for Mercia Asset Management was 24.30p.
Mercia Asset Management Plc has a 4 week average price of 23.60p and a 12 week average price of 23.10p.
The 1 year high share price is 40p while the 1 year low share price is currently 22.70p.
There are currently 440,109,707 shares in issue and the average daily traded volume is 1,251,175 shares. The market capitalisation of Mercia Asset Management Plc is £106,506,549.09.
pavey ark: Hmmmm!! the value of nDreams Han't been increased since 2018 so I would suggest a considerable upgrade is due. nDreams is currently valued at £40m but I suspect they would be looking for a good bit more than that. If the company was sold for £100m then Merc's share would be £37m or exactly the amount contained in the current market cap for the ENTIRE investment portfolio so the rest would be in for free. Perhaps it would be better if people took in the whole thing. Now: Oxford Genetics, Warwick Acoustics, Medherant, Voxpopme ....anyone? The above is the type of argument put forward By Simon Thompson in the IC before he threw a hissy but the fact that the share price then fell to below the share issue price the argument that PIs lost a chance to participate did lose much of its bite. I agree that the management didn't cover themselves in glory but I care very little about that and I always assume that management will always look after themselves. pays your money and you takes your chance.
pavey ark: I've made four separate purchases this morning and increased my holding by 25%.(yes most of those sales are buys) I'm probably done for the moment and have a reasonable holding at a hair under 28p av. I'm saying all this because I always think that it's important that people know where a particular poster is coming from. This company has had a lot to contend with this year and a number of issues of its own making and others beyond its control but having looked at these in some detail and do not consider them material ...certainly not now. Today's announcement is very significant as nDreams is not only the largest constituent in their direct investment portfolio it is in my view the most undervalued. Probably most here are of an age that the developments and potential at nDreams is lost on them but it is very undervalued and a significant premium to the £15m carrying value that must be realised soon. The most recent (and conservative) valuation of the asset management business is 12.2p/share and I make the cash to be 5.6p/share so with 440m shares we have 8.4p/share to cover the direct investment portfolio or £37m. We are now at the point that got me invested here as the most recent (Sept) valuation of the direct investments is £102m. I appreciate that some here are rather disgruntled long term holders who are seriously under water but we are where we are and my point is that it will only take MERC to exit one of their investments at a good profit and the spotlight will fall on the others. There are five or six very good looking candidates for this initial boost and when it happens the share price will certainly respond....well that's my theory!!
pavey ark: I will say again that the biggest problem here has been the time lag between the company making investment in these start-ups and making a profitable exit. If Simon Thompson recommended MERC some time ago then perhaps he should have placed more emphasis on this time delay. The main point for investors is that we are where we are NOW and the direct investment portfolio is looking very good. If you take the value of the asset management business (c. 12p)and the cash from the current share price you are getting the deal of the century on the direct investment portfolio. NB: I AM A RANDOM ONLINE POSTER .........FFS do your own thing.....all the info is there and it would only take an hour or so of your time.
pavey ark: As anyone here can now buy any amount of shares for less than the placing price I don't see what the fuss is about. I bought yesterday for a shade over 23p I also bought for much the same when the share overhang nonsense was at its peak. This management is not here to solve world hunger or to bring joy to one and all ...they are here to make money. Private shareholders in all their mock outrage would sell their shares in a heartbeat if it was to their advantage. The capitalist system is far from perfect but you all bought into it when you decided to invest here. On the specifics of the fund raising: 1. It was clear that they needed some cash to complete what looks like a good acquisition. 2. They wanted the cash now and they obviously went to the institutional investors to raise a large sum quickly. 3. The institutional investors were , like many here, in at a far greater price so the sweetener was 25p /share but they asked for more than they actually needed and said that this was their last cash call. 4. I suspect the share price at the time they were sounding out the institutional investors was less than the closing price quoted (before the announcement). All in all this seems like a perfectly normal way for a company to operate but I am not making any buy/sell suggestions as that is obviously up to the individual investor. I have no idea why Simon Thompson threw a hissy but perhaps ,as has been suggested, the management said something different to him. One alternative to all of this would have been to sell down some of their investments but selling these at the wrong time could be much more expensive than selling some shares at 25p. Not saying I'm delighted but I'm not entirely unhappy.
redartbmud: Payton good at talking the talk, and getting free shares. The share price has been nothing short of a car crash, when are we going to see a positive sustained upward valuation in the share price? Simple question.
wan: Brad_K...Mercia has 303m shares in issue (not sure where the other 2-3m came from) - Mercia Technologies PLC Placing of new Ordinary Shares to raise c.£40.0m 31/01/2017 hTTps:// 16 February 2017 Mercia Technologies PLC Result of General Meeting & Completion of Placing Following Admission, the Company will have 300,602,232 Ordinary shares in issue. hTTps:// I seem to recall the CEO saying that going forward Mercia's model would be sustainable i.e. future funding requirements would be provided by a combination of revenues from funds under management and importantly exits.
wan: The Woodford AIM shares patient investors should monitor by Andrew Hore from interactive investor | 25th October 2019 Mercia Asset Management (LSE:MERC) has undoubtedly been hit by the overhang. There was a small stake in the investment company, but this appears to have been sold because the remaining 19.99% has all been transferred to Link. The specialist asset manager had a NAV of 41.6p a share at the end of March 2019, whereas the share price has continued to decline and has reached 24.3p. That includes unrestricted cash of £29.8 million – more than one-fifth of NAV. Admittedly, Mercia has a predominantly unquoted portfolio so, just like the Woodford portfolio, the valuation of unquoted companies in the Mercia portfolio could be questioned. Even so, Mercia has a good track record and a 42% discount to NAV is too harsh. Revenues cover nearly 90% of admin expenses. Full article - hTTps://
pavey ark: Their model does seem to be working but the time scale is punishing early investors. My point isn't based on the long term merits of their model but simply that the only thing that has changed is the Woodford collapse and the subsequent uncertainty over the 20% holding. If there are no other factors involved and the business is materially the same as it was say six months ago then there should be buying at this level and not collective small investor whinging. We had a similar situation recently with BPM when the share price plunged to ridiculous levels over a problem with one of their investments. Shares could be bought for c.208p but it took Simon Thompson in the IC to say "FFS people get grip this is totally disproportionate" I paraphrase slightly. He also pointed out that efficient markets should not act in this way and that is my point here. If people can't come up with a logical cogent reason for the share price fall other than the obvious then this is a very silly price.
brad_k: wan, in your post 263 you seem to have muddled your figures. The 30m Mercia shares equates to 10% of (Mercia) share in issue, as you state, but 50%(approx) of the WIM holding. I think what we are both driving at is that as things stand MERC has a nasty share overhang which could depress the share price for months, some action by the BOD along the lines suggested above would firstly help to reduce that overhang but as you suggest it should also encourage other parties to consider taking a slug of the WIM shares themselves, they would no doubt be getting the shares at a very considerable discount to the new NAV.
p1nkfish: From the BusinessDesk today. When they use headcount increase as a measure of growth it's to take attention off the share price having languished. Usually not a good sign. "Mercia invested £13.3m in Midlands businesses in 2018, up from £11.3m the previous year, which it said highlighting its role as one of the UK’s most active investors and a key source of funding for regional SMEs. Mercia made investments in 22 companies in the region during the year, including Sigmavision of Bicester which has created a novel tyre scanner; Coventry-based Arc Vehicle, which has developed a new electric motorbike; Birmingham-based battery technology firm Aceleron, and Adapttech which has found a new way to fit artificial limbs. Mercia, which is based in Henley-in-Arden, manages funds including the £23m proof-of-concept and early stage equity fund, part of the Midlands Engine Investment Fund. During the year, the group invested £59.7m in total throughout the UK, with over 90% of it going to businesses outside of London and the South East. It also increased its third party funds under management from £350.0m to over £400.0m at 31 December. Growing by around 30% a year, Mercia now has over 80 employees in eight locations nationwide and partnerships with 19 regional universities including Birmingham, Aston, Wolverhampton, Staffordshire, Coventry, Leicester, Keele, Warwick and Birmingham City University. According to recent reports from Beauhurst, Mercia is one of the top four investors in university spinout businesses and one of the UK’s top four most active venture capitalists specifically focused on innovation. Mark Payton, chief executive of Mercia Technologies, said: “Regional cities such as Birmingham, Nottingham, Manchester, Leeds, Sheffield, Newcastle and Edinburgh are increasingly important technology hubs, however venture capital remains heavily focused on London. Mercia has offices in all of these locations and as these latest figures show, it is addressing this shortfall by sourcing and backing exceptional businesses across the UK’s regions. Building on a successful 2018, I expect Mercia to continue to scale its activities into 2019.”"
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