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Mercia Asset Management Plc

0.00 (0.0%)
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
  0.00 0.0% 26.50 98,601 07:34:33
Bid Price Offer Price High Price Low Price Open Price
26.00 27.00 26.50 26.50 26.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Finance Services 23.18 26.10 5.90 449.15 0.12
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:00 O 12 27.00 GBX

Mercia Asset Management (MERC) Latest News

Mercia Asset Management (MERC) Discussions and Chat

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Date Time Title Posts
02/5/202314:10Mercia Technologies PLC1,243
01/3/202122:09Mercia Technologies PLC61
29/1/201421:58The new SL500 came today14
24/11/201107:05Merchant Secs37

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Mercia Asset Management (MERC) Most Recent Trades

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Mercia Asset Management (MERC) Top Chat Posts

Top Posts
Posted at 10/3/2023 15:52 by pavey ark
Over the last three years I have bought six tines (61.5k) and sold three times (25k)

Cost of net 37.5k shares comes out at 16.2p/share

In the interests of transparency I had a c. 30k shares when I transferred to my new spreadsheet three years ago but not going back to dig through those ( I certainly bought a fair few when the price fell below 30p in 2018)

Now I overlaid five PE funds against MERC over a three year range (easy to do on ADVFN) and found that only one outperformed MERC over these three years (and not by much).

Note : not all of the PE funds pay a dividend.

I consider MERC to be a PE firm and their portfolio of investment has always looked attractive to me.
I have no gripe with the management ....they are what they are ....I don't want to be their pal.
I consider that this management team know what they are doing and they appear to do things well.
Happy to hold so will put these back to one side as they certainly fill a space in my range of investments.

Posted at 10/3/2023 13:41 by reabank
Some interesting comments. I'm invested in Mercia, but always find it an "on the other hand" investment. The good news is that unlike most private equity funds the fund manager isn't external. Therefore whilst other funds get slapped with an investment management charge, Mercia gets an income from managing other funds and makes a profit on investment management. I'm not convinced that is reflected in the share price. On the other hand there's an issue around how management is valuing investments. I accept where Mercia sells out it's generally at a premium to the previous accounts valuation but what about investments that don't work out? There must be a temptation to let these run rather than face up to losses. That's an issue for all private equity funds. Best way to handle it is a steady stream of disposals and management generally acting in an appropriate fashion to give investors confidence in their valuations. I guess Oakley have made a better job of that than Mercia over the last 12 months.
Posted at 10/3/2023 12:40 by p1nkfish
This applies to MERC too. Agree, if higher income and growth potential possible elsewhere, move out of MERC. You might be here a while and the divi doesn't compensate.

I'm in the money here, filled boots around 18p but temptation is strong elsewhere.

"Anything long dated & liquid, unless it's lucky enough to have some positive momentum, is way out of favour. Value doesn't matter currently as money could be stranded and dead for ages in such vehicles. Jam tomorrow, irrespective of NAV discount, isn't enough. IPO an example."

Posted at 10/3/2023 11:46 by pavey ark
Well I appreciate the recent posts as they did encourage me to have a look (again) at the recent figures and news from MERC.

The company figures show that things are certainly going in the correct direction.

I expect the dividend to increase yet again so should be over 1p.

The cash balance is close to 50% of the market cap and the discount to (very real) NAV is probably over 40%.

As MERC usually sell their holding at above their listed value this discount could be even greater.

Once again private investors fail to grasp that management have little control over the share price.....but the market and the market makers do call the shots.

This management are probably simply average in their desire to make as much from the company as they can but they do seem to be good at running MERC which is better than the greedy AND incompetent management teams that can be found.

MERC is profitable , cash rich and has the means to increase the value of their investments significantly.

They certainly get more right than they get wrong ....if this is not reflected in the share price buy more or sell your holding ....thems the rules !!

Posted at 03/3/2023 13:16 by kasspass
Can't understand why the share price doesn't reflect the apparent positive outlook projected by management. Sp has been on a downhill for a while now.
Posted at 07/12/2022 17:45 by pavey ark
Certainly not wanting to get in this bun fight but just a bit confused.

redartbmund, not sure what you mean by "return to shareholders" ....if there is a venture fund and the assets do well (sold) then the cash can be returned to the fund and ultimately taken out.

If MERC shareholdings do well (sold) the asset value of the shares increase but it is then up to the "market" to put a value on these assets.

All types of management will tell you that they have little control over the share price.....I usually doubt that but it is the oft quoted line.

Again , not going to get involved in any slagging match here but just wondering if I've missed something regarding any bias/favoured treatment given to MERCs funds under management over shareholders.(I have a reasonably large holding here but I just assume it is jogging along without any need for me to monitor things )

Regarding the management I don't consider them better or worse than any other and they are rather obviously here to make as much money as they can.....for themselves !!

Posted at 16/11/2022 15:20 by p1nkfish
Their track record in attitude to PI's has been less than brilliant but I swallowed my ire and bought a lot towards 20p and below a while back - no regrets from me. The price was too attractive.

I hope they realise that PI's matter especially if they want a share price that reflects the value. Ignore the wider shareholder base and it will cost them in a discounted share price.

Also, supporting the regions attracted me. London/Ox/Cambs always get the lions share when there is talent and drive elsewhere that needs a hand.

Posted at 16/11/2022 14:59 by redartbmud

Too right.
I didn't paricipate in the fundraising at 46p that saw the share price fall to about 20p in very short order.
I was around when the share options lapsed, so they just reissued them. That was Paul Daniels or even Houdini at their best!

The disappointment is the fact that when they sell down an investment and boast that they sold it for a 10 to 15 multiple, it seems to make little difference to tha share price or shareholder returns. On the other hand there are some who benefit.

I tried to ask the following question:
What are the returns for the investors in the funds relative to those of the shareholders? Strangely they ran out of time before they were able to answer it.
Hey ho...


Posted at 16/11/2022 08:40 by robsy2
I went to the virtual event a few weeks back and got particularly excited about one of the featured companies, Uniphy, who have developed a patent protected "smart surface enabling technology", that the impressive CEO claims could "make them a Unicorn plus in a short space of time".
Interested, I thought I'd see how much of this we own, so I checked-out if MERC has a direct B/S holding. I couldn't find any reference to it as a direct holding and neither can I see it as a direct holding in any of the VCT's that MERC manages, so I sent them an email asking for more info.

Enviado el: 03 November 2022 09:23
Para: ''
Asunto: Direct Portfolio holdings

I am invested in Mercia and attended the investors presentation, which was very interesting.
One of the companies highlighted is Uniphy, my question is, Do we have a direct balance sheet investment in this company? I ask, because I can’t see that we do. It looks like a very interesting company so I’d be interested to know how we are involved with it , directly? or through the VCT’s or other funds?


I look forward to hearing from you.
Thanks in advance.

No response as yet. Can anyone help me? Is two weeks a reasonable time to get a reply? Does anyone else have experience or pointers about how best to get info from companies because I have two or 3 stony silences from companies I am invested in
where I have unanswered questions. Is there a better approach?

Posted at 14/9/2022 06:08 by p1nkfish
Take a look at the share price performance of IPO, GROW and get the idea of what could have happened so far. Very poor share price perfornance and discount to NAVs substantial etc etc. At least Merc has a better yield.

Mercia Asset Management share price data is direct from the London Stock Exchange
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