Mercia Asset Management Share Discussion Threads

[lord gnome] 30/1/2020 15:31

Some big trades going through today. Looks like any overhang is being cleared down at placing price. One trade of 25 millions noteworthy.

[redartbmud] 29/1/2020 11:12

Directors taking the mickey - again!!

[davebowler] 29/1/2020 11:02

Already posted??

[p1nkfish] 29/1/2020 08:14

Totally agree PA, INS and others are the same. Have to plow through annual reports.

[pavey ark] 29/1/2020 07:37

I don't mind options but I should be given the condition/details without having to look for them.

[p1nkfish] 29/1/2020 07:30

I dont mind options but come on FFS, at least try to deliver.

Devalued once, ignored PIs in fund raise and now issue again at low-ball.

Thoughts?

[damp seaweed] 24/1/2020 16:05

Has anyone got any idea when we might expect an update from Mercia.

[p1nkfish] 18/1/2020 09:24

Exactly wan. Areas to get Oxford and Cambridge type focus.

[wan] 18/1/2020 08:49

It's also worth considering that the regions Mercia is targeting are outside of London e.g. stretching through the midlands to the north, and it's perhaps worth noting that the government is targeting the exact same regions for large investment and expansion.

[alangriffbang] 16/1/2020 20:14

What’s happened to chimers looks like he’s done a runner again ,

[pavey ark] 16/1/2020 19:22

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.

Anyway....you pays your money and you takes your chance.

[lord gnome] 16/1/2020 14:40

I’ve added as well today. Just 25.8p to buy. Somebody keen to sell is driving down the share price and doesn't seem to care.

[cheshire man] 16/1/2020 14:02

Yes lth are disgruntled but as you say we are where we are

[pavey ark] 16/1/2020 11:12

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!!

[cheshire man] 16/1/2020 07:43

More positive news this morning with nDreams :-)

[srichardson8] 30/12/2019 12:49

'Joint brokers N+1 Singer and Canaccord Genuity were worried that retail shareholders could drive the price down by selling out during the fundraising. So they restricted it to institutions.'
This quote from the article linked above shows such naivety as to be laughable. The reason brokers want quick institutional placements is for the simplicity and speed which makes them profitable in a short space of time. I am also unclear as to how this has helped the reduction in Woodford/Invesco investments or am I missing something?
The valuation of the company depends on the reliability of their own and their advisers' NAV valuations.

[wan] 30/12/2019 10:36

They admit it was a mistake, but I agree what's done is done! Let's see if they can now deliver better things to all investors -

29th December 2019
Mercia contrite over small investors left out of £30m fundraising
Group needed money to buy two VCTs and allow Invesco and Woodford fund to cash out

“It was a mistake and I am sorry,” Mr Payton told Small Talk.

Paul Morland, analyst at Panmure Gordon, expects compound annual growth of 15 per cent as Mercia’s portfolio matures.

He notes that the value of its assets grew 4 per cent to £102m. It has £18m cash. Yet its market capitalisation is just £77m. 

Without the shadow of Woodford and Invesco, the shares should hit 49p, Mr Morland said.

Full story FT.com -

[chimers] 30/12/2019 10:03

It was handled very badly by management but what is done is done.

The main thing is it was not some usual AIM disaster like money going missing along with the finance director or some other such scam.

The instis will want their pound of flesh so we at least now have a clear road ahead.

[its the oxman] 30/12/2019 10:01

Hoping double bottom now in place.

[its the oxman] 30/12/2019 10:00

With valuations across the market having moved up, seems unlikely this will not break 30p again.

[p1nkfish] 24/12/2019 23:32

This one will be fine.

[roddiemac2] 24/12/2019 18:42

iamgreat1,

You are also silly--, and that is putting it politely

alangrifbang

Happy new year to you, when it comes.

+eysenck,

It is not a good idea to seek advice from anonymous posters on bulletin boards.

[alangrifbang] 24/12/2019 18:30

Happy new year to you all your going to need it,