Mercia Asset Management Share Discussion Threads

[snickerdog] 10/2/2011 16:30

Interesting RNS too, from small acorns and all that...

Victor, can I ask if you use their advisory service or execution only? Or discretionary?

[bond1] 10/2/2011 13:23

Merchant Securities, the financial services group, is pleased to announce that it has acquired GT Independent Financial Advisers Limited ("GT"), the independent wealth management firm, for an initial consideration of £2 million, payable in a mix of cash and shares (the "Acquisition"). The initial consideration is to be satisfied as to £1 million in cash, of which £750,000 was paid on completion, with a further £250,000 payable on 9 February 2012, together with the issue of 4,347,826 new Merchant Securities ordinary shares ("Consideration Shares"). A further consideration of up to £1 million, either in cash, or up to 50 per cent. in Merchant Securities ordinary shares at the option of the Company ("Performance Shares"), may become payable, dependent on the attainment of certain revenue targets for management fee income. Any performance shares which may become payable will be issued at the average mid market price of the ordinary shares of the Company, for the five dealing days prior to issue.

The acquisition is significant, more than doubling the Group's assets under advisory and discretionary management, with the total rising to approximately £485 million, from £205 million, and is in line with the Board's strategy to grow Merchant Securities' wealth management offering significantly. The Acquisition has received the approval of the Financial Services Authority.

Established in 1986 and based in Marlow, Buckinghamshire, GT provides a range of financial planning services to a client base of approximately 3,300 private clients. Currently, GT has approximately £280 million of assets under influence. The business represents a highly complementary and synergistic fit with Merchant Securities' existing wealth management activities. In particular, Merchant Securities sees strong cross-selling opportunities, including the potential to offer its own wealth management products and services to GT's client base.

For the year ended 31 May 2010, GT generated revenues of £1.25 million and a profit before taxation of £280,000 and had net assets of £132,000 at that date. GT's managing director and former major shareholder, Tim Wall, will remain with the company and will play a significant role in the ongoing development of the Group's wealth management activities. GT will change its name to Merchant Securities Wealth Management Limited as soon as practicable.

Application for admission of the Consideration Shares to AIM has been made and it is expected that admission will become effective and that dealings in the Consideration Shares will commence on 16 February 2011.

[victor2] 10/2/2011 08:19

snickerdog,sorry so late replying to your post only just seen it,I have been client of merchants for about 3 years. would highly recommend very good service and extraordinary performance in my portfolio.Also own shares they seem to be doing well and are doing all the right things including acquisition announced today.

[snickerdog] 22/12/2010 15:37

Anyone here a client of MERC? For their advisory service?

[standtall] 22/9/2010 07:32

DJ Merchant Securities Sees 1H Results Ahead Of Last Year

LONDON (Dow Jones)--Merchant Securities Group PLC (MERC.LN), a financial services company, said Wednesday trading in the first half of the new financial year has been very encouraging, and it expects that underlying results, before non-recurring costs associated with the recent office move, for the six month to Sept. 30 will be ahead of those for the comparative period last year.

MAIN FACTS:

-This improvement has resulted from strategy to diversify the business base and from good trading performances across all the Group's activities.

-The Group's corporate finance business in particular has enjoyed a strong first half, completing four significant transactions and adding a number of new corporate clients.

-Balance sheet and net cash position are strong.

-Shares closed Tuesday at 21.5 pence.

-By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [e-mail]

(END) Dow Jones Newswires

September 22, 2010 02:29 ET (06:29 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.

[jakleeds] 22/9/2010 07:31

nice statement

[dubois] 23/7/2010 09:26

This sector has been out of favour for quite a while now. Most comanies have become leaner and more profitable. This is no exception and I do expect far far better profits on the next set of results.

[victor2] 23/7/2010 08:56

arden the companys broker have put a 30p price target on stock

[rickus] 21/4/2010 22:13

Hi Andy

Trying to work out what my holding here is worth.

Have a note saying in my spreadsheet from July 2008 that mentions a capital reorganisation.

Have just googled and found this:

"Proposed capital reorganisation of the Company's authorised and issued existing
ordinary shares from the present level of 10p per share, into one new ordinary
share with a nominal value of 1p each and one deferred share with a nominal
value of 9p each."



Have no idea what a deferred share.


EDIT
There was more than 1 page on the link:

"Capital Reorganisation
Company law prevents a company from issuing fully paid shares at a discount to the
nominal, or par, value of its shares. Accordingly, so as to leave a margin between the
nominal value of the Company's shares and the placing price, the directors of Merchant
Securities consider that it is desirable to reduce the nominal value of the Company's
authorised and issued existing ordinary shares from the present level of 10p per share.
To give effect to this it is proposed that each existing ordinary share will be sub-divided
into:
one new ordinary share with a nominal value of 1p each ("New Ordinary Shares"); and
one deferred share with a nominal value of 9p each ("Deferred Shares").
The Deferred Shares will have no voting rights and will not carry any entitlement to
receive notice of and attend general meetings of the Company. Holders of the Deferred
Shares will not be entitled to any dividend or other distribution and on a return of capital
they will be entitled to receive only the amount paid up or credited as paid up on each
Deferred Share, but only after the holders of each New Ordinary Share have received
the amount paid up on each New Ordinary Share.
Accordingly, the Deferred Shares will, for all practical purposes, be valueless and it is
the Board's intention, at an appropriate time, to make application to the High Court for
the Deferred Shares to be cancelled."

[suahb] 21/4/2010 20:21

rickus
indeed. about time huh?!!
BW
Andy

[rickus] 21/4/2010 07:57

Encouraging Trading Update this morning

[dubois] 11/2/2010 16:23

These appear to be getting their act together. A trading statement was issued about this time last year. Maybe we will get one this year.

[tts] 23/9/2009 16:02

Its because people are buying the shares!

[tivoliworldgaming] 23/9/2009 12:53

Why do these go up when no one has posted on this thread since April?.

[tivoliworldgaming] 22/9/2009 10:19

Why do these go up when no one has posted on this thread since April?.

[bond1] 29/4/2009 07:10

I looked at the Plc board, some big hitters with lots of experience. Looks like the board/management reshuffle a few months ago is finally paying off. Could be one to watch...

[victor2] 28/4/2009 20:42

very encouraging trading update cant be many brokers making money in these markets with cash equal to market cap.shares are undervalued and have been overlooked no wonder shares up 50% today

[worlds lrgest undies] 28/1/2008 13:59

these comedians just run and run..........

£4k trade and down 6%!

can anyone point to any credible action these guys have made? or are they simply imcompetant in the plc arena?

[worlds lrgest undies] 24/12/2007 22:06

my interest?

masochism probably.


shedloads, btw.

lol

[rickus] 24/12/2007 20:55

Yes, most amusing.

Why your interest here wlu - did it come via BM? Ever held? I've got a few which I thought were cheap at the time.