Mercia Technologies PLC Board Change (8203M)

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RNS Number : 8203M

Mercia Technologies PLC

02 August 2017

 
 RNS              2 August 2017 
 
 

Mercia Technologies PLC

("Mercia" or the "Company")

Board Change

Mercia Technologies PLC (AIM: MERC), the national investment group focused on the creation, identification, funding and scaling of innovative technology businesses with high growth potential from the UK regions, announces that yesterday Martin Lamb, a Non-executive Director, has notified the Board of Directors (the "Board") of his decision to step down with effect from the Company's Annual General Meeting on 18 September 2017. This decision has been made following Martin's appointment as full time Executive Chairman of Rotork plc ("Rotork") which was announced on 28 July 2017. As a consequence of Martin stepping down from Mercia's Board, Susan Searle will become interim Chair of the Audit Committee and the three remaining Non-executive Directors will continue to sit on all Board committees.

Sapphire Partners have been appointed to lead the search for a suitable replacement Non-executive Director.

Susan Searle, Non-executive Chair of Mercia Technologies PLC said:

"On behalf of the Board, I would like to express my sincere gratitude to Martin for his contribution whilst we have scaled Mercia to the point which we are at today. He has provided invaluable support over the last few years and on behalf of all my colleagues, we wish him every success in his expanded role at Rotork."

For further information, please contact:

 
Mercia Technologies PLC 
 Mark Payton, Chief Executive Officer 
 Martin Glanfield, Chief Financial Officer 
 www.merciatech.co.uk                            [phone] 
Cenkos Securities plc 
 Ivonne Cantu / Mark Connelly (NOMAD)            [phone] 
Buchanan 
 Bobby Morse, Victoria Hayns, Stephanie Watson 
 www.buchanan.uk.com                             [phone] 
 

About Mercia Technologies PLC

Mercia is a national investment group focused on the creation, identification, funding and scaling of innovative technology businesses with high growth potential from the UK regions. Mercia benefits from 18 university partnerships and offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic "MERC".

Mercia's 'Complete Capital Solution' initially nurtures businesses via its third party funds (now with circa GBP336.5million under management following recent mandate wins) and then over time Mercia can provide further funding to its 'Emerging Stars' by deploying direct investment follow-on capital from its own balance sheet. Since its IPO in December 2014, Mercia has invested over GBP41.0million directly across its portfolio of 'Emerging Stars'.

This information is provided by RNS

The company news service from the London Stock Exchange

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August 02, 2017 02:01 ET (06:01 GMT)