| RNS | 5 August 2024 |
Mercia Asset Management PLC
("Mercia", the "Group" or the "Company")
Grant of Options
Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager with c.£1.8billion of assets under management, announces that options (the "Options") over a total of 950,000 new Ordinary shares with a nominal value of £0.00001 each in the capital of the Company ("Ordinary Shares") were awarded on 2 August 2024 pursuant to the 2014 Mercia Company Share Option Plan at an exercise price of 34.8 pence per Ordinary Share (being the closing mid-market price of an Ordinary Share on 2 August 2024). The Options will, subject to the satisfaction of the performance condition, vest in three equal tranches on the third, fourth and fifth anniversary of the date of grant of the Options.
The Options represent, in aggregate, 0.21 % of the existing Ordinary share capital of the Company and have been issued to a number of employees of the Company, including one person discharging managerial responsibilities ("PDMR").
Following the grant of these Options, the Company has a total of 38,890,542 options in issue pursuant to the 2014 Mercia Company Share Option Plan, equating to approximately 8.7% of the existing issued Ordinary share capital of the Company.
Following the grant of these Options, the PDMR holds the following options:
| Name | Role | Grant of Options over Ordinary Shares | Total number of options over Ordinary Shares |
| Ross Gardner | PDMR - Group Financial Controller | 200,000 | 250,000 |
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by person discharging managerial responsibilities.
| 1 | Details of the persons discharging managerial responsibilities/person closely associated | ||
| a) | Name | (i) Ross Gardner
| |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR of the Company | |
| b) | Initial Notification /Amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Mercia Asset Management PLC | |
| b) | Legal Entity Identifier | 213800A1Q4CF57NECG66 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument
Identification code | Ordinary shares of £0.00001 each
ISIN: GB00BSL71W47 | |
| b) | Nature of the transaction | Grant of options | |
| c) | Currency | GBP | |
| d) | Price(s) and volume(s) | Exercise Price | No. of shares |
| 34.80 | 200,000 | ||
|
| |||
| e) | Aggregated information - Aggregated volume - Price - Aggregated total | N/A - single transaction | |
| f) | Date of the transaction | 2 August 2024 | |
| g) | Place of the transaction | Outside a trading venue | |
-Ends-
For further information, please contact:
| Mercia Asset Management PLC Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer
| +44 (0)330 223 1430
|
| Canaccord Genuity Limited (NOMAD and Joint Broker) | +44 (0)20 7523 8000 |
| Simon Bridges, Emma Gabriel | |
| | |
| Singer Capital Markets (Joint Broker) | +44 (0)20 7496 3000 |
| Charles Leigh-Pemberton | |
|
| |
| FTI Consulting | +44 (0)20 3727 1051 |
| Tom Blackwell, Jenny Boyd | |
| mercia@fticonsulting.com |
About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of venture, private equity, debt and proprietary capital: the Group's 'Complete Connected Capital'.
The Group has a strong UK footprint through its regional offices, university partnerships and extensive personal networks, providing it with access to high-quality deal flow.
Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".
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