Business
Completion of Acquisition
Completion of Acquisition.
About this update from Mercia Asset Management Plc
[{"type":"text","content":"\n \nRNS Number : 8708X Mercia Asset Management PLC 23 December 2019 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF IRELAND, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n23 December 2019 \nMercia Asset Management PLC\n(\"Mercia\" or the \"Company\")\nCompletion of Acquisition\n \n \nMercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager, is pleased to announce that, further to the announcements made on 3 December 2019 and 20 December 2019, it has today completed the Acquisition of the venture capital trust (\"VCT\") fund management business of NVM Private Equity LLP.\n \nIt is therefore expected that admission will become effective in respect of the 16,800,000 Initial Consideration Shares at 8.00 a.m. on 27 December 2019 and as a result, the issued share capital of the Company will increase to 440,109,707 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury.\nThe above figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.\nThe definitions referenced in this announcement remain with the same as those from the announcement published at 7.01 a.m. (UK) on 3 December 2019, unless otherwise stated. \n \nCommenting on completion of the Acquisition, Dr Mark Payton, Chief Executive Officer of Mercia Asset Management PLC, said: \n \n\"I'd like to welcome all of our new shareholders and the VCT investment team to Mercia. We also look forward to serving all shareholders of the three NVM VCTs and thank their respective boards of directors for placing their faith in us.\n \nLess than six months ago Mercia's free float was c.23%. Today it is c.69%. This is just one of the many positive outcomes arising from the Placing and Acquisition and we look forward to updating all Mercia shareholders as our newly enlarge...