Business
Placing of new Ordinary Shares to raise c.£40.0m
Placing of new Ordinary Shares to raise c.£40.0m.
About this update from Mercia Asset Management Plc
[{"type":"text","content":"\n \nRNS Number : 6298V Mercia Technologies PLC 31 January 2017 \n\n31 January 2017\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 (\"MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN RELATION TO THE COMPANY AND ITS SECURITIES.\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 OR ANY OF ITS TERRITORIES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nMercia Technologies PLC\n(\"Mercia\", the \"Company\" or the \"Group\")\nPlacing of new Ordinary Shares to raise approximately £40.0million\n \nMercia Technologies, a national investment group focused on the creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions, is pleased to announce a conditional placing of, in aggregate, 86,956,521 Placing Shares at 46 pence per Placing Share. The Placing Price represents a discount of approximately 8.9 per cent. to the closing mid-market price of 50.5 pence per Ordinary Share on 30 January 2017 (being the last practical date prior to the announcement of the Placing).\n \nOnce completed, the gross proceeds from the Placing will be approximately £40.0million. The primary purpose of the Placing is to accelerate the development of the Group's existing portfolio companies and to capture the opportunity to invest in new direct investment opportunities across its target sectors nationally and specifically within the UK regions. The number of opportunities has been significantly enha...