Business
Re. Admission to AIM of Concepta PLC
Re. Admission to AIM of Concepta PLC.
About this update from Mercia Asset Management Plc
[{"type":"text","content":"\n \nRNS Number : 2163F Mercia Technologies PLC 26 July 2016 \n\n\n\n\n\n\n\n\n26 July 2016\n\n\n\n\n \nMercia Technologies PLC\n(\"Mercia\" or \"the Company\" or \"the Group\")\n \nRe. Admission to AIM of Concepta PLC\nMercia Technologies PLC (AIM: MERC), which is focused on the creation, funding and scaling of innovative businesses with high growth potential from the UK regions, is delighted to announce the successful admission of the enlarged share capital of Concepta PLC (\"Concepta\", AIM: CPT), one of its direct portfolio companies formerly named Concepta Diagnostics Ltd, to trading on AIM at 8.00am today.\nThe enlarged ordinary share capital of Concepta, comprising 109,160,573 new ordinary shares, is admitted to trading by way of a reverse takeover of Frontier Resources International plc (\"Frontier\"). At a General Meeting on 25 July 2016, Frontier's shareholders accepted all proposed resolutions, therefore completing the subscription, placing and open offer to raise £3.5 million in new funds to support the continued growth of the business, with Mercia investing £1.0 million as part of the placing.\nMercia now directly holds approximately 18.32% of the total share capital following the transaction. The Group has previously invested third party funds and early stage capital through Enterprise Ventures, which was acquired by the Group in March 2016. This transaction reinforces the strategic rationale behind the Enterprise Ventures acquisition, demonstrating how the expanded pipeline of third party funds, from which the Company can choose to make direct investments like Concepta, offers the opportunity to build considerable shareholder value over time. \nConcepta is a healthcare company operating in the area of fertility and, more specifically, in the global market segment of unexplained infertility. Concepta's market-ready products target the personalised mobile health market.\nDr. Mark Payton, CEO of Mercia said:\n\"We are very pleased for Concepta and believe its successful admission to trading on AIM demonstrates the substantial potential of the companies in Mercia's portfolio of direct investments and third party managed funds. I would like to congratulate the respective teams as I know significant hard work and dedication has gone into developing Concepta with the support of our Complete Capital Soluti...