Mercia Technologies PLC Directorate Change (1156E)
02 July 2019 - 4:00PM
UK Regulatory
TIDMMERC
RNS Number : 1156E
Mercia Technologies PLC
02 July 2019
RNS 2 July 2019
Mercia Technologies PLC
("Mercia", the "Group" or the "Company")
Directorate Change
Mercia Technologies PLC (AIM: MERC), the national investment
group focused on the identification, creation, funding and scaling
of innovative technology businesses with high growth potential from
the UK regions, announces that Susan Searle has decided to step
down from her role as Non-executive Chair and from the Board with
immediate effect. Having been Non-executive Deputy Chair of Mercia
at the time of its IPO in December 2014, Susan was elected
Non-executive Chair in May 2016.
Ian Metcalfe, currently the Group's Senior Independent Director,
has been appointed as Mercia's new Non-executive Chair. An
additional Non-executive Director with specialist asset management
experience will be appointed in due course.
Ian Metcalfe commented:
"On behalf of the whole Board, I would like to thank Susan for
her significant contribution to Mercia over the last five years.
She played an important role during a period in which Mercia has
grown to the significantly scaled position it is in today. With our
increasing focus on further growing Mercia's assets under
management to accelerate the path to profitability, our intention
is to appoint a new Non-executive Director in due course with
experience of the specialist asset management sector."
Ray Chamberlain, Non-executive Director and co-founder of
Mercia, commented:
"Without Susan's involvement from the very beginning of the
Company in 2014 and in particular her passion for our success,
Mercia would not have grown to become the business we are today. We
will all miss her enthusiasm and commitment to Mercia but respect
her decision to step down as Non-executive Chair."
Susan Searle added:
"I have taken the decision that now is the right time for me to
step aside so I can continue to make the appropriate time
commitment for my other roles. It has been an honour to work with
the team as Mercia has successfully matured as a business, both by
significantly increasing its funds under management and deploying
balance sheet capital into high growth technology businesses
predominantly from the UK regions. I wish Mercia continued success
in the future."
For further information, please contact:
Mercia Technologies PLC +44 (0)330 223 1430
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial Officer
www.merciatech.co.uk
Canaccord Genuity Limited +44 (0)20 7523 8000
Simon Bridges, Emma Gabriel (NOMAD
and Broker)
Buchanan +44 (0)20 7466 5000
Chris Lane, Victoria Hayns, Stephanie
Watson
www.buchanan.uk.com
About Mercia Technologies PLC
Mercia is a national investment group focused on the funding and
scaling of innovative technology businesses with high growth
potential from the UK regions. The Group benefits from 19
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 and then over time Mercia can
provide further funding to the most promising companies, by
deploying direct investment follow-on capital from its own balance
sheet. Mercia has c.GBP500million of assets under management and,
since its IPO in December 2014, has invested over GBP78million
across its direct investment portfolio.
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Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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