Mercia Asset Management PLC is holding its Annual General Meeting at 10.00 am today. The Non-executive Chair, Ian Metcalfe, will make the following remarks at the meeting:
“Mercia has made a positive start to the current financial year across both its equity and debt fund portfolios, including the Group’s five new British Business Bank mandates. We are encouraged by our deal pipelines and the Group remains well placed to continue to deploy capital across our fund portfolios, by supporting both existing portfolio companies, as well as adding new investments, as a result of our continuing significant liquidity.
“Our debt free balance sheet cash position of over £43million remains strong, together with its resultant yield. We therefore remain optimistic for continuing profitable progress across the Group during the second half of the current financial year.”