With the sale of The Native Antigen Company (NAC) for up to £18m in cash, Mercia expects to realise £5.2m (1.2p per share) for its 29.4% stake. This exit delivers another significant milestone in management’s strategy to achieve an evergreen funding model. Management has confirmed that the group is profitable on a day-to-day basis following the acquisition of the NVM VCT management contracts (NVM) in December 2019. NVM, together with additional allocations from the British B
10 Jul 2020
Mercia Asset Management - Successful exit of The Native Antigen Company
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Mercia Asset Management - Successful exit of The Native Antigen Company
Mercia Asset Management PLC (MERC:LON) | 35.0 -0.2 (-1.7%) | Mkt Cap: 152.0m
- Published:
10 Jul 2020 -
Author:
Richard Williamson -
Pages:
2
With the sale of The Native Antigen Company (NAC) for up to £18m in cash, Mercia expects to realise £5.2m (1.2p per share) for its 29.4% stake. This exit delivers another significant milestone in management’s strategy to achieve an evergreen funding model. Management has confirmed that the group is profitable on a day-to-day basis following the acquisition of the NVM VCT management contracts (NVM) in December 2019. NVM, together with additional allocations from the British B