Mercia's Northern VCTs raise £60.0million

Mercia Asset Management PLC

("Mercia", the "Group" or the "Company")

Mercia's Northern VCTs raise £60.0million

Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager with c.£1.5billion of assets under management ("AuM"), is pleased to note that the three Northern Venture Capital Trusts ("Northern VCTs"), which form part of Mercia's third-party funds under Management ("FuM"), have successfully completed their fund raise totalling £60.0million in new capital, through share offers launched in September 2023.

The Northern VCTs comprise Northern Venture Trust PLC, Northern 2 VCT PLC and Northern 3 VCT PLC. Following an initial allotment in January 2024, they each expect to allot the remaining new shares on or around 4 April 2024.

Mark Payton, Chief Executive Officer of Mercia, commented: "I am delighted that the Northern VCTs have achieved a significant fundraise in the context of a more challenging fundraising environment. The successful £60.0million fundraise underscores the trust Mercia has built in managing the Northern VCTs, which remain a vital source of investment for SMEs navigating the current economic climate."