Mercia Asset Management (MERC)

Sector:

Financials

Index:

FTSE AIM All-Share

33.10p
   
  • Change Today:
      0.30p
  • 52 Week High: 33.60
  • 52 Week Low: 21.00
  • Currency: UK Pounds
  • Shares Issued: 436.08m
  • Volume: 149,495
  • Market Cap: £144.34m
  • RiskGrade: 167

Mercia firm nDreams raises £20.1m from new investor

By Josh White

Date: Tuesday 29 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Mercia Asset Management announced a £20.1m third-party investment round into its largest direct investee by fair value on Tuesday, virtual reality (VR) games developer nDreams.
The AIM-traded firm said the investment was from Stockholm-based video game investor Aonic.

Following the investment round, Mercia now held a 33.2% fully-diluted direct investment stake in nDreams valued at £25.8m - an increase of £8.1m from its 30 September carrying value.

Mercia said that would have a consequential positive impact on both operating profit and net assets as at 31 March.

"This is an important development for nDreams and one that will enable it to further strengthen its position as a leading studio in the VR market," said Mercia chief investment officer and nDreams director Julian Viggars.

"Aonic's investment is also an indicator of the potential scale of VR technology and nDreams is well placed to capture the opportunities this presents.

"This material fair value increase is another example of the underlying value creation potential in our direct investment portfolio, which is now being recognised by co-investors and acquirers."

Mercia described nDreams as a "leading developer and publisher" of virtual reality games including Phantom: Covert Ops, Fracked and Far Cry VR: Dive Into Insanity.

It said it had a "strong pipeline" of future projects already in development, including games for the PlayStation VR2.

nDreams also recently expanded its development capabilities by announcing two new studios, nDreams Studio Orbital and nDreams Studio Elevation.

In August last year, nDreams also appointed former Codemasters chief executive Frank Sagnier as its non-executive chairman.

"This investment is a pivotal moment for nDreams, and I'm delighted to now have the combined support of Mercia and Aonic, who share the same ambitious vision that we do," said nDreams co-founder and chief executive officer Patrick O'Luanaigh.

"This investment is the rocket fuel needed to accelerate our rapid growth, as VR continues its trajectory towards becoming a truly mass-market technology."

At 1205 BST, shares in Mercia Asset Management were up 7.08% at 33.73p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MERC Market Data

Currency UK Pounds
Share Price 33.10p
Change Today 0.30p
% Change 0.91 %
52 Week High 33.60
52 Week Low 21.00
Volume 149,495
Shares Issued 436.08m
Market Cap £144.34m
RiskGrade 167

MERC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
23.68% above the market average23.68% above the market average23.68% above the market average23.68% above the market average23.68% above the market average
4.76% below the sector average4.76% below the sector average4.76% below the sector average4.76% below the sector average4.76% below the sector average
Price Trend
82.51% above the market average82.51% above the market average82.51% above the market average82.51% above the market average82.51% above the market average
77.59% above the sector average77.59% above the sector average77.59% above the sector average77.59% above the sector average77.59% above the sector average
Income
77.05% below the market average77.05% below the market average77.05% below the market average77.05% below the market average77.05% below the market average
87.88% below the sector average87.88% below the sector average87.88% below the sector average87.88% below the sector average87.88% below the sector average
Growth
94.33% below the market average94.33% below the market average94.33% below the market average94.33% below the market average94.33% below the market average
88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MERC Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Dec-23 28-Sep-23
Paid 10-Jan-24 27-Oct-23
Amount 0.35p 0.53p

Trades for 28-Mar-2024

Time Volume / Share Price
17:08 25,000 @ 33.10p
16:30 13,744 @ 33.10p
15:40 1 @ 33.60p
14:42 7,500 @ 33.58p
13:50 15,000 @ 33.10p

MERC Key Personnel

CEO Mark Andrew Payton
CFO Martin James Glanfield

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