19th Oct 2020 17:57
Mercia Asset Management PLC - regionally-focused asset manager - Completes exit of software-as-a-service tool Clear Review Ltd for GBP26 million. On date of sale, held 4.0% holding in Clear Review and will receive cash proceeds of GBP1.0 million reflecting a 72% internal rate of return.
"Clear Review is now our fifth full cash exit from the direct investment portfolio, coming just three months after we announced the sale of The Native Antigen Company. We have been consistent in our stated objective to both source and exit deals well, and I am pleased that we have been able to again demonstrate our execution of this strategy through another successful exit," said Chief Executive Officer Mark Payton.
Current stock price: 21.55 pence
Year-to-date change: down 20%
By Dayo Laniyan; [email protected]
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