6th Dec 2024 12:19
Mercia Asset Management PLC - alternative asset manager focused on regional UK small and medium enterprises - Makes a GBP4.0 million follow-on investment into portfolio company Netacea Group Ltd, to be paid across two tranches. Says GBP3.1 million of the investment will come from Mercia's balance sheet as part of its direct investment holding, with the remaining GBP900,000 coming from its third-party managed funds. The direct investment is split into GBP2.0 million for the first tranche and GBP1.1 million for the second. Following payment of both tranches, Mercia will hold a 33.6% stake in Netacea, with its managed funds holding a further 26.9% stake. The funding will enable Netacea to advance its position as a leading defensive artificial intelligence software provider against bot attacks.
Current stock price: 30.20 pence, up 0.7% in London on Friday afternoon
12-month change: down 1.0%
By Emily Parsons, Alliance News reporter
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