Mercia Asset Management PLC (AIM: MERC), the regionally focused private capital asset manager with over £2.2 billion of assets under management, has disclosed the repurchase of 340,000 ordinary shares on the London Stock Exchange between 30 October and 4 November 2026. The purchases were executed by Canaccord Genuity Limited as part of the share buyback programme announced on 1 April 2026. The company intends to cancel all repurchased shares, reducing the total share count in circulation. Investors will note that the confirmed shares in issue now stand at 420,277,715, a figure relevant for regulatory disclosure thresholds.

Key Points

  • Mercia Asset Management PLC (AIM: MERC) manages over £2.2 billion in assets across venture, development capital, property finance and proprietary capital
  • The company repurchased 340,000 ordinary shares between 30 October and 4 November 2026 at prices between 30.25p and 30.50p per share
  • All repurchased shares are to be cancelled; total shares in issue stand at 420,277,715 excluding 9,733,642 treasury shares
  • Investors should watch for further buyback tranches under the programme first announced on 1 April 2026

Mercia's Four-Day Buyback: Prices, Volumes and Canaccord Genuity's Role

Canaccord Genuity Limited, acting as nominated adviser and joint broker, executed all four tranches of the buyback on the AIMX venue. On 30 October and 2 November 2026, 90,000 shares were purchased on each date at a uniform price of 30.50p. On 3 and 4 November 2026, the daily volume fell to 80,000 shares per session, with the price easing slightly to 30.25p per share. The volume weighted average price across the entire period was 30.38p on an aggregate volume of 340,000 shares, as confirmed in the company's disclosure under Article 5(1)(b) of the Market Abuse Regulation as retained in domestic UK law.

Share Cancellations and Treasury Share Movements Reshape MERC's Capital Structure

Alongside the buyback activity, the announcement states that on 3 November 2026 Mercia transferred 1,456,597 ordinary shares from treasury to satisfy employee exercises under its Save As You Earn scheme, and a further 26,664 ordinary shares from treasury to satisfy additional employee share option exercises. Following both the purchases and the treasury transfers, the total number of ordinary shares in issue and admitted to trading on AIM is confirmed at 420,277,715, with 9,733,642 shares remaining in treasury. The company intends to cancel all shares acquired through the buyback programme.

Regulatory Denominator of 420,277,715 Shares Confirmed for FCA Disclosure Purposes

Mercia has confirmed that the figure of 420,277,715 ordinary shares in issue should be used as the denominator by shareholders calculating whether they are required to notify interests or changes in interests under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. This detail is of particular relevance to institutional shareholders and significant stakeholders monitoring whether their proportionate holdings cross reporting thresholds. The buyback programme, which has been running since April 2026, continues to gradually reduce the company's freely traded share count through cancellations.

Mercia's Regional SME Focus and 11-Office UK Network Underpins Buyback Context

Mercia operates as a proactive, regionally focused private capital asset manager supporting UK small and medium-sized enterprises across four asset classes: venture capital, development capital, property finance, and proprietary capital — a model the company describes as "Complete Connected Capital". The group maintains 11 regional offices and leverages university partnerships and local adviser networks to access deal flow. With over £2.2 billion of assets under management, the ongoing buyback programme signals the board's view on capital allocation, though investors should remain mindful of the liquidity constraints typical of AIM-quoted asset managers operating in regional private capital markets.