Mercia Asset Management PLC nDreams appoints new Non-executive Chair (4719H)
August 04 2021 - 1:00AM
UK Regulatory
TIDMMERC
RNS Number : 4719H
Mercia Asset Management PLC
04 August 2021
RNS 4 August 2021
Mercia Asset Management PLC
("Mercia", "the Group" or the "Company")
nDreams appoints new Non-executive Chair
Mercia Asset Management PLC (AIM: MERC), the proactive,
regionally focused specialist asset manager with c.GBP940million of
assets under management, is pleased to note the appointment of
Frank Sagnier as Non-executive Chair of portfolio company nDreams
Limited ("nDreams").
Frank Sagnier's career in the video games industry spans more
than 25 years, having most recently retired from Codemasters Group
Holdings plc ("Codemasters") following its acquisition by
Electronic Arts Inc. ("EA") for c.$1.2billion. He joined the games
developer and publisher in 2014 as Chief Executive Officer and was
instrumental in its successful AIM IPO, growth and subsequent sale
to EA.
nDreams is a leading developer and publisher of virtual reality
("VR") games including Phantom: Covert Ops for Oculus headsets and
the highly anticipated Fracked for PlayStation VR, that will be
launched globally on 20(th) August 2021. nDreams has also
collaborated with Ubisoft and Zero Latency VR on development of the
free-roam arcade experience Far Cry VR: Dive into Insanity, that
can be experienced worldwide at Zero Latency venues. Further
developments include nDreams' move into third-party publishing and
the recent announcement of a second fully remote studio, nDreams
Studio Orbital, which will focus on developing live service games
for VR. Mercia holds a 35.4% fully diluted direct investment stake
with a further 4.0% fully diluted stake held by Mercia's managed
funds.
Frank Sagnier, Non-executive Chair of nDreams, said: "I am
delighted to join nDreams' board to help the company achieve its
mission to become a world-leading developer and publisher of VR
games. Over the past few years, Patrick has built a reputable
studio with highly-talented teams delivering high-quality games.
The fast-improving hardware together with immersive and innovative
player experiences, means that the VR market is bound to see
significant growth and exciting times ahead."
Patrick O'Luanaigh, CEO and founder of nDreams, said: "I'm
delighted to welcome Frank to nDreams' board. I've known Frank
since he was building up EA Partners and I am certain that his
experience, passion and drive will push us forward as we head
towards some very ambitious goals. Frank's energy and wisdom will
be significant assets, and the management team and I are excited to
work with him."
Julian Viggars, Chief Investment Officer of Mercia, said: "As
Mercia's representative on the board of nDreams, I am increasingly
excited about the growing appetite for VR technology, alongside the
broader momentum being seen in the video games industry. nDreams
has seen its revenue grow by 30% this financial year and has a
number of titles under development, plus a strong pipeline of
future projects. Patrick and his team have built one of the leading
VR studios and Frank is the ideal chair to help guide nDreams
through its ambitious next phase. His games industry experience and
track record makes him best placed to support Patrick and the team
to continue to drive growth and deliver on their strategic
objectives, whilst maintaining nDreams' reputation for content
quality and delivery."
-Ends-
For further information, please contact:
Mercia Asset Management PLC
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial Officer +44 (0)330 223
www.mercia.co.uk 1430
Canaccord Genuity Limited (NOMAD and Joint +44 (0)20 7523
Broker) 8000
Simon Bridges, Emma Gabriel
+44 (0)20 7496
N+1 Singer (Joint Broker) 3000
Harry Gooden, James Moat
+44 (0)20 3727
FTI Consulting 1051
Tom Blackwell, Louisa Feltes, Shiv Talwar
mercia@fticonsulting.com
About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on
supporting regional SMEs to achieve their growth aspirations.
Mercia provides capital across its four asset classes of balance
sheet, venture, private equity and debt capital: the Group's
'Complete Connected Capital'. The Group initially nurtures
businesses via its third-party funds under management, then over
time Mercia can provide further funding to the most promising
companies, by deploying direct investment follow-on capital from
its own balance sheet.
The Group has a strong UK footprint through its regional
offices, 19 university partnerships and extensive personal
networks, providing it with access to high-quality deal flow.
Mercia currently has c.GBP940million of assets under management
and, since its IPO in December 2014, has invested c.GBP111million
gross into its direct investment portfolio.
Mercia Asset Management PLC is quoted on AIM with the EPIC
"MERC".
About nDreams
nDreams Ltd. ( www.ndreams.com ) is an award-winning virtual
reality developer and publisher, with a proven track record in
creating commercially successful and memorable experiences for
leading VR platforms, including the award-winning Phantom: Covert
Ops. nDreams is an approved developer partner with Sony
PlayStation, Oculus, HTC, Microsoft HoloLens, Google and
Samsung.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCPJMRTMTMMBRB
(END) Dow Jones Newswires
August 04, 2021 02:00 ET (06:00 GMT)
Mercia Asset Management (LSE:MERC)
Historical Stock Chart
From Apr 2024 to May 2024
Mercia Asset Management (LSE:MERC)
Historical Stock Chart
From May 2023 to May 2024