Mercia Asset Management (GB:MERC) has released an update.
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Mercia Asset Management PLC, a specialist asset manager with over £1.5 billion in assets, has announced the discontinuation of funding for Impression Technologies Limited (ITL), a company unable to achieve profitability despite technological advancements in its HFQ technology and its application in various industries. The decision follows a failed sale process and will result in ITL likely entering insolvency, leading to a minor decrease in Mercia’s net asset value per share. Despite the setback, Mercia’s CEO emphasizes investment discipline as a core aspect of the company’s long-term strategy.
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