Mercer Resources PLC Related Party Transaction (4279O)

TIDMMCR

RNS Number : 4279O

Mercer Resources PLC

19 September 2013

Mercer Resources Plc (AIM: MCR)

("Mercer" or the "Company")

Related Party Transaction

Following the disposal of its former private client stockbroking and corporate finance operating business and its subsequent reclassification as an investing company, Mercer has entered into an agreement with Stanhill Capital Partners Holdings Limited ("Stanhill") for the provision of general management, accounting, office facilities and company secretarial services at an annual cost of GBP42,000 per annum (the "Agreement").

Stanhill is part of the same group as Stanhill Special Situations Fund Limited, which owns 13.93 per cent. of the issued share capital of Mercer. Consequently, the entering into the Agreement is a related party transaction under the AIM Rules. Accordingly, Shahed Mahmood, the director of Mercer who is independent of Stanhill, having consulted with Cairn Financial Advisers LLP, the Company's Nominated Adviser, considers that the terms of the Agreement are fair and reasonable in so far as the Company's shareholders are concerned.

Enquiries:

 
Trevor Wells                  Mercer Resources plc           020 3301 9331 
Nominated Adviser             Cairn Financial Advisers 
 James Caithie/Avi Robinson    LLP                           020 7148 7900 
Broker                        Peterhouse Corporate Finance 
 Lucy Williams/Heena Karani    Limited                       020 7469 0932

This information is provided by RNS

The company news service from the London Stock Exchange

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