Mercer Investments Raises Stake in Scidev Ltd to 8.824% Following $173,099 Market Purchase

Mercer Investments Acquires 1.65 Million Scidev Shares at $0.1046 Each

According to the company update lodged on 2 July 2026 and signed by Anne Jordan, Company Secretary of Mercer Investments (Australia) Limited, the WSSP Australian Equities Trust purchased 1,654,863 ordinary fully paid shares in Scidev on 29 June 2026. The shares were bought at $0.1046 each, with settlement on 1 July 2026, totaling $173,098.67.

This single on-market purchase triggered a change of interests notice under Section 671B of the Corporations Act 2001. Mercer Investments (Australia) Limited made the acquisition in its capacity as trustee of the WSSP Australian Equities Trust, one of several funds managed by Mercer as Responsible Entity or trustee. The detailed allocation of these shares across Mercer’s fund structures is outlined in Annexure A of the filing, with full details in appended tables.

Mercer’s Voting Power in Scidev Climbs from 7.01% to 8.824%

Before this transaction, Mercer held a relevant interest in 13,318,404 ordinary fully paid shares in Scidev, representing 7.01% of voting rights. The acquisition of 1,654,863 shares raised Mercer's total relevant interest to 16,773,267 shares, equal to 8.824% of voting power—a notable increase of approximately 1.814 percentage points in one transaction.

The last substantial holding notice was submitted on 23 December 2025, making this the first update in about six months. The rise from 7.01% to 8.824% indicates Mercer has been building its position, although this notice only reflects the purchase on 29 June 2026. Any additional acquisitions below disclosure thresholds during the interim are not detailed.

WSSP Australian Equities Trust Identified as Purchasing Entity Within Mercer’s Fund Network

The notice identifies Mercer Investments (Australia) Limited acting as trustee of the WSSP Australian Equities Trust (ABN 71 812 058 980) as the purchaser. Mercer Investments (Australia) Limited operates under ABN 66 008 612 397 and serves as responsible entity or trustee for numerous managed funds and trusts, extensively detailed in Annexure A of the filing.

Besides the WSSP Australian Equities Trust, the Mercer Australian Small Companies Fund (ARSN 111 237 873) is also named. Mercer Investments (Australia) Limited acts as responsible entity for this fund as well. The full breakdown of relevant interests across these funds and associated entities appears in Annexure A, Table 2. Mercer’s broader fund family includes strategies spanning Australian shares, international equities, fixed interest, property, infrastructure, and alternatives.

Corporate and Fund Structure Related to Mercer’s Holding

Annexure A lists associated entities of Mercer Investments (Australia) Limited considered associates for substantial holding purposes. These include Mercer Superannuation (Australia) Limited, Mercer (Australia) Pty Ltd, Mercer Consulting (Australia) Proprietary Limited, Mercer Financial Advice Proprietary Limited, Mercer Outsourcing (Australia) Proprietary Limited, and Mercer Australia Superannuation Administration Proprietary Limited.

The extensive range of funds managed by Mercer Investments (Australia) Limited highlights the institutional scale behind the 16,773,267 shares representing 8.824% voting power. This aggregated figure combines holdings across Mercer’s various funds and entities, consistent with Australian disclosure rules that combine associates’ interests when calculating voting power thresholds.

Insights from the $0.1046 Share Purchase Price

The shares were acquired at $0.1046 each on 29 June 2026, indicating the price level Mercer’s trustee entity was prepared to pay on the final trading day of the month. The implied market capitalisation based on this price and Mercer's percentage holding cannot be precisely calculated from the information provided, as total share count details are not disclosed beyond Mercer's interest.

The immediate impact on Scidev’s share price from this transaction is not publicly known. Settlement occurred on 1 July 2026, marking the start of the new financial year. While the acquisition price serves as a reference point for institutional demand at current levels, it should not be interpreted as a forecast of future share price movement.

Scidev’s Role as an ASX-Listed Industrial Chemicals and Water Treatment Provider

Scidev Ltd is an ASX-listed company specializing in industrial chemicals, focusing on water treatment chemistry and process chemistry solutions. Operating primarily in Australia and internationally, it supplies chemical products to sectors including mining, oil and gas, and water utilities. Its inclusion in the WSSP Australian Equities Trust and Mercer Australian Small Companies Fund aligns with its classification as a small-cap industrial company on the ASX.

Mercer’s Australian Small Companies Fund holding in Scidev corresponds with the company’s market capitalisation profile. Scidev has grown its business through organic expansion and acquisitions in recent years. Institutional ownership at the level now held by Mercer-related entities forms a significant part of the shareholder register. No operational updates, earnings guidance, or strategic announcements accompanied this disclosure, which solely reports the change in substantial holding.

Regulatory Requirements Prompting the Section 671B Disclosure

Under Section 671B of the Corporations Act 2001, entities with a relevant interest of 5% or more in a listed company’s voting shares must notify both the company and ASX within two business days of any change of 1% or more in voting power. Mercer's increase from 7.01% to 8.824%—a change of approximately 1.814 percentage points—triggers this disclosure obligation.

The notice, signed by Anne Jordan as Company Secretary of Mercer Investments (Australia) Limited, is dated 2 July 2026, two business days after the transaction date of 29 June 2026, complying with statutory deadlines. The Form 604 lodged is the standard regulatory form for notifying changes in substantial holdings and is a routine compliance measure. Nonetheless, it provides valuable insight into institutional accumulation activity in Scidev shares.

Impact on Scidev’s Shareholder Base and Institutional Ownership

With Mercer-associated entities now holding 8.824% of Scidev’s ordinary fully paid shares, Mercer stands as a major institutional shareholder. The increase from 7.01% since December 2025 indicates sustained or renewed institutional interest in the stock.

For Scidev’s management and board, this growing institutional stake signals confidence and suggests their performance and strategy are under close scrutiny by a sophisticated investor. Investors will likely watch for further changes in Mercer’s stake, as any move of 1% or more in voting power—either up or down—would require additional Form 604 disclosures. A reduction below 5% would necessitate a Form 605 notice.

Upcoming Disclosure Events and Investor Considerations

Investors tracking Mercer’s holdings should monitor for future Form 604 or Form 603 filings related to Scidev shares. A Form 604 indicates a change of 1% or more in relevant interest, while a Form 605 signals that Mercer is no longer a substantial holder.

Beyond regulatory filings, investors may also follow Scidev’s company announcements on operational results, contract wins, financial performance, and any capital management initiatives, all of which could influence institutional investment decisions. This latest company update is solely a statutory disclosure reflecting Mercer’s adjusted position as of 29 June 2026, with no linked corporate developments reported.