Exercise of Supporter Warrants

RNS Number : 2542D

Gresham House PLC

25 June 2019

 

Gresham House plc

("Gresham House" or the "Company")

Exercise of Supporter Warrants

Gresham House, (AIM: GHE) the specialist alternative asset manager, notifies that application has been made for the admission to trading on AIM ("Admission") for 663,000 new Ordinary Shares of 25p each in the Company pursuant to the exercise of Supporter Warrants at an exercise price of 323.27p per share. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company. Admission of the new Ordinary Shares is expected on 27 June 2019.

As part of the original management buy-in, on 1 December 2014, the Company issued 850,000 Supporter Warrants to the new directors at that time and certain members of the Investment Committee and Advisory Group at a price of 7.5p per warrant. Each Supporter Warrant entitles the holder to subscribe for one Ordinary Share at an exercise price of 323.27 pence, exercisable at any time between 1 December 2015 and 31 December 2019. Prior to this announcement, 170,000 Supporter Warrants had been exercised.

Of the 663,000 Supporter Warrants being exercised, 352,750 are currently held by Directors and PDMRs of the Company. On 24 June 2019, the Company received notification that each of the Directors and PDMRs had exercised their Supporter Warrants in full and subsequently sold on the same day the Ordinary Shares issued following the exercise at a price of 610.0 pence per Ordinary Share (the "Dealings"). The Dealings were undertaken to satisfy institutional demand in the Ordinary Shares. Further details on the Dealings are set out more fully in the table below:

Director / PDMR	Beneficial holding of Ordinary Shares prior to the Dealing	% of issued share capital prior to the Dealing	Number of Supporter Warrants exercised	Number of Ordinary Shares sold following the exercise of Supporter Warrants	Resultant Beneficial holding of Ordinary Shares after the Dealing	Resultant % of issued share capital after the Dealing
Mr Anthony Dalwood	341,089	1.3%	212,500	212,500	341,089	1.3%
Mr Anthony Townsend	34,855	0.1%	34,000	34,000	34,855	0.1%
Mr Rupert Robinson	62,197	0.2%	106,250	106,250	62,197	0.2%

Following Admission, the Company's issued share capital will comprise 27,239,162 Ordinary Shares, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. The Company does not hold any shares in treasury. In addition, the Company will have 676,759 Shareholder Warrants and 17,000 Supporter Warrants in issue.

- Ends -

For more information contact:

Gresham House plc Kevin Acton, Finance Director	[phone]
Montfort Communications Olly Scott Louis Supple	[e-mail] [phone] [phone]
Canaccord Genuity Limited - Nominated Adviser and Joint Broker Bobbie Hilliam Jack Haynes	[phone]
Jefferies International Limited - Financial Adviser and Joint Broker Paul Nicholls Max Jones Chris Binks	[phone]

About Gresham House

Gresham House plc is an AIM quoted specialist asset manager providing funds, direct investments and tailored investment solutions, including co-investment across a range of differentiated alternative investment strategies. Our expertise includes timber, renewable energy, housing and infrastructure, strategic public and private equity (private assets). The group aims to deliver sustainable financial returns and is committed to building long-term partnerships with clients (institutions, family offices, high-net-worth individuals, charities, endowments and private individuals) to help them achieve their financial goals.

Shareholder value creation will be driven by long-term growth in earnings as a result of increasing AUM and returns from invested capital.

www.greshamhouse.com

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associate
a)	Name	Anthony Dalwood
2	Reason for the notification
a)	Position/status	CEO
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gresham House plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
	Exercise of Supporter Warrants
a)	Description of the financial instrument, type of instrument Identification code	Supporter Warrants in Gresham House plc. ISIN: GB0003887287
b)	Nature of the transaction	Exercise into Ordinary Shares in Gresham House plc
c)	Price(s) and volume(s)	Price(s) Volume(s) 323.27p 212,500
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	24 June 2019
f)	Place of the transaction	London Stock Exchange, AIM
	Sale of Gresham House plc Ordinary Shares
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 25p in Gresham House plc. ISIN: GB0003887287
b)	Nature of the transaction	Sell
c)	Price(s) and volume(s)	Price(s) Volume(s) 610.00p 212,500
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	24 June 2019
f)	Place of the transaction	London Stock Exchange, AIM

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associate
a)	Name	Anthony Townsend
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gresham House plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
	Exercise of Supporter Warrants
a)	Description of the financial instrument, type of instrument Identification code	Supporter Warrants in Gresham House plc. ISIN: GB0003887287
b)	Nature of the transaction	Exercise into Ordinary Shares in Gresham House plc
c)	Price(s) and volume(s)	Price(s) Volume(s) 323.27p 34,000
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	24 June 2019
f)	Place of the transaction	London Stock Exchange, AIM
	Sale of Gresham House plc Ordinary Shares
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 25p in Gresham House plc. ISIN: GB0003887287
b)	Nature of the transaction	Sell
c)	Price(s) and volume(s)	Price(s) Volume(s) 610.00p 34,000
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	24 June 2019
f)	Place of the transaction	London Stock Exchange, AIM

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associate
a)	Name	Rupert Robinson
2	Reason for the notification
a)	Position/status	MD, Gresham House Asset Management Limited
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gresham House plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
	Exercise of Supporter Warrants
a)	Description of the financial instrument, type of instrument Identification code	Supporter Warrants in Gresham House plc. ISIN: GB0003887287
b)	Nature of the transaction	Exercise into Ordinary Shares in Gresham House plc
c)	Price(s) and volume(s)	Price(s) Volume(s) 323.27p 106,250
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	24 June 2019
f)	Place of the transaction	London Stock Exchange, AIM
	Sale of Gresham House plc Ordinary Shares
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 25p in Gresham House plc. ISIN: GB0003887287
b)	Nature of the transaction	Sell
c)	Price(s) and volume(s)	Price(s) Volume(s) 610.00p 106,250
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	24 June 2019
f)	Place of the transaction	London Stock Exchange, AIM

 

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