General Meeting approves issue of new shares

RNS Number : 1931Z

Gresham House PLC

10 March 2017

 

10 March 2017

Gresham House plc ("Gresham House" or "the Company")

(AIM: GHE)

General Meeting approves issue of new shares to strategic investor, The Royal County of Berkshire Pension Fund

Gresham House, the specialist asset manager focused on alternative investment strategies and illiquid asset classes, is pleased to announce that the resolutions to approve the proposed subscription for up to 2,546,372 new Ordinary Shares by the Administering Authority for The Royal County of Berkshire Pension Fund ("Berkshire") (the "Subscription") and the disapplication of pre-emption rights in respect of the Subscription (further details of which are set out in the notice of General Meeting circulated to shareholders on 21 February 2017) were passed at the General Meeting held earlier today on a show of hands.  The details of the proxy votes received on the resolutions are set out in the appendix below.

In accordance with the subscription agreement entered into by the Company and Berkshire on 21 February 2017 and the acquisition by Berkshire of 295,000 ordinary shares on market (as announced on 8 March 2017), the Company has issued 2,251,372 new Ordinary Shares to Berkshire (the "Berkshire Shares") and application has been made for the above shares to be admitted to trading on AIM.  Admission of the Berkshire Shares is now expected to occur on 13 March 2017.

Following admission of the Berkshire Shares and in accordance with the Financial Conduct Authority's Disclosure and Transparency Rules ("DTR"), the Company's issued share capital will comprise 12,536,956 Ordinary Shares. The above figure of 12,536,956 Ordinary Shares 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 DTR.

Enquiries:
Gresham House plc Tony Dalwood, Chief Executive Officer John-Paul Preston, Company Secretary		[phone]
Liberum Neil Elliot/Jill Li		[phone]
Montfort Communications, PR Adviser Gay Collins Rory King		[e-mail] [phone]

APPENDIX

The following table gives details of the proxy votes cast received on each of these resolutions:

	Resolution	Total Votes For	Total Votes Against	Total Votes Withheld*
1.	Authority to allot the Subscription Shares	5,169,452 100%	0 0%	303,000
2.	Disapplication of pre-emption rights in connection with the allotment of Subscription Shares	5,169,452 100%	0 0%	303,000
3.	General authority to allot Ordinary Shares	5,168,452 99.98%	1,000 0.02%	303,000
4.	General authority to disapply pre-emption rights	5,080,773 98.28%	88,679 1.72%	303,000
5.	General authority to make market purchases of Ordinary Shares	5,090,314 98.32%	87,138 1.68%	295,000

* A vote withheld is not treated as a vote in law and would not be counted in the calculation of the proportion of the votes cast for or against a resolution.

** Excludes discretionary proxy votes lodged in favour of third parties

 

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