Resignation of Lead Fund Manager

RNS Number : 8803Z

Gresham House Strategic PLC

26 May 2021

 

26/05/2021

Gresham House Strategic plc

Resignation of Lead Fund Manager

The Board of Gresham House Strategic plc ("GHS") notes the announcement by Gresham House plc ("GH") with respect to the resignation of Richard Staveley from GH and his leaving with immediate effect.

The Board is disappointed that the lead fund manager of GHS has resigned. 

Since Richard Staveley joined Gresham House to manage the GHS investments, he has made a significant positive impact, with two thirds of GHS's current investment portfolio made up of stocks acquired during his tenure. These have been major contributors to the strong performance of the portfolio, with seven stocks up over 50% since purchase.  Richard's investment decisions have driven significant NAV growth for the portfolio which has contributed to the increase in the share price of GHS. 

The Board is considering the implications for the future management of GHS' portfolio and will make another announcement in due course.  Richard is a named key person for the purposes of the investment management agreement, and as such the Board of GHS is ready to consider and respond on any replacement personnel proposed by GH, that would form the basis of any ongoing management of the investments of GHS.

In respect of Monday's announcement by Rock Nominees Limited, on behalf of Gresham House plc, that it has requisitioned a general meeting, the Board is in discussion with GH concerning its proposals for such general meeting and more broadly as a shareholder under the announced Strategic Review.

Gresham House Strategic plc

Enquiries:

PR Advisor

Gay Collins, Montfort Communications                     [phone]

Nominated Advisor & Broker

Stuart Andrews/William Marle, finnCap                    [phone]

Company Secretary

Thomas Verlander  [phone]

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR

 

END

 

 

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