Bonus Share Matching Plan Vesting and PDMR updates

Gresham House PLC

19 July 2023

 

19 July 2023

Gresham House plc

("Gresham House" or the "Company")

Vesting of awards previously granted to management under the Company's 2018 Bonus Share Matching Plan ("BSM") and PDMR notifications

Gresham House, (AIM: GHE) the specialist alternative asset manager, announces that, pursuant to the BSM awards previously announced on 5 March 2020 relating to the 2019 bonus year ("BSM 2019 Awards"), 38,123 ordinary shares of 25 pence each in the capital of the Company ("Ordinary Shares") have now vested and been allocated to Mr Anthony Dalwood, Chief Executive Officer and PDMR, 31,770 Ordinary Shares have now vested and been allocated to Mr Rupert Robinson, Managing Director, Gresham House Asset Management Limited and a PDMR and 29,730 Ordinary Shares have now vested and been allocated to Mr Benjamin Guest, Managing Director New Energy and PDMR. The aggregate number of 99,623 Ordinary Shares are net of income tax and employee national insurance contributions and as allocated will be transferred by the Gresham House plc Employee Benefit Trust to these PDMRs.

The purpose of the BSM is to encourage Gresham House UK employees to invest in the long-term growth of the Company.  Under the BSM and in the ordinary course, if the Company achieves growth in its mid-market closing share price equal to 7% per annum compounded growth from the date of award to the vesting date (which is a condition precedent) and the Company's share price outperforms the FTSE All Share Index from the date of award to the vesting date, the participant will receive 100% of the matching share award. Where the Company's share price does not outperform the FTSE All Share Index, the participant will receive 50% of the matching share award.

The notifications which follow, made pursuant to Article 19(3) of the Market Abuse Regulation, provide further details. The 2019 BSM Awards set out below are in respect of the net Ordinary Shares transferred to the relevant PDMR which arose from the exchange of their 2019 deferred bonus and the corresponding matching Ordinary Shares that were issued in accordance with the BSM and upon the satisfaction of the conditions set out in the 5 March 2020 announcement.

PDMR	Title	Award*	Resultant shareholding in Gresham House plc**	Resultant percentage shareholding in Gresham House plc**
Anthony Dalwood	Chief Executive Officer	38,123	952,262	2.49%
Rupert Robinson	Managing Director, Gresham House Asset Management Limited	31,770	620,437	1.62%
Benjamin Guest	Managing Director, New Energy	29,730	1,124,945	2.94%

* The BSM 2019 Awards could not have vested on the original vesting date of 5 March 2023 because of a delay in the publication of the Company's accounts for the year ending 31 December 2022 and, thereafter, the Company was subject to a restricted trading period which ended on 17 July 2023. The total Ordinary Shares transferred are net of income tax and employee national insurance contributions.

 ** Includes Ordinary Shares which arise from the exchange of the PDMR's deferred bonuses for the years 2019, 2020, 2021 and 2022, subject to vesting, and includes the corresponding matching Ordinary Shares relating to the 2019 bonus that vested in accordance with the BSM on 18 July 2023.

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For more information contact:
Gresham House plc    Kevin Acton, Chief Financial Officer	[phone]
Houston - media and analysts    Kay Larsen Kelsey Traynor	[e-mail]  [phone]
Canaccord Genuity Limited - Nominated Adviser and Joint Broker    Bobbie Hilliam  Harry Pardoe	[phone]
Jefferies International Limited - Joint Broker and Financial Adviser  Paul Nicholls  James Umbers	[phone]

About Gresham House

Gresham House is a specialist alternative asset management group, dedicated to sustainable investments across a range of strategies, with expertise across forestry, housing, sustainable infrastructure, renewable energy and battery storage, public and private equity.

Our origins stretch back to 1857, while our focus is on the future and the long term. Quoted on the London Stock Exchange (GHE:LN) we actively manage £8 billion of assets on behalf of institutions, family offices, charities and endowments, private individuals, and their advisers. We act responsibly within a culture of empowerment that encourages individual flair and entrepreneurial thinking.

As a signatory to the UN-supported Principles for Responsible Investment, we are committed to operating responsibly and sustainably. We believe taking the long view in delivering sustainable investment solutions will continue to be a growing factor in the strength of our market positioning. 

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 associated
a)	Name	Anthony Dalwood
2	Reason for the notification
a)	Position/status	Chief Executive Officer
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
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	Vesting of award under the 2018 Bonus Share Matching Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) 653.75p 38,123
d)	Aggregated information -Aggregated volume -Price	N/A
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside Trading Venue

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 associated
a)	Name	Rupert Robinson
2	Reason for the notification
a)	Position/status	Managing Director 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
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	Vesting of award under the 2018 Bonus Share Matching Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) 653.75p 31,770
d)	Aggregated information -Aggregated volume -Price	N/A
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside Trading Venue

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 associated
a)	Name	Benjamin Guest
2	Reason for the notification
a)	Position/status	Managing Director, New Energy
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
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	Vesting of award under the 2018 Bonus Share Matching Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) 653.75p 29,730
d)	Aggregated information -Aggregated volume -Price	N/A
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside Trading Venue

 

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