First Close of Strategic Public Equity Fund LP

RNS Number : 2352H

Gresham House PLC

16 August 2016

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

(AIM: GHE)

Gresham House Achieves First Close of Strategic Public Equity Fund LP

Gresham House, the specialist asset manager, is pleased to announce the first close of the Gresham House Strategic Public Equity Fund LP (the "SPE Fund LP") with commitments, including co-investment contributions, of £24 million. The Company has committed £1.5 million to co-invest alongside the SPE Fund LP. As announced by Gresham House Strategic plc ("GHS") today, GHS will be co-investing £7.5m alongside the SPE Fund LP via the transfer of 3,875,969 IMImobile ordinary shares into the co-investment structure at a price of 193.5p.

The SPE Fund LP means that Gresham House Asset Management's ("GHAM") strong performing Strategic Public Equity ("SPE") investment strategy is now accessible to investors who favour limited partnership structures, including private equity fund investors, family offices and ultra-high net worth individuals. The SPE Fund LP will be a sister fund to Gresham House Strategic plc with both vehicles investing and divesting in the same opportunities. GHS and the SPE Fund LP will be managed by the same investment committee and investment team led by Tony Dalwood and Graham Bird.

The increased size of the shared SPE mandate will enable the investment team to combine the investment capacity of GHS and the SPE Fund LP to access larger deals of greater unit size.

Anthony Dalwood, CEO of Gresham House, said:

"Launching a limited partnership vehicle is part of our approach to grow assets under management organically. I am very pleased with the initial investor demand which includes strong support from a pension fund cornerstone investor. This is a strong endorsement for our Strategic Public Equity strategy.

"The Private Equity approach to smaller quoted companies has generated a pipeline of primary growth capital opportunities alongside secondary and pre-IPO potential investments."

Enquiries:

Gresham House plc

Anthony (Tony) Dalwood

020 3837 6270

Liberum Capital Ltd

Neil Elliot

Jill Li

020 3100 2000

Montfort Communications, PR Adviser

Gay Collins

Rory King

greshamhouse@montfort.london