Gresham House receives payment of £1.5 million

RNS Number : 4348D

Gresham House PLC

26 April 2017

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

(AIM: GHE)

Gresham House receives payment of £1.5 million from continued realisation of legacy assets

Gresham House plc, the specialist asset manager, is pleased to announce the receipt of £1.5 million of deferred proceeds from the sale of the Newton-le-Willows site as announced on 23 September 2015.

£1.0 million of the deferred proceeds is in line with the agreed repayment schedule and an additional £0.5 million is an early repayment, which was triggered by the purchaser selling properties at the Newton-le-Willows site quicker than anticipated.

The Kleinwort Benson Bank Limited ("Kleinwort Benson") banking facility is secured against the deferred proceeds of the sale of Newton-le-Willows and in line with this agreement, £1.5 million has been repaid to Kleinwort Benson. The Company's gross borrowing under the facility now stands at £4.4 million, alongside the gross cash position as at 31 March 2017 of £9.4 million.

Tony Dalwood, CEO of Gresham House said,

"This is the third early repayment from the purchaser and demonstrates the continued move to simplify the balance sheet through realising the legacy assets, and ahead of expectations. This also increases our confidence regarding the active sales process currently underway for our remaining five acres of land at Newton-le-Willows."

Enquiries:

Gresham House plc

Anthony (Tony) Dalwood

020 3837 6270

Liberum Capital Ltd

Neil Elliot

Jill Li

020 3100 2000

Montfort Communications, PR Adviser

Rory King

greshamhouse@montfort.london

0203 770 7906