Gresham House PLC Repayment of loan by Hazel Capital LLP (0044A)
21 December 2017 - 6:00PM
UK Regulatory
TIDMGHE
RNS Number : 0044A
Gresham House PLC
21 December 2017
Gresham House Plc ("Gresham House" or "the Company")
(AIM: GHE)
Repayment of loan by Hazel Capital LLP
Gresham House, the specialist asset manager, is pleased to
announce it has received full repayment from Hazel Capital LLP
("Hazel Capital") of a GBP4.6 million secured loan ("the Loan").
The loan repayment includes interest and fees, which are above the
long-term return hurdle of 15% set by the Company.
In conjunction with the agreement to acquire Hazel Capital,
announced on 19 May 2017, and following ongoing due diligence,
Gresham House agreed to provide the loan to Hazel Capital as a form
of growth capital to develop its immediate pipeline of Energy
Storage System ("ESS") projects for the purpose of offering grid
enhancement services to the national grid. Full repayment of the
loan, which has been repaid through proceeds from Solar asset
disposals, was due on or before 31 December 2017 and these proceeds
will be used to continue to build the specialist asset management
business.
Tony Dalwood, CEO of Gresham House, said:
"The early loan repayment and further growth in the new energy
development pipeline is positive news for Gresham House Group. The
Hazel Capital integration continues and we now have an exciting
pipeline of projects to grow under the Gresham House New Energy
banner. Renewables and new energy infrastructure is an area where
we see a significant growth opportunity in 2018."
ENDS
For further information, please contact:
Gresham House plc
Anthony (Tony) Dalwood +44 (0) 20 3837 6270
Liberum Capital Ltd
Neil Elliot/Jill Li +44 (0) 20 3100 2000
Montfort Communications:
Gay Collins +44 7798 626282
Louis Supple +44 7739 430 102
GreshamHouse@montfort.london
About Gresham House
Incorporated in 1857, Gresham House plc is an AIM quoted
specialist asset management group focused on alternative and
illiquid assets classes, aiming to generate superior returns for
clients and shareholders over the longer term
Shareholder value creation will be driven by long-term growth in
earnings as a result of increasing AUM and returns from invested
capital
Gresham House currently manages investments and co-investments
through its investment management platform on behalf of
institutions, family offices, high-net-worth individuals, charities
and endowments and private individuals
Notes
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public domain. If
you have any queries on this, then please contact John-Paul
Preston, Chief Operating Officer of the Company (responsible for
arranging release of this announcement) on +44 (0) 20 3837
6270.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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