Gresham House PLC Investment in Strategic Equity Capital
14 May 2021 - 4:05PM
RNS Non-Regulatory
TIDMGHE
Gresham House PLC
14 May 2021
14 May 2021
Gresham House plc
("Gresham House and affiliates", the "Company" or the
"Group")
Investment in Strategic Equity Capital
Gresham House (AIM: GHE), the specialist alternative asset
manager, is pleased to announce the purchase of shares in Strategic
Equity Capital plc ("SEC"), by Gresham House and its affiliates,
equating to 5.4% of the share capital. This investment in shares
confirms the Company's indication, made at the time of the
appointment of Gresham House Asset Management Limited ("GHAM") as
investment manager of SEC, on 27 March 2020, to acquire a
significant number of shares in SEC through the secondary market
over the medium-term.
Commenting on the transaction, Gresham House Chief Executive and
Chair of the Investment Committee, Tony Dalwood said: "This
purchase of shares is in line with Gresham House's practice of
aligning its interests as investment manager with those of clients.
With significant resources, both investment and distribution, in
place, together with a robust Strategic Public Equity process
refined over its successful 20-year track record, we believe we are
well placed to generate value for shareholders of SEC over the long
term."
Gresham House commenced its role in May 2020 with a clear
mandate to improve Net Asset Value (NAV) and share price
performance, and to narrow the Trust's discount. Gresham House is
committed to these long-term goals and has put in place a clear
plan to achieve them which has made significant progress to date
through increased profile and investment process enhancements.
As part of this plan Ken Wotton - the top-ranked manager with an
outstanding 10-year track record of stock selection in this area -
was made lead manager of SEC on 29 September 2020 alongside
existing fund manager Adam Khanbhai plus substantial resources
including an experienced investment committee. Since then the share
price and NAV have risen significantly, by 58.2% and 42.8%
respectively.
Both Ken and Adam are supported by the Gresham House platform
and network in Strategic Public Equity. This equity platform
manages c.GBP1bn of AUM, combining both a public and private equity
capability that underpins this specialist investment strategy.
SEC was launched by SVG Investment Managers Limited ("SVGIM") in
2005 with a distinctive investment strategy to apply private equity
techniques to public equities. At the time of its launch, SVGIM was
led by Gresham House CEO Tony Dalwood, supported by a broad private
equity platform.
Gresham House, as a specialist asset manager with AUM of GBP4.0
billion, believes it is a strong partner for this differentiated
investment approach which targets superior performance over the
long term.
-ends-
Gresham House plc
Tony Dalwood, Chief Executive
Kevin Acton, Chief Financial Officer +44 (0)20 3837 6271
Houston gh@houston.co.uk
Alexander Clelland +44 (0)20 4529 0549
Anushka Mathew
Canaccord Genuity Limited - Nominated Adviser
and Joint Broker
Bobbie Hilliam
Georgina McCooke +44 (0)20 7523 8000
Jefferies International Limited - Financial
Adviser and Joint Broker
Paul Nicholls
Max Jones +44 (0)20 7029 8000
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRADGGDURBBDGBX
(END) Dow Jones Newswires
May 14, 2021 02:05 ET (06:05 GMT)
Gresham House (LSE:GHE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gresham House (LSE:GHE)
Historical Stock Chart
From Apr 2023 to Apr 2024