Gresham House PLC Completion of Acquisition of Appian Asset Mgmt (3802D)
29 June 2021 - 4:00PM
UK Regulatory
TIDMGHE
RNS Number : 3802D
Gresham House PLC
29 June 2021
29 June 2021
Gresham House plc
("Gresham House", the "Company" or the "Group")
Completion of Acquisition of Appian Asset Management to
establish Gresham House Ireland
Gresham House (AIM: GHE), the specialist alternative asset
manager, is pleased to announce the completion of the acquisition
of Appian Asset Management Ltd ("Appian"), following regulatory
approval from the Central Bank of Ireland (the "Acquisition").
Based in the Republic of Ireland, Appian is an active asset
manager with c.EUR350 million in Assets Under Management (AUM) as
at 31 December 2020. The Acquisition enhances the Group's
capabilities to develop existing strategies in Ireland and Europe,
particularly those with a sustainability focus including forestry,
sustainable infrastructure and real estate.
Appian's existing funds complement those offered by Gresham
House and will benefit from the support of the Gresham House brand,
infrastructure and central resources. In addition, the ambition to
increase its presence in alternative asset classes dovetails with
the Group's existing forestry asset management platform and growth
strategy in Ireland.
The Acquisition forms part of the Group's international
expansion plans as the addition of a regulated EU-based platform
post-Brexit. It accelerates Gresham House's growth plans, as set
out in its five-year strategy GH25, and is expected to be earnings
enhancing for the Group with potential further value creation
through synergies and identified growth initiatives.
Application will be made for the admission to trading on AIM
("Admission") for 104,168 new ordinary shares of 25p each in the
Company ("Ordinary Shares") to be issued as part of the initial
consideration for the Acquisition. It is anticipated that the new
Ordinary Shares will be admitted to trading on AIM on or around 5
July 2021.
Following Admission, the Company's issued share capital will
comprise 32,945,875 Ordinary Shares, this figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
Appian will be known as Gresham House Ireland going forward,
subject to regulatory and other approvals.
-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
Kay Larsen
Gordon MRM ray@gordonmrm.ie
Ray Gordon 00 353 87 2417373
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
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,
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 c.GBP4.0bn of assets (as at 31 Dec
2020) 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 (PRI), our vision is to always make a positive social or
environmental impact, while delivering on our commitments to
shareholders, employees and investors.
www.greshamhouse.com
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END
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