Gresham House PLC Disposal of shareholding in Rockwood Realisation (4334F)
21 March 2022 - 8:33PM
UK Regulatory
TIDMGHE
RNS Number : 4334F
Gresham House PLC
21 March 2022
21 March 2022
Gresham House plc
("Gresham House", the "Company" or the "Group")
Disposal of shareholding in Rockwood Realisation plc
Gresham House plc, the specialist alternative asset manager, is
pleased to announce the disposal of its entire 23.7% shareholding
in Rockwood Realisation plc (RKW). Gresham House Asset Management
had previously managed the fund, formerly known as Gresham House
Strategic plc (GHS), for six years from 2015. A change of manager
was announced in October 2021, and the fund was subsequently
renamed.
As part of the transaction, the Group has agreed to acquire an
investment in Hanover Co-Invest S.C.A. SICAV-RAIF Sub-Fund 1
("Hanover Co-Invest") from RKW for GBP855,586. The Hanover
Co-Invest acquisition is complementary as part of the Group's
ambition to grow its strategic equity platform.
The disposal of the Gresham House shareholding in RKW is in line
with its stated strategy of typically investing directly into
vehicles which it manages. The performance of GHS under Gresham
House management over the six years delivered a total return of
141%, a substantial outperformance versus the 74% of its benchmark,
and provides a further example of Gresham House generating
shareholder value from the use of balance sheet capital.
As a result of the disposal, Gresham House plc will have an
additional GBP8.5mn of cash on its balance sheet to support its
strategic growth priorities.
- Ends -
For more information contact:
Gresham House plc
Anthony Townsend, Chairman +44 (0)20 3837 6270
Houston
Alex Clelland gh@houston.co.uk
Kay Larsen +44 (0)204 529 0549
Joseph Burgess
Canaccord Genuity Limited - Nominated
Adviser and Joint Broker
Bobbie Hilliam
Georgina McCooke +44 (0)20 7523 8000
Jefferies International Limited
- 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, sustainable
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.GBP6.5 billion of assets 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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