TIDMGHS

RNS Number : 0904Y

Gresham House Strategic PLC

17 August 2018

GRESHAM HOUSE STRATEGIC PLC

Partial sale of stake in IMI Mobile

Gresham House Strategic plc ("GHS" or "the Company") is pleased to announce that it has realised 42.2% of its holding in IMImobile ("IMI") for GBP9.6 million, which generated GBP4.96 million of profits for the Company. This realisation represented a 19% IRR and 2.13x money multiple, significantly above the company's stated target return of 15% IRR. Following the sale, the Company has a resultant holding of 6.3% of the issued share capital of IMI.

Tony Dalwood, Gresham House Investment Committee Chairman for Strategic Public Equity, commented:

"Gresham House remain supporters of IMImobile and the considerable market opportunity the business is targeting, and as such we have retained a significant investment in the company. It was appropriate to rebalance portfolio weightings at this stage of GHS' evolution after 3 years of Gresham House management. The Strategic Public Equity approach is highly engaged with companies that require growth and development capital, we therefore look forward to continue to drive total shareholder return through deployment in further long term investment opportunities."

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information please contact:

 
 Gresham House Strategic 
  plc                       David Potter             07711 450 391 
 Gresham House Asset 
  Management Ltd 
  Investment Manager         Tony Dalwood            0203 837 6270 
 finnCap Ltd 
  Nominated Adviser and     Matt Goode / William 
  Broker                     Marle/ Emily Watts      0207 220 0500 
                            Charles Cook / Sorrel 
 Attila Consultants          Davies                  0207 947 4489

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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.

END

DISDGGDIRXBBGIL

(END) Dow Jones Newswires

August 17, 2018 02:00 ET (06:00 GMT)

Rockwood Strategic (LSE:RKW)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Rockwood Strategic Charts.
Rockwood Strategic (LSE:RKW)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Rockwood Strategic Charts.