16 May 2019 07:00
Gresham House plc
("Gresham House" or the "Company")
AGM statement
Gresham House plc, (AIM:GHE) the specialist alternative asset manager, will hold its Annual General Meeting today at 12.30 pm in Octagon Point, 5 Cheapside, London, EC2V 6AA.
Anthony Townsend, Non-Executive Chairman, will make the following statement:
"The Company is pleased to announce that current trading of the business is in line with management's expectations. As highlighted in recent announcements, the Group continues to successfully target organic growth from its Strategic Equity and Real Assets divisions alongside identified synergies from acquisitions executed in 2018.
"The international expansion of the Forestry division has started. A new relationship with a large institutional investor has resulted in a signed letter of intent for the asset management of a substantial Irish forestry portfolio on its behalf. This successful and significant development is an example of how far our Forestry division's integration plans have progressed and involved all parts of the integrated Group.
"Additionally, a new fund raising has commenced for Gresham House Energy Storage Fund plc (GRID), following the recent announcement of a placement of up to £75 million to acquire further battery storage projects.
"We have started the year in line with management plans and have made good progress developing the international side of the Forestry business through the proposed organic growth into Ireland. The quality of our business' brand and its people is increasingly being recognised through industry awards and we remain optimistic for the rest of 2019."
- Ends -
For more information contact:
Gresham House plc Kevin Acton, Finance Director
| +44 (0)20 3837 6270
|
Montfort Communications Olly Scott Louis Supple
| greshamhouse@montfort.london +44 (0)78 1234 5205 +44 (0)20 3770 7914 |
Canaccord Genuity Limited - Nominated Adviser and Joint Broker Bobbie Hilliam Jack Haynes
| +44 (0)20 7523 8000 |
Jefferies International Limited - Financial Adviser and Joint Broker Paul Nicholls Max Jones Chris Binks | +44 (0)20 7029 8000 |
About Gresham House
Gresham House plc is an AIM quoted specialist asset manager providing funds, direct investments and tailored investment solutions, including co-investment across a range of highly differentiated alternative investment strategies. Our expertise includes timber, renewable energy, housing and infrastructure, strategic public and private equity (private assets). The group aims to deliver sustainable financial returns and is committed to building long-term partnerships with clients (institutions, family offices, high-net-worth individuals, charities and endowments and private individuals) to help them achieve their financial goals.
Shareholder value creation will be driven by long-term growth in earnings as a result of increasing AUM and returns from invested capital.
www.greshamhouse.com