12 Nov 2019 07:00
12 November 2019
Gresham House plc
("Gresham House" or the "Company")
Exercise of Supporter Warrants
Gresham House, (AIM: GHE) the specialist alternative asset manager, notifies that application has been made for the admission to trading on AIM ("Admission") for 17,000 new Ordinary Shares of 25p each in the Company pursuant to the exercise of Supporter Warrants at an exercise price of 323.27p per share. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company. Admission of the new Ordinary Shares is expected on 15 November 2019.
As part of the original management buy-in, on 1 December 2014, the Company issued 850,000 Supporter Warrants to the new directors at that time and certain members of the Investment Committee and Advisory Group at a price of 7.5p per warrant. Each Supporter Warrant entitles the holder to subscribe for one Ordinary Share at an exercise price of 323.27 pence, exercisable at any time between 1 December 2015 and 31 December 2019. Prior to this announcement, 833,000 Supporter Warrants had been exercised.
The 17,000 Supporter Warrants being exercised, are currently held by a PDMR of the Company. On 11 November 2019, the Company received notification that the PDMR had exercised their Supporter Warrants in full and subsequently sold on the same day the Ordinary Shares issued following the exercise at a price of 612 pence per Ordinary Share (the "Dealings"). Further details on the Dealings are set out more fully in the table below:
Director / PDMR | Beneficial holding of Ordinary Shares prior to the Dealing | % of issued share capital prior to the Dealing | Number of Supporter Warrants exercised | Number of Ordinary Shares sold following the exercise of Supporter Warrants | Resultant Beneficial holding of Ordinary Shares after the Dealing | Resultant % of issued share capital after the Dealing |
Mr Bruce Carnegie-Brown | 34,855 | 0.1% | 17,000 | 17,000 | 34,855 | 0.1% |
Following Admission, the Company's issued share capital will comprise 27,752,992 Ordinary Shares, which 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. The Company does not hold any shares in treasury. In addition, the Company will have 211,533 Shareholder Warrants and no Supporter Warrants in issue.
- Ends -
For more information contact:
Gresham House plc Kevin Acton, Finance Director
| +44 (0)20 3837 6271
|
Houston Kate Hoare Alexander Clelland Anushka Mathew
| gh@houstonpr.co.uk +44 (0)20 3701 7660 |
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 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
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/person closely associate | |||||
a) | Name | Bruce Carnegie-Brown | ||||
2 | Reason for the notification | |||||
a) | Position/status | Investment Committee Member | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Gresham House plc | ||||
b) | LEI | N/A | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
Exercise of Supporter Warrants | ||||||
a) | Description of the financial instrument, type of instrument Identification code | Supporter Warrants in Gresham House plc.
ISIN: GB0003887287 | ||||
b) | Nature of the transaction | Exercise into Ordinary Shares in Gresham House plc | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A | ||||
e) | Date of the transaction | 11 November 2019 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
Sale of Gresham House plc Ordinary Shares | ||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 25p in Gresham House plc.
ISIN: GB0003887287 | ||||
b) | Nature of the transaction | Sell | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A | ||||
e) | Date of the transaction | 11 November 2019 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||