Gresham House Share Discussion Threads

[redhill9] 28/3/2017 11:02

I'd agree the operating loss is disappointing, specifically the size of the expenses, but I don't think many LMS fees would have been expected pre-31/12/16 and the other new FUM haven't yet had a full year. It's the increasing expenses that are the concern at this stage rather than the income.

Market seems uninterested - share price initially up a tad but now back where it started.

[redhill9] 15/3/2017 15:27

Bizarre or not? Someone has exercised a single warrant.

15 March 2017

Gresham House Plc ("Gresham House" or "the Company"

(AIM: GHE)

Exercise of Warrants

Gresham House, the specialist asset manager focused on alternative investment strategies and illiquid asset classes, notifies that application has been made for the admission to trading on AIM ("Admission") for 1 new Ordinary Share of 25p in the Company ("Ordinary Share") pursuant to the exercise of a shareholder warrant. The new Ordinary Share will rank pari passu in all respects with the existing Ordinary Shares of the Company. Admission of the new Ordinary Share is expected on 21 March 2017.

Following Admission, the Company's issued share capital will comprise 12,536,957 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 1,071,812 shareholder warrants in issue.

[topvest] 02/11/2016 19:08

Maybe long term but currently loss making.

[wirralowl] 01/11/2016 11:36

Positive tip update by Simon Thompson 'Exploiting undervalued situations', feels a fair value target of £4 not unrealistic.

[topvest] 31/10/2016 20:24

Forestry Fund reaches first close. Not something that i would invest in but definitely a market for this alternative asset class.

[skyship] 26/10/2016 09:00

Saffie Investments adds to holding, taking them to 520k (5.1%).

Saffie is an investment company owned by Damon Buffini:

[rathair] 06/10/2016 13:31

Gresham House receive early payment of £0.94 million



Gresham House plc, the specialist asset manager, is pleased to announce the early receipt of £0.94 million of deferred proceeds from the sale of the Newton-le-Willows site announced on 23 September 2015.

The purchaser has sold properties at the Newton-le-Willows site quicker than anticipated, triggering the early payment. The first scheduled repayment of £2.08 million due to the Company on 22 March 2017, will reduce to £1.14 million.

The Kleinwort Benson Bank Limited ("Kleinwort Benson") banking facility is secured against the deferred proceeds of the sale of Newton-le-Willows and in line with this agreement, £0.94 million has been repaid to Kleinwort Benson. The Company's borrowing under the facility now stands at £6.06 million.

Anthony Dalwood, CEO of Gresham House said,

"This is good news for the Company and demonstrates that the site at Newton-le-Willows is developing ahead of expectations. These accelerated sales give us confidence as we assess how to best realise value for our remaining land at Newton-le-Willows

[rathair] 05/9/2016 09:37

Half year results out on the 28th Sept.

[rathair] 29/8/2016 19:39

Sounds good for both companies.
Been a fair bit of steady buying at GHE over the past few weeks.

[kramch] 17/8/2016 10:11

A good opportunity to question the board; they expect major cost savings in LMS and believe the move to GHE will reinvigorate the LMS management. Apparently the Rayne interests were always opposed to winding up LMS. It seems a couple of LMS institutional investors objected to a more abject sell-out to GHE, and by R not participating in the tenders other investors gain. LMS will concentrate on small public equity opportunities, and GHS on private equity. The GHE board seems to have done quite a creative deal here, now all they have to do is to apply this to the funds they manage.
K.

[rathair] 15/8/2016 20:00

kramch I would be interested to hear how you get on if you get the time thanks.

[kramch] 15/8/2016 16:43

I'm going to the Gen Meeting tomorrow to ask what new they plan to do with LMS (apart from take fees of course).
K.

[topvest] 08/8/2016 16:50

Happy to hold here, but this is still a fairly early stage business and it will need a few years to come good in my view.

[rathair] 08/8/2016 12:57

"ahead of likely analyst upgrades in the coming weeks, and with LMS set to start buying shares in Gresham House to meet the requirement I outlined above.

[rathair] 08/8/2016 11:24

This is about to get several re ratings.
The price should rise considerably.
After results are digested and new broker notes issued etc.

[thomasthetank1] 19/4/2016 11:30

Read Liberum's note on GRESHAM HOUSE, out this morning, by visiting hxxps://www.research-tree.com/company/GB0003887287
"GH’s FY results confirm 2015 was a year of transition for the group. Key milestones include 1) being awarded its first investment management contract, adopting a Strategic Public Equity strategy and 2) acquiring one of the leading specialist asset managers of commercial forestry in the UK...."

[loobrush] 10/11/2015 23:28

Share price seems to have raced well ahead on Simon Thompsons tip-well above asset values-seems to be ahead of events to me-and price based on not many shares in free float until sells start on profit taking which could see it sliding back. Anyone a view on this ?

[redhill9] 05/11/2015 09:52

Interesting indeed. Very difficult from the outside to judge whether this is a good move or not for GH, it's one of those situations where you just need to trust the management to know what they're doing. So far they seem both active and imaginative so I'm happy to hold both shares and warrants, though I am considering selling my shares to buy more warrants as the gearing is attractive and they have 4 years to run.

A couple of points that caught my eye:

-- On completion of the Acquisition, Gresham House will become a trading company and consequently it will cease to be subject to those AIM Rules that relate to Investing Companies.

This will affect financial reporting, but not sure what else may be affected?

-- Gresham House also is seeking Shareholder approval to implement a long term incentive plan to align the interests of Shareholders and management in the long-term success of the Company.

Which presumably is code for giving the directors more shares in the company - fine, so long as the terms are reasonably incentivised.

[topvest] 04/11/2015 21:30

Interesting deal today through a reverse takeover. Things seem to shaping up nicely here. Woodland is definitely not my thing, but an interesting niche asset manager role that fits the bill and could have enlargement opportunities.

[topvest] 12/10/2015 20:06

Yes, seems to be motoring now. Interesting as SPARK has had a poor start, in share price terms. They need that to get to a premium if that is going to be their premier listed vehicle.

[rmillaree] 12/10/2015 15:27

Must be just about time for the chartists to turn up here? :)

[speedsgh] 12/10/2015 11:22

Tipped by Simon Thompson in his Investor Chronicle column today.

A sound mandate for growth - [subscription only]

"Frankly, if the board nails it, then a price-to-book value a little over one is going to look a bargain in 12 months time. I think this risk is worth taking on and rate the shares a buy and have a 12-month target price of 450p."

[topvest] 22/9/2015 15:29

Yes, I saw that - very sad news.