Gresham House PLC GM Requisition and Fund Manager update

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Gresham House PLC

25 May 2021

25(th) May 2021

Gresham House plc

("Gresham House")

GM Requisition and Fund Manager update

On 21 May 2021, Gresham House plc (AIM: GHE) requisitioned a General Meeting (GM) of the shareholders of GHS to consider resolutions that would, if passed, support GHS's compliance with the AIC Code of Corporate Governance provisions regarding tenure and that the directors of GHS, by 12 July 2021, undertake a strategic review of GHS's strategy to determine the best means of maximising value for all GHS shareholders. In addition, a resolution to commit GHS to not issuing GHS shares below NAV has been proposed by Gresham House.

Gresham House welcomes the clear intent from GHS that it intends to consult with Rock Nominees Limited (on behalf of Gresham House) regarding possible modification to the GM resolutions proposed by Gresham House.

Gresham House, the largest shareholder in GHS with a 23% shareholding over nearly six years, today announces that it has accepted the resignation of Richard Staveley, who is a Gresham House employee and one of the GHS fund managers. Richard who was with Gresham House for 20 months has left the business with immediate effect.

GHS, with GBP58 million of Gresham House's GBP4.0 billion in Assets Under Management (AUM), is one of several funds managed by the successful Strategic Equity team at Gresham House. The core team comprising Laurence Hulse, who has been directly involved in GHS since Gresham House became GHS's Investment Manager nearly six years ago, alongside Tony Dalwood, fund manager and Chair of the GHS Investment Committee, will continue to manage GHS's portfolio as they have done since 2015.

GHS has delivered standout performance versus peers since Gresham House was appointed Investment Manager in 2015, delivering a Share Price Total Return of 76.2% over three years and 111.3% over five years (the UK Smaller Companies AIC sector, delivered 32.3% and 96.8% respectively) [1] . This track record draws on the core team's 20 years' experience of applying a private equity approach to public markets consistently.

The long-term track record of GHS remains strong in both absolute and relative terms. The resources within Gresham House's Strategic Equity team are significant and remain focused on targeting superior returns through this specialist and engaged investment approach.

We wish Richard well for the future.

-ends-

 
 Gresham House plc 
  Rupert Robinson, Managing Director              [phone] 
 Houston                                          [e-mail] 
  Alexander Clelland                               [phone] 
  Anushka Mathew 
 Canaccord Genuity Limited - Nominated Adviser 
  and Joint Broker 
  Bobbie Hilliam 
  Georgina McCooke                                [phone] 
 Jefferies International Limited - Financial 
  Adviser and Joint Broker 
  Paul Nicholls 
  Max Jones                                       [phone] 
 

[1] AIC as at 24 May 2021

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May 25, 2021 09:53 ET (13:53 GMT)