Gresham House Strategic Share Discussion Threads

[dangersimpson2] 10/1/2019 23:54

I have a lot of time for Graham Bird. He knows his investee companies really well and is pretty active in engaging with the management and other shareholders. I did think he was pretty crazy having 40%+ in IMImobile but when you realise this was a legacy holding from when Gresham House took on the IT and they have recently sold down to more sensible levels.

The challenge here is that the discount is too big, and the normal thing to do would be to buy back shares. If you believe in your investments then what is better than buying more at a 25% discount? This is what they did before and it helped narrow the discount but when they stopped it widened again. So keep buying right? The problem with that strategy is that it reduces the size of the IT and then the reduced fees don't cover the costs of running the IT (which are to some extent fixed by regulatory costs etc.) So this is still slightly sub-scale as a fund. If Graham can keep delivering good returns this will start to fix itself. Personally I would like to see them start to cut the fees as they get larger but this may be wishful thinking.

[chinahere] 10/1/2019 19:38

Thought to restart on this thread as it has charts and news.

Simon Thompson in IC tipped this January 2019.

Currently £10 million in cash and £30+ million investments but market cap priced at £31 million.

Dividends and share buybacks to come?

Anyone else like this?

[chinahere] 10/1/2019 19:20

OP. Could we get a price chart and RNS news in the headers?

[chinahere] 07/1/2019 09:27

Tipped in IC this week.

The 27% NAV discount is attractive and the 25% market cap of cash is too. The admin / performance fees look high though.

[harry rags] 17/9/2018 07:27

https://www.directorstalk.net/interview-gresham-house-plc-developing-a-high-quality-pipeline-of-new-opportunities/Interview by Gresham House CEO

[harry rags] 05/9/2018 09:41

Why no RNS?IMImobile PLC Holding(s) in CompanySource: UK Regulatory (RNS & others)TIDMIMORNS Number : 8226ZIMImobile PLC05 September 2018TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)(i) 1a. Identity of the issuer or the IMI MOBILE PLC underlying issuer of existing shares to which voting rights are attached(ii) : ----------------------------------------------------------- 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) Non-UK issuer ------------------ 2. Reason for the notification (please mark the appropriate box or boxes with an "X") An acquisition or disposal of voting rights X ------------------ An acquisition or disposal of financial instruments ------------------ An event changing the breakdown of voting rights ------------------ Other (please specify)(iii) : ------------------ 3. Details of person subject to the notification obligation(iv) Name GRESHAM HOUSE ASSET MANAGEMENT LTD City and country of registered office LONDON, UK (if applicable) 4. Full name of shareholder(s) (if different from 3.)(v) Name GRESHAM HOUSE STRATEGIC PLC GRESHAM HOUSE STRATEGIC PUBLIC EQUITY FUND LP GRESHAM HOUSE PLC ----------------------------------------------------------- City and country of registered office LONDON, UK (if applicable) ----------------------------------------------------------- 5. Date on which the threshold was 04/09/2018 crossed or reached(vi) : ----------------------------------------------------------- 6. Date on which issuer notified (DD/MM/YYYY): 04/09/2018 ----------------------------------------------------------- 7. Total positions of person(s) subject to the notification obligation % of voting % of voting rights Total of both Total number rights attached through financial in % (8.A + of voting rights to shares (total instruments 8.B) of issuer(vii) of 8. A) (total of 8.B 1 + 8.B 2) ----------------------- --------------------- ---------------- ------------------ Resulting situation on the date on which threshold was crossed or reached 6.1% 6.1% 65,334,229 ----------------------- --------------------- ---------------- ------------------ Position of previous notification (if applicable) 8.4% 8.4% ----------------------- --------------------- ---------------- ------------------ 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached(viii) A: Voting rights attached to shares Class/type of Number of voting rights(ix) % of voting rights shares ISIN code (if possible) Direct Indirect Direct Indirect (Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive 2004/109/EC) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC) (DTR5.1) (DTR5.2.1) (DTR5.2.1) --------------------- GB00BLBP4Y22 3,987,392 6.1% -------------------- --------------------- ----------------------------------- --------------------- SUBTOTAL 8. A 3,987,392 6.1% ------------------------------------------- ---------------------------------------------------------- B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) Type of Expiration Exercise/ Number of voting % of voting financial date(x) Conversion rights that may rights instrument Period(xi) be acquired if the instrument is exercised/converted. -------------------- --------------------- ----------------------------------- --------------------- SUBTOTAL 8. B 1 --------------------- ----------------------------------- --------------------- B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) Type of Expiration Exercise/ Physical or Number of % of voting financial date(x) Conversion cash voting rights rights instrument Period (xi) settlement(xii) --------------------- --------------------- ---------------- ----------------- SUBTOTAL 8.B.2 ---------------- ----------------- 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer(xiii) Full chain of controlled undertakings through which the voting rights X and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity(xiv) (please add additional rows as necessary) Name(xv) % of voting rights % of voting rights Total of both if if it equals or through financial it equals or is is higher than the instruments if it higher than the notifiable threshold equals or is higher notifiable threshold than the notifiable threshold ------------------------ ---------------------- ---------------------- GRESHAM HOUSE STRATEGIC plc 4.9% 4.9% ------------------------ ---------------------- ---------------------- GRESHAM HOUSE STRATEGIC PUBLIC EQUITY FUND LP 1.1% 1.1% ------------------------ ---------------------- ---------------------- GRESHAM HOUSE PLC 0.16% 0.16% ------------------------ ---------------------- ---------------------- 10. In case of proxy voting, please identify: Name of the proxy holder ---------------------------------------------- The number and % of voting rights held ---------------------------------------------- The date until which the voting rights will be held ---------------------------------------------- 11. Additional information(xvi) Holding managed by Gresham House Asset Management Ltd. Across two funds - Gresham House Strategic PLC and Gresham House Strategic Public Equity Fund LP (including a co-investment commitment from Gresham House plc) Place of completion LONDON, UK Date of completion 04/09/2018 ----------- 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 [e-mail] or visit www.rns.com.ENDHOLLIFEDAEIEIIT(END) Dow Jones NewswiresSeptember 05, 2018 03:58 ET (07:58 GMT)

[westofengland] 17/8/2018 11:39

I don't think this is necessary or desirable. The Trust has done a good job for shareholders; has bought in stock; the manager has purchased shares and they have initiated a dividend policy.

I think we should congratulate the Trust on doing a good job for shareholders and now they can concentrate on putting this cash to work for shareholders and building up the Trust's size.

[harry rags] 17/8/2018 08:28

A return of capital to shareholders ?

[rampmeister] 04/7/2018 00:05

GHS’s stake in IMImobile accounted for 44 per cent of the company’s NAV prior to todays announcement of new acquisition by IMO. IMO's price is up 11% today but GHS share price is unmoved. IMO must now be exceeding 50% OF GHS nav - shouldn't be long before this gets noticed.

RM

[sharesoc] 08/5/2018 21:55

Gresham House's presentation and stockopedia report from our Birmingham seminar on the 1st May is available in our members area:

[sharesoc] 17/4/2018 14:58

Gresham House present at our growth company seminar on the 1st May in Birmingham. This may be of interest to shareholders and potential investors.

[sharesoc] 04/4/2018 12:03

Gresham House present at our growth company seminar on the 1st May in Birmingham.

[sharesoc] 29/3/2018 15:49

The stockopedia report and presentation from Gresham House at our Manchester seminar last night can be found in our members area here:

[sharesoc] 20/3/2018 18:34

Gresham House present at our next Manchester seminar just over a week away. It may be of interest to potential investors or current shareholders, more details here:

[sharesoc] 06/3/2018 19:23

Gresham House present at our next Manchester seminar on the 28th March which may be of interest to investors. More details here:

[sharesoc] 06/3/2018 16:42

Gresham House present at our Leeds seminar on the 21st March, which may be of interest to current shareholders and potential investors. More details here:

[harry rags] 18/12/2017 16:00

After the last NAV this must surely be due for an uplift in the share price IMHO

[harry rags] 11/10/2017 15:30

Perhaps we will get rid of that annoying note that comes with the NAV updates now that IMO are trading at 220p +

[glawsiain] 10/10/2017 10:46

GHS' largest holding, Imimobile, went up 19.41% yesterday.

[glawsiain] 18/9/2017 11:42

found this