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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gresham House Strategic Plc | LSE:GHS | London | Ordinary Share | GB00BYRH4982 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,395.00 | 1,360.00 | 1,430.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGHS
RNS Number : 0904Y
Gresham House Strategic PLC
17 August 2018
GRESHAM HOUSE STRATEGIC PLC
Partial sale of stake in IMI Mobile
Gresham House Strategic plc ("GHS" or "the Company") is pleased to announce that it has realised 42.2% of its holding in IMImobile ("IMI") for GBP9.6 million, which generated GBP4.96 million of profits for the Company. This realisation represented a 19% IRR and 2.13x money multiple, significantly above the company's stated target return of 15% IRR. Following the sale, the Company has a resultant holding of 6.3% of the issued share capital of IMI.
Tony Dalwood, Gresham House Investment Committee Chairman for Strategic Public Equity, commented:
"Gresham House remain supporters of IMImobile and the considerable market opportunity the business is targeting, and as such we have retained a significant investment in the company. It was appropriate to rebalance portfolio weightings at this stage of GHS' evolution after 3 years of Gresham House management. The Strategic Public Equity approach is highly engaged with companies that require growth and development capital, we therefore look forward to continue to drive total shareholder return through deployment in further long term investment opportunities."
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information please contact:
Gresham House Strategic plc David Potter 07711 450 391 Gresham House Asset Management Ltd Investment Manager Tony Dalwood 0203 837 6270 finnCap Ltd Nominated Adviser and Matt Goode / William Broker Marle/ Emily Watts 0207 220 0500 Charles Cook / Sorrel Attila Consultants Davies 0207 947 4489
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 rns@lseg.com or visit www.rns.com.
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(END) Dow Jones Newswires
August 17, 2018 02:00 ET (06:00 GMT)
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