Gresham House Strategic PLC - investor in smaller UK public companies - Gresham House PLC, the company's current investment manager and biggest shareholder, requisitions an extraordinary general meeting to propose returning all cash on the Gresham House Strategic balance sheet to shareholders and realise all assets over the next two years.
Gresham House says it has received written support for its proposals, which added to its own 23% holding amount to 43.7% of all shares. The call for a meeting comes after Gresham House Strategic decided earlier this month to switch investment manager to Harwood Capital LLP, part of Harwood Capital Management Group, and change its name to Rockwood Strategic PLC.
Gresham House and Gresham House Strategic have been locking horns since at least May, when Gresham House demanded GHS's chair be replaced. Gresham House Strategic on Wednesday responds that comments made by Gresham House contain a number "material inaccuracies" and do not "take account of the best interests of all shareholders".
Current stock price: 1,790.00 pence, down 1.7%
Year-to-date change: up 30%
By Tom Waite; thomaslwaite@alliancenews.com
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