Gresham House Strategic PLC - investor in smaller UK public companies - Makes proposals to shareholders for a managed wind-down over a 24-month period. Suggests an initial return of GBP25 million in total, just under half of its market capitalisation, from a B share scheme and tender offer for its shares. Remaining capital will be returned as portfolio realisations are completed. Calls December 15 general meeting to approve the plan. Gresham House Strategic was forced into drawing up the run-off plan by largest shareholder and erstwhile investment manager Gresham House PLC after a public falling out between the two companies. New investment manager Harwood Capital commits to managing the Gresham House Strategic portfolio for no fee during the management wind-down period.
Current stock price: 1,639.00 pence, up 3.4% on Monday
Year-to-date change: up 19%
By Tom Waite; thomaslwaite@alliancenews.com
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