28 Jul 2020 07:00
28 July 2020
Gresham House plc
("Gresham House" or the "Company")
Share issuance to EBT and ESS Exercises by PDMRs
Gresham House (AIM: GHE), the specialist alternative asset manager, was notified on 27 July 2020 that the Company's Employee Benefit Trust ("EBT") intends to subscribe for 1,329,306 ordinary shares of 25 pence in the Company ("Ordinary Shares") at their par value and at an aggregate cost to the EBT of £332,326.50 (the "New Ordinary Shares"). The Company has agreed to lend £332,326.50 to the EBT to fund its subscription for the New Ordinary Shares.
The New Ordinary Shares are intended to be used by the EBT to satisfy the requests received from three of the Company's PDMRs to exercise previously announced Employee Share Scheme options over Gresham House Holdings Limited ("GHHL") shares ("ESS Options"). The ESS Options were issued under the long term incentive plan approved by the Company's shareholders at the General Meeting of the Company held on 20 November 2015 ("2016 LTIP").
The ESS Options were satisfied in accordance with the provisions of the 2016 LTIP by the Company repurchasing 320 GHHL A Shares from Mr Dalwood, 250 GHHL A Shares from Mr Robinson and 104 GHHL B Shares from Mr Acton in exchange for Ordinary Shares. Their resultant holdings are below:
Director/PDMR | Title | New Ordinary Shares received as a result of the exercise of ESS Options | Resultant shareholding in Gresham House plc | Percentage holding |
Anthony Dalwood | Chief Executive Officer | 635,685 | 1,011,190 | 3.2% |
Rupert Robinson | Managing Director | 496,629 | 559,857 | 1.9% |
Kevin Acton | Chief Financial Officer | 196,992 | 229,367 | 0.7% |
Accordingly, on 27 July 2020, the Company allotted the New Ordinary Shares to the EBT and such shares will rank pari passu in all respects with the existing ordinary shares of the Company. It is anticipated that the New Ordinary Shares will be admitted to trading on AIM on or around 31 July 2020 ("Admission").
Following Admission, the Company's issued share capital will comprise 32,091,707 Ordinary Shares, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. The Company does not hold any shares in treasury.
- Ends -
For more information contact: Gresham House plc Kevin Acton, Chief Financial Officer
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+44 (0)20 3837 6271
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Houston PR Kate Hoare Alexander Clelland Anushka Mathew
| gh@houstonpr.co.uk +44 (0)20 3701 7660 |
Canaccord Genuity Limited - Nominated Adviser and Joint Broker Bobbie Hilliam Georgina McCooke
| +44 (0)20 7523 8000 |
Jefferies International Limited - Financial Adviser and Joint Broker Paul Nicholls Max Jones | +44 (0)20 7029 8000 |
About Gresham House
Gresham House plc is an AIM quoted specialist asset manager providing funds, direct investments and tailored investment solutions, including co-investment across a range of highly differentiated alternative investment strategies. Our expertise includes timber, renewable energy, housing and infrastructure, strategic public and private equity (private assets). The group aims to deliver sustainable financial returns and is committed to building long-term partnerships with clients (institutions, family offices, high-net-worth individuals, charities and endowments and private individuals) to help them achieve their financial goals.
Shareholder value creation will be driven by long-term growth in earnings as a result of increasing AUM and returns from invested capital.
www.greshamhouse.com
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/person closely associated
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a) | Name
| Anthony Dalwood | ||||
2 | Reason for the notification
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a) | Position/status
| Chief Executive Officer | ||||
b) | Initial notification/ Amendment
| Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Gresham House plc | ||||
b) | LEI
| N/A | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a) | Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares
IDENTIFICATION CODE FOR GRESHAM HOUSE PLC ORDINARY SHARES GB0003887278
| ||||
b) | Nature of the transaction
| Receipt of Ordinary Shares from the Employee Benefit Trust following the exercise of 320 A Ordinary Shares in Gresham House Holdings Limited (a wholly owned subsidiary of Gresham House plc), the value of which is derived from the increase in value of the ordinary shares in Gresham House plc.
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c) | Price(s) and volume(s)
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| ||||
d) | Aggregated information
-Aggregated volume
-Price
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N/A
| ||||
e) | Date of the transaction
| 27 July 2020 | ||||
f) | Place of the transaction
| Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Rupert Robinson | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Managing Director | ||||
b) | Initial notification/ Amendment
| Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Gresham House plc | ||||
b) | LEI
| N/A | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a) | Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares
IDENTIFICATION CODE FOR GRESHAM HOUSE PLC ORDINARY SHARES GB0003887278
| ||||
b) | Nature of the transaction
| Receipt of Ordinary Shares from the Employee Benefit Trust following the exercise of 250 A Ordinary Shares in Gresham House Holdings Limited (a wholly owned subsidiary of Gresham House plc), the value of which is derived from the increase in value of the ordinary shares in Gresham House plc.
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c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
-Aggregated volume
-Price
|
N/A
| ||||
e) | Date of the transaction
| 27 July 2020 | ||||
f) | Place of the transaction
| Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Kevin Acton | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Chief Financial Officer | ||||
b) | Initial notification/ Amendment
| Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Gresham House plc | ||||
b) | LEI
| N/A | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a) | Description of the financial instrument, type of instrument
Identification code
|
Ordinary Shares
IDENTIFICATION CODE FOR GRESHAM HOUSE PLC ORDINARY SHARES GB0003887278
| ||||
b) | Nature of the transaction
| Receipt of Ordinary Shares from the Employee Benefit Trust following the exercise of 104 B Ordinary Shares in Gresham House Holdings Limited (a wholly owned subsidiary of Gresham House plc), the value of which is derived from the increase in value of the ordinary shares in Gresham House plc.
| ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
-Aggregated volume
-Price
|
N/A
| ||||
e) | Date of the transaction
| 27 July 2020 | ||||
f) | Place of the transaction
| Outside a trading venue | ||||