GHS.L Regulatory News (GHS)

1 May 2018

Gresham House Strategic Plc ("GHS" or the "Company")

(AIM: GHS)

Authorisation of Gresham House Asset Management as an AIFM and Appointment of Depository

The Board of the Company announces the authorisation of its investment manager, Gresham House Asset Management Limited ("GHAM"), as a full-scope Alternative Investment Fund Manager ("AIFM") by the Financial Conduct Authority under the requirements of the Alternative Investment Fund Management Directive ("AIFMD").

GHAM will continue to have responsibility for the management and administration of GHS's portfolio and the distribution of shares, subject to the overall supervision and control of the Directors of GHS. The fees and principal terms of Gresham House Asset Management's appointment as AIFM remain unchanged.

INDOS Financial Limited ("INDOS" or the "Depositary") has been appointed to act as depositary by GHAM for GHS, effective from 1 May 2018. INDOS is authorised and regulated by the Financial Conduct Authority.

The Company has published a summary of the principal terms of GHAM's appointment by GHS and the appointment of INDOS as the depositary to GHS in a supplementary memorandum on the company's website. This information can be found at http://strategicequity.greshamhouse.com/investor-relations//.

Additionally, the AIFMD requires the Company to provide certain additional information to shareholders. This information can be found at  http://strategicequity.greshamhouse.com/investor-relations//. 

Pursuant to the Depositary Agreement, the Depositary shall be paid fees on normal commercial terms by the Company.

The Depositary does not warrant the contents of this announcement (other than information pertaining to it), nor is it involved in the management, administration or net asset value calculation of the Company. The services as Depositary may be terminated by the Company or the Depositary at any time, subject to three months' prior written notice and the appointment of a replacement depositary, or on immediate written notice by any such party in the event of certain circumstances set out in the Depositary Agreement.

The Company will indemnify and hold harmless the Depositary, its directors, officers, and employees from and against any losses, expenses and liabilities incurred by such persons in the performance of services under the Depositary Agreement. However, the Depositary, its directors, officers, employees and/or agents will not be indemnified by the Company for any such action or inaction arising from fraud, wilful default, or negligence on the part of the Depositary. The Depositary has delegated safekeeping duties to a sub-custodian ("Sub-Custodian"). The Depositary has also discharged to the Sub-Custodian various liabilities in respect of assets held at the Sub-Custodian. The Depositary has no investment discretion over the assets of the Company.

The Depositary may appoint sub-custodians, agents or delegates to hold the assets of the Company, provided that the Depositary shall exercise reasonable skill, care and due diligence in the selection of a suitable sub-custodian and shall be responsible to the Company for the duration of the relevant sub-custody agreement for satisfying itself as the ongoing suitability of the sub-custodians to provide custodial services to the Company. The Depositary will also maintain an appropriate level of supervision over the sub-custodians and will make appropriate inquiries periodically to confirm that the obligations of the sub-custodians continue to be competently discharged.