GHS.L Regulatory News (GHS)

20 December 2021

GRESHAM HOUSE STRATEGIC PLC

(The "Company")

Results of Tender Offer

The Company today announces the final results of the Tender Offer, details of which were set out in the circular to Shareholders dated 29 November 2021 (the "Circular").

Defined terms used in this announcement have the same meaning as given to them in the Circular.

A total of 1,635,436 Shares were validly tendered by Shareholders of which 827,499 Shares were in respect of Basic Entitlements and 807,937 Shares were in respect of Excess Applications. As a result, all valid tenders will be satisfied in full up to the Basic Entitlement and, following application of the scale-back mechanism (as set out in the Circular), tenders in excess of the Basic Entitlement will be satisfied to the extent of 13.9 per cent. of the excess Shares tendered (each such satisfied entitlement being rounded down to the nearest whole number of Shares). Accordingly, 939,838 Shares will be purchased at the Tender Price of £15.5117 previously announced and accepted for purchase by finnCap at the Tender Price for a total cost of £14,578,484.43. This represents approximately 27 per cent. of the Company's current share capital.

As set out in the Circular, finnCap will pay for the Shares accepted. Following the purchase, as further set out in the Circular, the Company will purchase from finnCap the Shares purchased by finnCap under the terms of the Tender Offer. The Company then intends to cancel such Shares, reducing the share capital of the Company from 3,480,884 Shares to 2,541,046 Shares.

It is anticipated that consideration for the Shares purchased under the Tender Offer will be sent to Shareholders by 5 January 2022 by way of a credit to their CREST accounts (for CREST account holders) or in the form of a cheque (for non-CREST account holders). CREST accounts will be credited with unsuccessfully tendered Shares, balancing certificates will be issued and share certificates for unsuccessfully tendered Shares will be sent by 5 January 2022.

If you have any questions, please telephone the Shareholder Helpline on 0371 664 0321 (from inside the UK) and +44 (0) 371 664 0321 (from outside the UK). Lines are open from 9.00 a.m. to 5.30 p.m. (London time) Monday to Friday (except public holidays in England and Wales). Please note that Link Group cannot provide any financial, legal or tax advice and calls to these numbers may be monitored or recorded for security and training purposes. Calls to the Shareholder Helpline are charged at the standard geographic rate and will vary by provider. Calls from outside the UK are charged at applicable international rates. Different charges may apply to calls made from mobile telephones.

For further information, please contact: