Gresham Regulatory News (GHT)

1 June 2015

Gresham Computing plc

Directors' Dealings

Gresham Computing plc (the "Company" or "Gresham") received notification on 1st June 2015 from Kestrel Partners LLP ("Kestrel") that on 1st June 2015 it acquired from Chris Errington, Non-Executive Director of the Company, on behalf of its discretionary clients, 175,000 ordinary shares of 5p each ("Shares") in the Company at a price of £1.00 per share.

In addition, the Company received notification on 1st June 2015 from Chris Errington, Non-Executive Director, that on 1st June 2015 he disposed of 250,000 Shares in the Company at a price of £1.00 per share, of which 175,000 Shares were acquired by Kestrel as referred to in the above notification. Mr Errington continues to hold 532,268 Shares in the Company, which represents approximately 0.84% per cent of the Company's issued share capital.

Kestrel's notification also included the matters set out below.

Kestrel is the investment manager to Kestrel Opportunities, a cell of Guernsey Portfolios PCC Limited ("Kestrel Opportunities"), and various other clients. This disclosure relates to indirect Shares and voting rights in the Company that are managed by Kestrel on a discretionary basis.

Mr Royde is a partner of, and holds a beneficial interest in Kestrel. Mr Royde is also a shareholder in Kestrel Opportunities and is therefore deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding in Gresham.

Prior to this purchase of Shares, Kestrel on a combined basis indirectly held Shares and voting rights over 6,338,154 Shares in the Company.

Of the Shares purchased by Kestrel, 87,500 were acquired on behalf of Kestrel Opportunities and following this transaction, Kestrel Opportunities holds (and consequently Mr Royde is deemed to have a beneficial interest in) 6,064,664 Shares in the Company. The remaining 87,500 Shares were purchased on behalf of Kestrel's other discretionary clients, in which Mr Royde has no beneficial interest, who, following this transaction, hold a further 448,490 Shares in the Company.

On a combined basis, Kestrel indirectly holds voting rights over 6,513,154 Shares in the Company, which represents approximately 10.30% per cent of the Company's issued share capital.

Kestrel's interest in the Shares in the Company is held through the following nominees:

- Ends -

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