Gresham House PLC Completion of Investment and Issue of Shares (1131Q)
June 04 2018 - 2:00AM
UK Regulatory
TIDMGHE
RNS Number : 1131Q
Gresham House PLC
04 June 2018
4 June 2018
Gresham House Plc ("Gresham House" or "the Company")
(AIM: GHE)
Completion of Investment in Gresham House New Energy and Issue
of New Ordinary Shares
Gresham House, the specialist alternative asset manager, is
pleased to announce that the conditions precedent relating to its
investment into battery storage projects managed by Gresham House
New Energy, formerly Hazel Capital LLP, have now been fulfilled.
This follows the proposed acquisition announcement of 31 October
2017.
The GBP2.0 million investment will be used to acquire shares in
operational Energy Storage System ("ESS") projects as well as a 25%
stake in Noriker Power Limited, a developer and service provider of
new energy technology. The deal allows Gresham House to be more
closely aligned with its client base through investment in the
battery storage space alongside the opportunity to capture further
value from the development stages of projects.
As announced on 31 October 2017, the investment consideration is
comprised of GBP750,000 in cash and GBP1.25 million through the
issue of new Ordinary Shares. Accordingly, Gresham House is pleased
to announce that application has been made for the admission to
trading on AIM ("Admission") of 304,877 new Ordinary Shares of 25p
each in the Company at a price of 410p. The newly issued shares
rank pari passu in all respects with the existing Ordinary Shares
of the Company. Admission of the shares is expected to occur at
8.00 am on 7 June 2018.
Following Admission, the Company's issued share capital will
comprise 20,096,455 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.
Enquiries:
Gresham House plc
Anthony (Tony) Dalwood +44 (0) 20 3837 6270
Liberum Capital Ltd
Neil Elliot
Jill Li +44 (0)20 3100 2000
Montfort Communications greshamhouse@montfort.london
Gay Collins +44 (0)7798 626282
Rory King +44 (0)203 770 7906
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END
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