Gresham House PLC Share issuance to EBT and ESS Exercises by PDMRs (2278U)
July 28 2020 - 2:00AM
UK Regulatory
TIDMGHE
RNS Number : 2278U
Gresham House PLC
28 July 2020
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 GBP332,326.50 (the
"New Ordinary Shares"). The Company has agreed to lend
GBP332,326.50 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 Resultant Percentage
Shares received shareholding holding
as a result in Gresham
of the exercise House plc
of ESS Options
Chief Executive
Anthony Dalwood Officer 635,685 1,011,190 3.2%
------------------- ----------------- -------------- -----------
Rupert Robinson Managing Director 496,629 559,857 1.9%
------------------- ----------------- -------------- -----------
Chief Financial
Kevin Acton 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 +44 (0)20 3837 6271
Houston PR gh@houstonpr.co.uk
Kate Hoare +44 (0)20 3701 7660
Alexander Clelland
Anushka Mathew
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
a) Name Anthony Dalwood
------------------------- -----------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------- -----------------------------------------------------
b) Initial Initial Notification
notification/
Amendment
------------------------- -----------------------------------------------------
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 Ordinary Shares
of the
financial
instrument, IDENTIFICATION CODE FOR GRESHAM HOUSE PLC ORDINARY
type of SHARES GB0003887278
instrument
Identification
code
------------------------- -----------------------------------------------------
b) Nature Receipt of Ordinary Shares from the Employee Benefit
of the Trust following the exercise of 320 A Ordinary
transaction 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) Price(s) Volume(s)
and volume(s)
- 635,685
----------
------------------------- -----------------------------------------------------
d) Aggregated
information
* Aggregated volume N/A
* Price
------------------------- -----------------------------------------------------
e) Date of 27 July 2020
the transaction
------------------------- -----------------------------------------------------
f) Place of Outside a trading venue
the transaction
------------------------- -----------------------------------------------------
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 Initial Notification
notification/
Amendment
------------------------- -----------------------------------------------------
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 Ordinary Shares
of the
financial
instrument,
type of IDENTIFICATION CODE FOR GRESHAM HOUSE PLC ORDINARY
instrument SHARES GB0003887278
Identification
code
------------------------- -----------------------------------------------------
b) Nature Receipt of Ordinary Shares from the Employee Benefit
of the Trust following the exercise of 250 A Ordinary
transaction 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) Price(s) Volume(s)
and volume(s)
- 496,629
----------
------------------------- -----------------------------------------------------
d) Aggregated
information
* Aggregated volume N/A
* Price
------------------------- -----------------------------------------------------
e) Date of 27 July 2020
the transaction
------------------------- -----------------------------------------------------
f) Place of Outside a trading venue
the transaction
------------------------- -----------------------------------------------------
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 Initial Notification
notification/
Amendment
------------------------- -----------------------------------------------------
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 Ordinary Shares
financial
instrument, IDENTIFICATION CODE FOR GRESHAM HOUSE PLC ORDINARY
type of SHARES GB0003887278
instrument
Identification
code
------------------------- -----------------------------------------------------
b) Nature Receipt of Ordinary Shares from the Employee Benefit
of the Trust following the exercise of 104 B Ordinary
transaction 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) Price(s) Volume(s)
and volume(s)
- 196,992
----------
------------------------- -----------------------------------------------------
d) Aggregated
information
* Aggregated volume N/A
* Price
------------------------- -----------------------------------------------------
e) Date of 27 July 2020
the transaction
------------------------- -----------------------------------------------------
f) Place of Outside a trading venue
the transaction
------------------------- -----------------------------------------------------
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END
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