Gresham House plc (LON: GHE), the specialist alternative asset manager, announces that certain directors and employees have elected to invest and defer up to the maximum amount permitted of their 2018 bonus award into ordinary shares in the Company pursuant to the Company’s Bonus Share Matching Plan.
The purpose of the Plan is to encourage Gresham House employees to invest in the long-term growth of the Company. Under the Plan, equal portions of any award are subject to achieving 7 per cent. compound annual growth rate in total shareholder return and out-performing the FTSE All Share Index from the date of deferral. In the event that this performance condition is not met, the participants of the Plan will receive only the ordinary shares acquired with the deferred bonus.
Further details of the Plan are set out at page 91 of the 2018 annual report, which can be found on the Company’s website, www.greshamhouse.com.
Application has been made for the admission to trading on AIM for 107,225 Ordinary Shares issued under the Plan at a price of 445.33p per Ordinary Share, which equates to the average of the mid-market closing price over the ten trading days prior to Award as set out in as set out in the terms of the Plan. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company. Admission of the new Ordinary Shares is expected on 27 March 2019.
Following Admission, Gresham House plc issued share capital will comprise 24,989,570 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.