# Gresham House Strategic PLC Maiden Dividend and Share Buyback Programme

- Link: https://www.directorstalkinterviews.com/gresham-house-strategic-plc-maiden-dividend-share-buyback-programme/412726798
- Published: 2017-04-06T07:20:56+01:00
- Author: Giles Arbor

**Gresham House Strategic plc** ([LON:GHS](https://www.directorstalkinterviews.com/company/gresham-house-strategic-plc/ghs.l)),
the engaged investor applying private equity techniques to investing in smaller 
quoted companies, has today announced that following strong performance from its
portfolio of realised investments it intends to pay a first dividend under the new
Strategic Public Equity (“SPE”) strategy adopted in August 2015 of 15 pence per 
ordinary share, and to undertake a share buyback programme which, together with 
the dividend, will represent half of the Company’s profit from recent realisations.
As of 31 March 2017, the Company had £1.7 million of unaudited profits from realisations,
and it intends to distribute £864,573 via dividend and share buybacks, in line with
the Company’s stated policy on shareholder returns.

> **David Potter, Gresham House Strategic plc Non-Executive Chairman, commented:**“
> Today’s announcement demonstrates the Board’s confidence in the long term potential
> of our SPE strategy. Despite the tricky operating environment in the 18 months
> since we adopted this strategy the Company has made steady progress and investments
> are well positioned to generate NAV growth.”

As stated in the Interim Results announcement dated 25 November 2016, at that time
there were realisations available to be returned to shareholders representing approximately
15 pence per ordinary share of 50 pence each (“Ordinary Shares”), excluding shares
held in treasury. The Company intends to seek shareholder approval at its 2017 Annual
General Meeting to distribute approximately 15 pence per Ordinary Share to shareholders
by way of a final dividend.

Pursuant to the authority granted at the Company’s 2016 Annual General Meeting, 
the Company announces that from Thursday 6 April 2017 it will commence a share buyback
programme, subject to a maximum aggregate value equivalent to the balance remaining
of the profits from realisations not being paid out by way of a dividend, over a
maximum period of 30 calendar days, ending on Friday 5 May 2017.

The Company entered into an agreement with finnCap Ltd (“finnCap”) on 5 April 2017
to enable finnCap to purchase Ordinary Shares in accordance with the terms of the
general authority to make market purchases granted to the Company by its shareholders
at the 2016 Annual General Meeting held on 25 July 2016 and on the terms prescribed
above. Any shares repurchased will be cancelled.

During the course of the share buyback programme, the Company will make further 
notifications to the market as and when share purchases are made.

Gresham House plc (“Gresham House”), the parent company of the Company’s Investment
Manager Gresham House Asset Management Ltd, and members of the Gresham House investment
team, the Gresham House Strategic Public Equity Investment Committee and the Board
of the Company have all undertaken not to dispose of any Ordinary Shares through
the share buyback programme.

The Company expects to release its final results for the 12 months to 31 March 2017
in mid June 2017.

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