Gresham House Strategic Plc PLC Notice of Results and Share Buyback

Gresham House Strategic Plc

Notice of Results

Gresham House Strategic Plc (LON:GHS) announced today that its final results for the year ended 31 March 2018 will be announced on 19 June 2018.

Share Buyback

The Company also announces that pursuant to the authority granted at the Company’s 2017 Annual General Meeting, from 15 May 2018 up to (and including) 18 May 2017 the Company will commence a share buyback programme of ordinary shares of 50 pence each in the capital of the Company (“Ordinary Shares”), to a maximum value of £1.0 million (the “Buyback Programme”).

The Company entered into an agreement with finnCap Ltd (“finnCap”) on 14 May 2018 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 2017 Annual General Meeting held on 5 July 2017 (the “Authority”). The buyback programme will therefore be effected in accordance with the Authority and on the terms prescribed above. If Ordinary Shares to the maximum value of £1.0 million are not acquired pursuant to the Buyback Programme prior to the commencement of the Company’s closed period in respect of its Results (on 20 May 2018) then the Company will automatically enter into a further non-discretionary share buyback arrangement with finnCap, at which point a further announcement will be made.

The purpose of the share buyback is to reduce the Company’s share capital, with the result of increasing the Company’s net asset value per Ordinary Share. It is intended that any shares repurchased will be immediately cancelled. The maximum price paid per Ordinary Share is to be the lower of either (i) no more than 105 per cent. of the average middle market closing price of an Ordinary Share for the five business days preceding the date of any share buyback and an amount equal to the higher of the price of the last independent trade of an ordinary share and the highest current independent bid for an ordinary share, as derived from the trading venue where the purchase is carried out, or (ii) 950 pence per Ordinary Share.

Due to the limited liquidity in the issued Ordinary Shares, a buyback of Ordinary Shares pursuant to the Authority on any trading day is likely to represent a significant proportion of the daily trading volume in the Ordinary Shares on AIM and is likely to exceed 25 per cent. of the average daily trading volume, being the limit laid down in Article 5(1) of Regulation (EU) No 596/2014 and, accordingly, the Company will not benefit from the exemption contained in this Article.

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 (LON:GHE), 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 information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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Gresham House Strategic plc

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Gresham House Strategic plc

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