Tony Dalwood, Gresham House Investment Committee Chairman for Strategic Public Equity, commented:
“Gresham House remain supporters of IMImobile and the considerable market opportunity the business is targeting, and as such we have retained a significant investment in the company. It was appropriate to rebalance portfolio weightings at this stage of GHS’ evolution after 3 years of Gresham House management. The Strategic Public Equity approach is highly engaged with companies that require growth and development capital, we therefore look forward to continue to drive total shareholder return through deployment in further long term investment opportunities.”
Gresham House Strategic plc (LON:GHS) today announced that it has realised 42.2% of its holding in IMImobile for £9.6 million, which generated £4.96 million of profits for the Company. This realisation represented a 19% IRR and 2.13x money multiple, significantly above the company’s stated target return of 15% IRR. Following the sale, the Company has a resultant holding of 6.3% of the issued share capital of IMI.