Gresham House, the specialist alternative asset manager, announces that the management team and certain employees have elected to invest and defer up to the maximum amount permitted of their 2017 bonus award into ordinary shares in the Company (the “Ordinary Shares”) pursuant to the Company’s Bonus Share Matching Plan (the “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% 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 39 of the 2017 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 (“Admission”) for 109,540 Ordinary Shares issued under the Plan at a price of 410.8p per Ordinary Share, which equates to the average of the market closing price over the last ten trading days as set out in theterms 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 15 May 2018.