Gresham House PLC Launch of Gresham House Energy Storage Fund Plc
November 09 2018 - 7:51AM
RNS Non-Regulatory
TIDMGHE
Gresham House PLC
09 November 2018
Gresham House Plc
("Gresham House," "the Group" or "the Company")
Gresham House announces the successful GBP100m launch of the
Gresham House Energy Storage Fund Plc
Gresham House plc (AIM: GHE) is pleased to announce the
successful Gresham House Energy Storage Fund Plc issue ("the
Fund").
The Fund will be managed by the New Energy division of Gresham
House Asset Management, the specialist renewable and storage asset
manager.
The net proceeds will be used by the Fund to acquire a Seed
Portfolio for a consideration of GBP57.22 million* immediately
following Admission and will subsequently be available to invest in
an exclusive pipeline of utility-scale Energy Storage Systems (ESS)
in Great Britain.
These assets provide services to the National Grid to support
grid stability as well as delivering the essential infrastructure
required to enable Great Britain's increasing reliance on
intermittent sources of renewable energy such as wind and
solar.
The Supplementary Prospectus for Gresham House Energy Storage
Fund Plc is available on the Company's website:
newenergy.greshamhouse.com/esfplc.
Tony Dalwood, Chief Executive Officer of Gresham House, said:
"We are pleased to have raised GBP100m against a backdrop of
volatile markets. Gresham House Energy Storage Fund Plc provides
our clients with access to a new and innovative, fast-growing
sector and is highly complementary to solar and wind investments.
We now have a strong platform from which to grow a substantial
"institutional scale" fund."
For further enquiries, please contact:
Gresham House
Ben Guest +44 (0) 203 837 6270
Canaccord
Bobbie Hilliam
Michael Reynolds
Jefferies +44 (0)20 7523 8000
Paul Nicholls
Max Jones
Chris Binks +44 (0)20 7029 8000
Montfort Communications greshamhouse@montfort.london
Gay Collins / +44 (0) 779 862 6282
Louis Supple /
+44 (0) 203 770 7907
* Not taking into account any debt owed, working capital
balances or cash held by any of the Seed Project Companies.
About Gresham House
Gresham House plc is an AIM quoted specialist asset manager
providing funds, direct investments and tailored investment
solutions, including co-investment across a range of highly
differentiated alternative investment strategies. Our expertise
includes strategic public and private equity (private assets),
forestry, renewable energy, housing and infrastructure, The Group
aims to deliver sustainable financial returns and is committed to
building long-term partnerships with clients, (institutions, family
offices, high-net-worth individuals, charities and endowments and
private individuals) to help them achieve their financial
goals.
Shareholder value creation will be driven by long-term growth in
earnings as a result of increasing AUM and returns from invested
capital.
www.greshamhouse.com
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END
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