Statement regarding Investment Manager
20 December 2023
Strategic Equity Capital plc
("SEC plc" or the "Company")
Statement regarding Investment Manager
The Board of Strategic Equity Capital plc notes the announcement from Gresham House plc (“Gresham House”) that the scheme of arrangement, published on 4 August 2023, to implement the acquisition of Gresham House by Seed Bidco Limited pursuant to Part 26 of the Companies Act 2006 ("Scheme") has become effective on 19 December 2023.
The Scheme implements the terms of the recommended cash offer of Seed Bidco Limited, a newly incorporated entity formed by funds advised by Searchlight Capital Partners, L.P. and its affiliates, for the entire issued share capital of Gresham House (the “Acquisition”).
The Company’s Investment Manager and AIFM is Gresham House Asset Management Limited (the “Investment Manager”), which is wholly owned by Gresham House.
The Board of the Company is not currently expecting any change to the relationship between the Company and the Investment Manager, and has been informed that the Gresham House leadership team and all key individuals that currently manage SEC plc will remain in place.
ENDS
For further information, please contact:
KL Communications
Charles Gorman gh@kl-communications.com
Henry Taylor +44 (0) 20 3995 6699
Charlotte Francis
Juniper Partners Limited, Company Secretary +44 (0) 131 378 0500
About SEC plc
Strategic Equity Capital plc is a specialist alternative equity trust.
Actively managed, it maintains a highly-concentrated portfolio of 15-25 high-quality, dynamic, UK smaller companies, each operating in a niche market offering structural growth opportunities.
SEC aims to achieve investment growth over a medium-term period, principally through capital growth. The team looks to find companies with the potential to double shareholder value every five years.
Further information on SEC plc is available at www.strategicequitycapital.com, and further information on Gresham House is available at www.greshamhouse.com