Acquisition | GRESHAM HOUSE PLC | 19th December 2023
On July 17, 2023, GRESHAM HOUSE PLC and Bidco, a newly incorporated entity formed by funds advised by Searchlight Capital Partners, L.P. for the purposes of making an offer for GRESHAM HOUSE PLC, announced that they had reached agreement on the terms and conditions of a recommended final cash offer for the entire issued and to be issued ordinary share capital of GRESHAM HOUSE PLC by Bidco for GBP 11.05 per share. GRESHAM HOUSE PLC shareholder approved the scheme at a meeting on August 30, 2023. On October 6, 2023, the requisite approval was received from the FCA. On November 22, 2023 the requisite approval has been received from the CBI and Bidco confirmed that all of the regulatory Conditions have been satisfied or waived. The Acquisition remains subject to the Court’s sanction of the Scheme at the Court Hearing, which is expected to take place on December 13, 2023. Subject to the satisfaction of those conditions, the Scheme is expected to become effective on December 19, 2023. An application will be made to the London Stock Exchange for the suspension of trading in GRESHAM HOUSE PLC Shares on AIM with effect from December 19, 2023.
The treatment below will be applied to the following indices:
- GRESHAM HOUSE PLC will be removed from the Index.
- The weight of GRESHAM HOUSE PLC (GHE.L) based on its last close price will be distributed pro rata to remaining Index constituents.
- Effective Date (open): 19/12/2023
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