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