Shareholders in the Gresham House investment trust have agreed to a plan to convert the business into a fund group following an extraordinary general meeting (EGM).
Backed by industry figures including SVG founder Tony Dalwood, iimia and Christows founder Michael Phillips, and former Schroders private bank head Rupert Robinson, the trust will abandon its previous liquidation plans in order to pursue the new strategy. The business will now commence a £20m fundraising, delist from the main index and then begin trading on AIM. Its new objective will be to “develop an asset management business, either organically or through one or more acquisitions”. Dalwood and Phillips will each become executive directors as a result of the vote, which saw shar...
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