Gresham House Strategic plc (GHS.LN) For professional investors only July 2020
DISCLAIMER This presentation (the Presentation) is issued by Gresham House Asset Management The internal rates of return or IRRs presented on a gross basis do not reflect any Ltd (GHAM), Investment Manager for Gresham House Strategic plc (GHS) and Adviser management fees, carried interest, taxes and allocable expenses of the kind that will to Strategic Public Equity LP (SPE) for information purposes only. This Presentation, be borne by investors in a fund, which in the aggregate may be substantial. its contents and any information provided or discussed in connection with it are strictly Prospective investors are reminded that the actual performance realised will depend private and confidential and may not be reproduced, redistributed or passed on, on numerous factors and circumstances some of which will be personal to the directly or indirectly, to any other person or published, in whole or in part, for any investor. 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Prospective investors should seek their own independent financial, tax, This Presentation relates to an Alternative Investment Fund within the meaning of legal and other advice before making a decision to invest. the Alternative Investment Fund Managers Directive and the availability of this Presentation will be subject to registration in relevant jurisdictions as described in the documents relating thereto. Any dissemination or unauthorised use of this Presentation outside the United Kingdom by any person or entity is strictly prohibited. Capital at risk. The value of investments may fall as well as rise and investors may not get back the original amount invested. 2 Investments in smaller companies may carry a higher degree of risk than investments in larger, more established companies.
WHY GRESHAM HOUSE STRATEGIC PLC? “It is my conclusion that the successful investor must have patience to wait for the right moment - courage to buy or sell when the time arrives - and liquid capital.” - Benjamin Roth ▪ Specialist equity fund targeting 2xMM (15% IRR) over the medium term ▪ Differentiated strategy with concentrated and engaged approach ▪ Proven team with a long, strong track record 1 ▪ Small-cap specialists with significant public and private expertise and resource ▪ Structurally overlooked part of market ▪ Truly aligned Manager and Team with investment capacity to grow 1. See Strategic Public Equity - Track Record slide Past performance is not necessarily a guide to future performance. Portfolio investments in smaller companies typically involve a higher degree of risk. 3
OUR TEAM Tony Dalwood Richard Staveley Fund Manager Fund Manager ▪ Started Gresham House Asset ▪ Over 23 years’ experience in Management in 2015 public equity and finance ▪ CEO of Gresham House plc ▪ Previously at Majedie Asset Management, River & Mercantile ▪ 25 years’ experience in public and Asset Management (Founder) and private equity Société Générale Asset ▪ Previously CEO of SVG Advisers and Management SVGIM Laurence Hulse Paul Dudley Investment Manager Corporate Finance ▪ Over 24 years’ corporate finance ▪ Over 6 years’ investment experience experience ▪ Previously at HD Capital Partners ▪ Previously at Rothschild as an (Founder), WH Ireland, Sigma intern in the M&A team Capital plc and PwC ▪ Joined Gresham House in 2015 ▪ Joined Gresham House in 2020 Wider Strategic Equity team 121 years’ combined experience Steve Cordiner Jeff Harris Adam Khanbhai Thomas Makey Bevan Duncan Maya Ward Ken Wotton James Hendry Mackenzie Travers Brendan Gulston Henry Alty David Leahy 4
INVESTMENT COMMITTEE Tony Dalwood Graham Bird Investment Committee Chairman ▪ Over 25 years’ experience in public ▪ Started Gresham House Asset Management and private equity fund in 2015 management and advisory ▪ ▪ CEO of Gresham House plc CFO at Escape Hunt ▪ 25 years’ experience in public and private ▪ Previously at Gresham House and equity SVGIM ▪ Previously CEO of SVG Advisers and SVGIM Ken Wotton Tom Teichman ▪ Over 22 years’ experience in AIM and ▪ 30 years’ experience in VC and banking other listed investments ▪ Co-founder of The Garage ▪ Fund Manager for Gresham House UK ▪ Previously CEO of Gresham House Micro and Multi Cap funds Strategic plc (formerly Spark Ventures) ▪ Previously at Livingbridge Bruce Carnegie-Brown ▪ Over 30 years’ experience in private equity ▪ Chairman of Lloyd’s of London ▪ Previously at Banco Santander, Aon UK Ltd, and Catlin Group Ltd 5
WHAT IS STRATEGIC PUBLIC EQUITY? An alternative investment strategy that applies private equity investment processes to public companies. Highly engaged strategy driving strategic, operational or Influential minority stakes management initiatives Focus on intrinsically undervalued, Targeting inefficient areas of cash generative companies. public markets A “value approach” Concentrated & flexible mandate: Thorough due diligence to identify up to 30% can be value creation catalysts invested in unquoted 6
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