- Gresham House's boards says it is pleased shareholders of SPARK Ventures have approved the change in SPARK's investing policy to pursue a new strategic public equity investment strategy in partnership with Gresham House, as set out in the Gresham House announcement on 21 July and notice of general meeting circulated to SPARK shareholders on 22 July.

Gresham House will invest a total of £6.4m in SPARK following which Gresham House will have an interest in 706,806 of SPARK's issued ordinary shares representing approximately 18.39% of SPARK's shares and approximately 19.17% of SPARK's total voting rights following completion of the placing, open offer and asset swaps.

Chief executive Anthony Dalwood said: "We are pleased that the proposed change to the investing policy has been approved by the SPARK shareholders. This mandate represents an important step for Gresham House as we deliver on our plans to develop as a specialist asset manager of differentiated and illiquid alternative investment strategies.

"SPARK is the first fund that our SPE investment team will manage and we will target superior returns by focusing on inefficient areas of the market, taking block stakes in smaller companies and constructively engaging to identify and support significant value creation catalysts."

At 2:09pm: [LON:GHE] Gresham House Plc share price was 0p at 287.5p

Story provided by