REG - Gresham Technologies - Board Appointment

Gresham TechnologiesAnnouncement

11/01/2024 07:15

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RNS Number : 3161Z  Gresham Technologies PLC  11 January 2024

RNS

11 January 2024

Gresham Technologies plc

Board Appointment

Gresham Technologies plc (LSE: "GHT", "Gresham", "Group", "Company"), the
leading software and services company that specialises in providing solutions
for data integrity and control, banking integration, payments and cash
management, is pleased to announce that it has appointed Oliver Scott as
non-executive Director, effective immediately.

Oliver is a managing partner of Kestrel Partners LLP ("Kestrel"), which he
co-founded in 2009. Prior to this, Oliver spent 20 years advising smaller
quoted and unquoted companies, latterly as a director of KBC Peel Hunt
Corporate Finance. He is currently a non-executive director at K3 Business
Technology PLC and Redcentric Plc; holding directorships over the past five
years at Smoove PLC, Idox PLC, IQGeo Group PLC, and KBC Advanced Technology
PLC.

Kestrel invests in UK listed companies with a particular focus on the
enterprise software and services sector, and is Gresham's largest shareholder,
with a holding of 20,004,573 ordinary shares in the Company as at 10 January
2024; representing 23.9% of the Company's issued share capital. In addition to
his interest in the Company via Kestrel, Oliver has a personal beneficial
interest in 5,555 ordinary shares in the Company.

 

Relationship Agreement

In conjunction with Oliver's appointment, the Company has entered into a
relationship agreement with Kestrel. The key terms of this agreement are as
follows:

 ·             All transactions, agreements or arrangements entered into between a member of
               the Group and Kestrel and/or any of its associates will be conducted on an
               arm's length basis and on normal commercial terms;
 ·             Kestrel shall exercise its voting rights to ensure, so far as it is able to do
               so by the exercise of such rights, that directors independent of Kestrel shall
               at all times constitute a majority of the Gresham board ("Board");
 ·             Kestrel and its associates will not propose any resolution or other action to
               cancel the trading of the Company's shares from trading on the Main Market of
               the London Stock Exchange without the Board's approval; and
 ·             Kestrel and its associates will not solicit proxies unless consistent with the
               recommendation of the Board, exercise powers to requisition a shareholders'
               meeting, or undertake any action to obtain or consolidate control of the
               Company or seek to do so, otherwise than in accordance with the Takeover Code.

 

Richard Last, Chair, commented:

"Kestrel has been one of the Company's largest investors for many years and we
welcome Oliver onto the Board as their representative. Oliver brings
significant public markets and technology investment knowledge, and we look
forward to working with him."

 

Other than as set out in this announcement there are no further disclosures
required in respect of Oliver Scott under paragraph 9.6.13 of the Listing
Rules.

 

Enquiries

 Gresham Technologies plc                               +44 (0) 207 653 0200
 Ian Manocha / Tom Mullan

 Singer Capital Markets (Financial Adviser and Broker)  +44 (0) 207 496 3000
 Shaun Dobson / Tom Salvesen / Jen Boorer

 Alma Strategic Communications                          +44 (0) 203 405 0205
 Josh Royston / Hilary Buchanan / Matthew Young

 

Note to editors

Gresham Technologies plc is a leading software and services company that
specialises in providing real-time solutions for data integrity and control,
banking integration, payments and cash management. Listed on the main market
of the London Stock Exchange (GHT.L) and headquartered in the City of London,
its customers include some of the world's largest financial institutions and
corporates, all of whom are served locally from offices located in the UK,
Europe, North America and Asia Pacific.

Gresham's award-winning Clareti software platform is a highly flexible and
scalable platform, available on-site or in the cloud, designed to address
today's most challenging financial control, risk management, data governance
and regulatory compliance problems. Learn more at www.greshamtech.com.

 

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