Public equity investor Gresham House Strategic (GHS) today announced a maiden dividend and share buyback worth nearly £900,000.
The company, which invests in small listed companies using private equity techniques, reported a £1.7m of unaudited profits from realisations in the year to 31 March.
As part of a “strategic public equity” strategy, GHS aims to reward shareholders with not just dividends but share buybacks in order to bridge the gap between its share price value and its larger net asset value.
As such, it plans to distribute half of the company’s profit from recent realisations, £864,573, to shareholders via a 15p-per-share dividend and share buybacks.
GHS was established in August 2015 to pursue its public equity investment strategy. It was formerly known as Spark Ventures.
It is currently invested in companies such as cloud communications software and services firm IMImobile, asset manager Miton, digital marketing firm Be Heard and Northbridge Industrial Services.
GHS non-executive chairman David Potter said: “Today’s announcement demonstrates the board’s confidence in the long term potential of our strategic public equity strategy.
“Despite the tricky operating environment in the 18 months since we adopted this strategy the company has made steady progress and investments are well positioned to generate NAV growth.”