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Gresham House closes acquisition of FIM Services

Alternative asset manager Gresham House Plc completed May 21 the acquisition of alternative investment fund manager FIM Services Ltd.

Gresham House announced May 2 the acquisition of FIM Services for an initial consideration of £21.0 million on completion and a deferred payment of up to £4.0 million. The initial consideration comprised £11.2 million in cash, covered by a £15.0 million placing of new ordinary shares in Gresham House, and £9.8 million in loan notes convertible into ordinary shares in the company.

Gresham House has applied for the admission of the consideration shares and placing shares to trading on the London Stock Exchange's AIM sub-market. Admission of the shares was due to take place 8 a.m. London time May 22, following which the company's issued share capital will stand at 18,776,670 ordinary shares.