Strategic Equity Capital plc
20 February 2017
Company update
The Board of Strategic Equity Capital plc (the 'Company') understands that
Harwood Capital Management ('Harwood') and its representatives, of their own
volition, are speaking to the Company's shareholders with a view to promoting a
scheme that would result in Harwood, or an affiliate thereof, managing some or
all of the Company's assets.
The Board has been informed that Stuart Widdowson, the Company's former lead
portfolio manager at GVQ Investment Management Limited ('GVQIM'), will be
associated with Harwood in due course in establishing a new venture.
The Board has been advised by its manager, GVQIM, that Stuart Widdowson will
not be in a position to put himself forward to manage some or all of the
Company's assets for a period of up to 18 months pursuant to the terms of his
employment contract with GVQIM.
As stated in the Company's recently published Interim Report, the Board
continues to place strong corporate governance very highly on the agenda and
monitors the performance of all the Company's service providers, including
GVQIM, closely and regularly and will continue to act in the best interests of
all shareholders.
Enquiries:
Richard Hills (Chairman) 0131 538 1400
PATAC Limited (Secretary) 0131 538 1400
Canaccord Genuity Limited 020 7523 8000
Andrew Zychowski
Lucy Lewis
Buchanan 020 7466 5000
Richard Darby
Charles Ryland
Strategic Equity Capital plc published this content on 20 February 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 February 2017 15:32:03 UTC.
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Strategic Equity Capital plc is a United Kingdom-based specialist alternative equity trust with a concentrated portfolio of smaller companies. The Company's investment objective is to achieve growth in the value of investments over a medium-term period, principally through capital growth. It maintains a concentrated portfolio of about 15-25 United Kingdom (UK) smaller companies, each operating in a niche market offering structural growth opportunities. The Company invests primarily in equities quoted on markets operated by the London Stock Exchange. The Company may also invest up to 20% of its gross assets at the time of investment in securities quoted on other recognized exchanges. It invests in various sectors, including business services, healthcare, software, financials, industrial, media, consumer, and net cash. The Company's investment manager is Gresham House Asset Management Limited.