Director Declaration

Director Declaration

Gresham House plc

14 October 2014

GRESHAM HOUSE PLC (“Gresham House” or “the Company”)

DIRECTOR DECLARATIONS

On 8 October 2014 Gresham House announced the final terms of a new strategic direction for the Company. In accordance with LR 9.6.13, the information below is notified regarding the Proposed Directors.

Details of all directorships held by the Proposed Directors in any other publicly quoted company at any time in the previous five years, indicating whether or not still a director:

Â	Â	Current	Â	Previous
Anthony Townsend		British & American Investment Trust plc F&C Global Smaller Companies PLC Finsbury Growth & Income Trust PLC Miton Worldwide Growth Investment Trust plc Baronsmead 3 VCT plc		-
Tony Dalwood		-		-
Duncan Abbott		Sofia Property Fund Limited Global Special Opportunities Trust plc		Longbow Growth and Income VCT plc
Mike Phillips		Miton Worldwide Growth Investment Trust plc		Strategic Equity Capital plc
Peter Moon		The Scottish American Investment Trust plc Arden Partners plc First Property Group plc		-

Save as disclosed further below, no further information in relation to any Proposed Director falls to be notified in accordance with LR 9.6.13 (2) to (6).

In November 2012, Reds Technologies Limited, a company of which Michael Phillips was chairman and Duncan Abbot was an executive director, was placed into creditors voluntary liquidation. This followed a considerable reduction in sales activity caused by the UK Government’s (at times legally flawed) changes to the solar power Feed in Tariffs regime which had a significant impact upon consumer confidence in the market in which that company operated. Secured creditors are expected to receive less than 5 pence in the pound and unsecured creditors nothing.

In 2012, an unsatisfied county court judgment of £8,094 was entered against Reds Technologies Limited. In 2010 Reds Technologies Limited acquired Global Energy Direct Limited and Staywarm Limited, Michael Phillips and Duncan Abbot were both executive directors of these companies. In 2013, Staywarm Limited was liquidated with two outstanding charges to creditors. In 2014, Global Energy Direct Limited was liquidated.

In March 2005, Exeter Fund Managers Limited (“EFM”), a company of which Michael Phillips and Duncan Abbot were directors, was put into administration approved by the Financial Conduct Authority (then, the Financial Services Authority (“FSA”)). Mr Phillips and Mr Abbot became directors of EFM at a time when it was already being investigated by the FSA in order to liaise closely with the FSA in order to find a solution to difficulties then being experienced by EFM. The FSA approved administration was part of this solution which was designed to make EFM’s assets available to meet claims and enable investors in EFM products to seek recompense from the Financial Services Compensation Scheme. Mr Phillips’ and Mr Abbot’s involvement ceased when the Company moved into administration.

Anthony Townsend was an executive director of Finville (Holdings) Limited when it was put into creditors’ voluntary liquidation in January 1988. The liquidation was completed on 26 April 1996. According to the liquidators, the deficit to creditors on conclusion of the liquidation was £2,413,745.

Duncan Abbot was director of the following companies in the British & Commonwealth group of companies, which have either been placed into receivership, compulsorily liquidated, placed into creditors’ voluntary liquidation or have entered into arrangements with creditors:

Atlantic Medical Holdings Limited, B&C (Charles Fulton Holdings) Limited, B&C Angus Holdings Inc., B&C Investment Holdings Limited, B&C Properties Limited, B&C Ventures Investments Limited, B&C Estates Limited, British & Commonwealth Securities Limited, Comin Limited, Fairfield (Bermuda) Limited, Kaines (Latin America) Limited, Kaines (UK) Limited, Kaines Corporation Limited, Kaines Forfaiting Limited, Kaines Holdings Limited, Mercantile House (FB) Limited, Mercantile House (FBE) Limited, Mercantile House (FBG) Limited, Mercantile House (WSH) Limited, Mercantile House Holdings Limited, Troika Trading Limited, Tunefair Australia Pty Limited, Rivalchain Limited and Wheatdart Limited.

Duncan Abbot was a director of Trafford Carpets (Bradford) Limited, Trafford Carpets (Manchester) Limited and Trafford Contracts Limited, which were placed in administrative receivership in 1994 with debts of approximately £600,000 owing to trade creditors.

Defined terms in this announcement shall have the same meaning as in the Company’s announcement dated 8 October 2014 relating to the Proposals.

Enquiries:	Â
Gresham House plc
Brian Hallett		01489 570 861
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Westhouse Securities Ltd		020 7601 6100
Robert Finlay
Richard Johnson