Gresham House Asset Management Limited has disclosed a reduction in its voting rights stake in Next 15 Group plc (NFG), falling from 5.15% to 4.53%, according to a TR-1 major holdings notification filed with the company and the Financial Conduct Authority. The threshold was crossed on 10 November 2026, with the issuer notified the following day. The disposal moves Gresham House's holding below a previously notified level, representing a change of approximately 0.62 percentage points in its registered position in the AIM-quoted marketing and technology services group.

Key Points

  • Next 15 Group plc (NFG) — AIM-listed marketing and technology services company
  • Gresham House Asset Management Limited has reduced its voting rights stake from 5.15% to 4.53% via an acquisition or disposal of voting rights
  • The resulting holding equates to 4,636,372 voting rights attached to shares with ISIN GB0030026057, as of 10 November 2026
  • Investors may be watching whether further threshold crossings are disclosed by Gresham House or other significant shareholders

Gresham House Discloses 4,636,372 Voting Rights in Next 15 Group Following Disposal

The TR-1 notification confirms that Gresham House Asset Management Limited, registered in London, UK, now holds 4,636,372 voting rights in Next 15 Group plc, all of which are indirect holdings under DTR5.2.1. These are attached to ordinary shares carrying ISIN code GB0030026057. The filing confirms no financial instruments such as options or contracts for difference form part of the notified position, meaning the entire 4.53% stake is composed solely of voting rights attached to shares. The notification indicates Gresham House is not controlled by any natural person or legal entity and does not control any other undertaking holding an interest in Next 15 Group.

Previous 5.15% Position Reduced After 10 November 2026 Threshold Crossing

According to the disclosure, Gresham House Asset Management's previous notification recorded a position of 5.15% of voting rights in Next 15 Group plc. The threshold crossing date is recorded as 10 November 2026, with the issuer formally notified on 11 November 2026, in line with the regulatory obligation to report within two trading days under the FCA's Disclosure Guidance and Transparency Rules. The reason cited for the notification is an acquisition or disposal of voting rights, suggesting the reduction arose from a sale or transfer of shares rather than a corporate event affecting the overall voting rights structure of the company.

Next 15 Group's Shareholder Register Reflects Shifting Institutional Positions

Next 15 Group plc operates as a marketing and technology services group, serving clients across multiple sectors. The movement in Gresham House's registered holding reflects the kind of institutional portfolio adjustment that investors in mid-cap and small-cap stocks monitor closely, as changes among significant shareholders can influence market sentiment and liquidity perceptions. The company did not disclose any operational update, financial guidance, or commentary alongside this regulatory filing. Investors may be watching the shareholder register for any further threshold notifications from existing or new institutional holders of Next 15 Group shares.