Dividend Declaration

RNS Number : 6534P

Gresham House Energy Storage Fund

19 February 2021

 

19 February 2021

GRESHAM HOUSE ENERGY STORAGE FUND PLC

("GRID" or the "Company")

Declaration of Dividend

Gresham House Energy Storage Fund PLC (LSE: GRID) is pleased to announce a dividend of 1.75p per Ordinary Share for the period from 1 October to 31 December 2020. The dividend will be paid on 26 March 2021 to Shareholders on the register as at the close of business on 5 March 2021. The ex-dividend date is 4 March 2021.

Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income" which may be designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts. Of this dividend declared of 1.75 pence per Ordinary Share, 0.23 pence is declared as dividend income with 1.52 pence treated as qualifying interest income.

This dividend completes the 7.0p per share dividend target for 2020 and the Board is pleased to confirm its commitment to delivering a 7.0p per share dividend for 2021.

For further information, please contact:

Gresham House New Energy Ben Guest	[phone]
Jefferies International Limited Stuart Klein Gaudi Le Roux Neil Winward	[phone] [phone] [phone]
KL Communications Charles Gorman Camilla Esmund Alex Hogan	[e-mail] [phone]
JTC (UK) Limited as Company Secretary Christopher Gibbons	[e-mail]  [phone]

About the Company and the Manager:

Gresham House Energy Storage Fund plc owns a portfolio of utility-scale operational energy storage systems (known as ESS) located in Great Britain. The portfolio has a total capacity of 395MW. The Company is managed by Gresham House Asset Management Limited under the leadership of Ben Guest. The Company was admitted to trading on the London Stock Exchange (Specialist Fund Segment) on 13 November 2018 having raised £100 million of gross proceeds from investors. Including issuance under the Placing Programme, it has now raised a total of approximately £358 million of gross proceeds from investors.

The Gresham House New Energy team has a proven track record in developing and operating energy storage and other renewable assets having developed 234MW of Energy Storage Systems and approximately 290MW of predominantly ground-mounted solar projects. Gresham House Asset Management currently manages approximately 232MW of solar and wind energy projects.

Gresham House Asset Management is the FCA authorised operating business of Gresham House plc, a London Stock Exchange quoted specialist alternative asset manager. Gresham House is committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.

www.greshamhouse.com

Definition of Utility-scale battery Storage Systems

Utility-scale battery storage systems are the enabling infrastructure that will support the continued growth of renewable energy sources such as wind and solar, essential to the UK's stated target to reduce carbon emissions. They store excess energy generated by renewable energy sources and then release that stored energy back into the grid during peak hours when there is increased demand for it.

 

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