Result of 2020 Annual General Meeting

RNS Number : 5392R

Gresham House Energy Storage Fund

30 June 2020

 

30 June 2020

GRESHAM HOUSE ENERGY STORAGE FUND PLC

(GRID, the "Company")  

Result of 2020 Annual General Meeting

Gresham House Energy Storage Fund PLC (LSE: GRID) announces that at the Company's 2020 Annual General Meeting held today, all resolutions were passed on a show of hands and the results of the proxy votes received are set out below.

Resolutions 1 to 13 (inclusive) were proposed as ordinary resolutions and resolutions 14 to 17 (inclusive) were proposed as special resolutions.

	Resolution	Votes For*	%	Votes Against	%	Total votes validly cast	Total votes cast as % of issued share capital	Vote Withheld **
1	Receive annual accounts for period ended 31 December 2019	162,351,111	100.00	0	0.00	162,351,111	69.30	0
2	Approve directors' remuneration report	162,316,392	100.00	5,000	0.00	162,321,392	69.29	29,719
3	Approve the directors' remuneration policy	162,311,910	100.00	5,000	0.00	162,316,910	69.29	34,201
4	Approve the Company's dividend policy	162,350,170	100.00	941	0.00	162,351,111	69.30	0
5	Re-elect John Leggate as a director	162,336,279	100.00	0	0.00	162,336,279	69.29	14,832
6	Re-elect Duncan Neale as a director	162,336,279	100.00	0	0.00	162,336,279	69.29	14,832
7	Re-elect Cathy Pitt as a director	162,340,761	100.00	0	0.00	162,340,761	69.30	10,350
8	Re-elect David Stevenson as director	162,336,279	100.00	0	0.00	162,336,279	69.29	14,832
9	To re-appoint BDO LLP as the Company's 0auditor	162,344,773	100.00	0	0.00	162,344,773	69.30	6,338
10	To authorise the board of directors to determine the auditors remuneration	162,351,111	100.00	0	0.00	162,351,111	69.30	0
11	Amendment to the Company's investment policy	162,327,899	100.00	0	0.00	162,327,899	69.29	23,212
12	To authorise the Company to allot ordinary shares	162,327,899	100.00	0	0.00	162,327,899	69.29	23,212
13	To authorise the Company to allot ordinary further shares	162,302,889	100.00	0	0.00	162,302,889	69.28	33,562
14	To authorise the disapplication of statutory pre-emption rights in relation the ordinary shares authorised in resolution 12	162,277,466	99.98	25,423	0.02	162,302,889	69.28	33,562
15	To authorise the disapplication of statutory pre-emption rights in relation the ordinary shares authorised in resolution 13	157,850,999	97.26	4,451,890	2.74	162,302,889	69.28	33,562
16	To authorise the Company to make market purchases of its own shares	147,389,777	90.79	14,946,674	9.21	162,336,451	69.29	0
17	To permit general meetings to be called on 14 days' notice	161,284,875	99.35	1,051,576	0.65	162,336,451	69.29	0

* Includes discretionary votes

** A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.

For further information, please contact:

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

Notes:

Every shareholder has one vote for every Ordinary Share held. As at close of business on 26 June 2020, the share capital of the Company consisted of 234,270,650 Ordinary Shares with voting rights. The Company does not hold any shares in Treasury.

In accordance with Listing Rule 9.6.2 copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

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 174MW. 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 £237 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 124MW of Energy Storage Systems and approximately 290MW of predominantly ground-mounted solar projects. Gresham House Asset Management currently manages approximately 195MW of solar and wind energy projects.

Gresham House Asset Management is the Financial Conduct Authority 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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