Result of 2024 Annual General Meeting

Gresham House Energy Storage Fund

20 June 2024

 

20 June 2024

GRESHAM HOUSE ENERGY STORAGE FUND PLC

(GRID, the "Company")

Result of 2024 Annual General Meeting

Gresham House Energy Storage Fund PLC (LSE: GRID) announces that at the Company's 2024 Annual General Meeting held today, all resolutions were passed on poll and the results of the poll, including the proxy votes received, are set out below.

Resolutions 1 to 10 (inclusive) were proposed as ordinary resolutions and resolutions 11 to 17 (inclusive) were proposed as special resolutions.

	Resolution	Votes For1	%	Votes Against	%	Total votes validly cast	Total votes cast as % of issued share capital2	Votes Withheld3
1	Receive annual accounts for period ended 31 December 2023.	327,813,994	99.86%	448,382	0.14%	328,262,376	57.68%	93,124
2	Approve directors' remuneration report.	327,826,626	99.87%	426,661	0.13%	328,253,287	57.68%	102,213
3	Approve the Company's dividend policy.	327,870,738	99.88%	381,946	0.12%	328,252,684	57.68%	102,816
4	Re-elect John Leggate as a director.	327,758,847	99.85%	502,311	0.15%	328,261,158	57.68%	94,342
5	Re-elect Isabel Liu as director.	327,804,563	99.86%	454,244	0.14%	328,258,807	57.68%	96,693
6	Re-elect Duncan Neale as a director.	327,757,730	99.85%	501,077	0.15%	328,258,807	57.68%	96,693
7	Re-elect Cathy Pitt as a director.	327,795,269	99.86%	463,538	0.14%	328,258,807	57.68%	96,693
8	Re-elect David Stevenson as director.	327,901,668	99.89%	357,139	0.11%	328,258,807	57.68%	96,693
9	To re-appoint BDO LLP as the Company's auditor.	327,935,830	99.90%	321,492	0.10%	328,257,322	57.68%	98,178
10	To authorise the board of directors to determine the auditors remuneration.	327,982,012	99.92%	272,959	0.08%	328,254,971	57.68%	100,529
11	To authorise the Company to allot ordinary shares.	327,785,210	99.85%	485,840	0.15%	328,271,050	57.69%	84,450
12	To authorise the disapplication of statutory pre-emption in relation the ordinary shares authorised in resolution 11.	327,531,222	99.78%	725,985	0.22%	328,257,207	57.68%	98,293
13	To authorise the Company to make market purchases of its own shares.	327,974,867	99.91%	307,273	0.09%	328,282,140	57.69%	73,360
14	To permit general meetings to be called on 14 days' notice.	327,967,709	99.90%	316,207	0.10%	328,283,916	57.69%	71,584
15	To cancel the credit balance of the Company's share premium reserve account.	327,905,388	99.91%	306,307	0.09%	328,211,695	57.68%	143,805
16	The credit balance of the Company's share premium reserve account be capitalised and applied in paying up new B ordinary shares in the capital of the Company. The B Ordinary Shares are allotted and issued.	327,683,059	99.85%	494,866	0.15%	328,177,925	57.67%	177,575
17	To cancel and extinguish the B Ordinary Shares in relation to resolution 16.	327,662,785	99.85%	505,840	0.15%	328,168,625	57.67%	186,875

¹ Includes discretionary votes cast by the Chair.

² Shares held in treasury count to the total issued share capital but are not voted.

³ A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.

Every shareholder has one vote for every Ordinary Share held. As at close of business on Tuesday, 18 June 2024, the share capital of the Company consisted of 573,444,694 Ordinary Shares of which 569,064,139 shares held with voting rights. The Company held 4,380,555 Ordinary 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.

For further information, please contact:

Gresham House New Energy Ben Guest	[phone]
Jefferies International Limited Stuart Klein Gaudi le Roux Harry Randall	[phone]
KL Communications Charles Gorman Charlotte Francis	[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 18 June 2024, the share capital of the Company consisted of 571,525,509 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 seeks to provide investors with an attractive and sustainable dividend over the long term by investing in a diversified portfolio of utility-scale battery energy storage systems (known as BESS) located in Great Britain and internationally. In addition, the Company seeks to provide investors with the prospect of capital growth through the re-investment of net cash generated in excess of the target dividend in accordance with the Company's investment policy.

The Company targets an unlevered Net Asset Value total return of 8% per annum and a levered Net Asset Value total return of 15% per annum, in each case calculated net of the Company's costs and expenses.

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

http://www.greshamhouse.com/

Definition of utility-scale battery energy storage systems (BESS)

Utility-scale battery energy storage systems (BESS) 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.

LEI number: 213800MSJXKH25C23D82

 

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