Disposal of Shares

RNS Number : 2021G

Gore Street Energy Storage Fund PLC

23 July 2021

 

23 July 2021

Gore Street Energy Storage Fund plc

(the "Company" or "Gore Street")

Disposal of Shares

As announced by Gore Street on 30 October 2020, Anesco Limited ("Anesco") entered into a lock-up and orderly market deed with the Company, dated 30 October 2020, in respect of the Ordinary Shares issued to Anesco in October 2020 in part consideration for the acquisition by the Company from Anesco of certain assets (the "Lock-in Deed"). Pursuant to the terms of the Lock-in Deed, Anesco agreed that, subject to certain exceptions (including with the prior consent of the Company), it would not dispose of any interest in 4,017,300 of those Ordinary Shares (the "Restricted Shares") for a period of 12 months from the date of acquisition of those shares. Following the sale of Anesco to Aksiom Services Group,  the Company consented to the sale of the Restricted Shares. The effect of the consent to the disposal is to bring forward the end of the lock-in period for the Restricted Shares from 4 November 2021 to 22 July 2021.

The Restricted Shares have been sold to meet continuing demand from investors and as a result Anesco no longer has an interest in the share capital of the Company. 

This announcement is being made in accordance with Listing Rule 9.6.16.

The Legal Entity Identifier of the Company is 213800GPUNVGG81G4O21.

For further information:

Gore Street Capital Limited
Alex O'Cinneide / Paula Travesso	Tel: [phone]
Shore Capital (Joint Corporate Broker)
Anita Ghanekar / Rose Ramsden (Corporate Advisory) Henry Willcocks / Fiona Conroy (Corporate Broking)	Tel: [phone]

J. P. Morgan Cazenove (Joint Corporate Broker)
William Simmonds / Jérémie Birnbaum (Corporate Finance)	Tel: [phone]

Buchanan (Media enquiries)

Charles Ryland / Henry Wilson / George Beale	Tel: [phone]
	Email: [e-mail]

JTC (UK) Limited, Company Secretary Tel: [phone]

Notes to Editors

About Gore Street Energy Storage Fund plc

Gore Street is London's first listed energy storage fund and seeks to provide Shareholders with a significant opportunity to invest in a diversified portfolio of utility scale energy storage projects. In addition to growth through exploiting its considerable pipeline, the Company aims to deliver consistent and robust dividend yield as income distributions to its Shareholders. 

The Company targets an annual dividend of 7.0% of NAV per Ordinary Share in each financial year, subject to a minimum target of 7.0 pence per Ordinary Share. Dividends are paid quarterly.

 

END

 

 

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