REG - Gresham House Energy - Result of 2024 Annual General Meeting

Gresham House Energy Storage FundAnnouncement

20/06/2024 16:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240620:nRST2786Ta&default-theme=true

RNS Number : 2786T  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 For(1)  %       Votes Against  %      Total votes validly cast  Total votes cast as % of issued share capital(2)  Votes Withheld(3)
 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       327,531,222   99.78%  725,985        0.22%  328,257,207               57.68%                                            98,293
     ordinary shares authorised in resolution 11.
 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           327,683,059   99.85%  494,866        0.15%  328,177,925               57.67%                                            177,575
     capitalised and applied in paying up new B ordinary shares in the capital of
     the Company. The B Ordinary Shares are allotted and issued.

 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
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

For further information, please contact:

 

 Gresham House New Energy

 Ben Guest                               +44 (0) 20 3837 6270

 Jefferies International Limited

 Stuart Klein                            +44 (0) 20 7029 8000

 Gaudi le Roux

 Harry Randall

 KL Communications

 Charles Gorman                          +44 (0) 20 3995 6673

 Charlotte Francis

 JTC (UK) Limited as Company Secretary

 Christopher Gibbons                     +44 (0) 207 409 0181

 

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
(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/ (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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGMZGZVKGGGDZM