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
|
+44 (0) 20 3837 6270
|
|
|
|
|
Jefferies International Limited
Stuart Klein
Gaudi le Roux
Harry Randall
|
+44 (0) 20 7029 8000
|
|
KL
Communications
Charles Gorman
Charlotte Francis
|
+44 (0) 20 3995 6673
|
|
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.
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