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

 

+44 (0) 20 3837 6270



Jefferies International Limited

Stuart Klein

Neil Winward

Gaudi le Roux

 

 

+44 (0) 20 7029 8000

KL Communications

Charles Gorman

Camilla Esmund

Alex Hogan

 

 

+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 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.

 


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 or visit www.rns.com.
 
END
 
 
RAGKZGFVLGVGGZG
UK 100

Latest directors dealings