Result of General Meeting

Gresham House Energy Storage Fund

29 June 2023

 

29 June 2023

GRESHAM HOUSE ENERGY STORAGE FUND PLC

(GRID, the "Company")

Result of General Meeting

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

The Resolution was proposed as an ordinary resolution.

	Resolution	Votes For*	%	Votes Against	%	Total votes validly cast	Total votes cast as % of issued share capital	Vote Withheld **
1	Approve the Company's remuneration policy	323,542,622	99.46	1,765,319	0.54	325,307,941	56.76	70,837

* 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	[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 27 June 2023, the share capital of the Company consisted of 573,444,694 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). 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 (i) an unlevered Net Asset Value total return of 8 per cent. per annum; and (ii) a levered Net Asset Value total return of 15 per cent. per annum.

Gresham House Asset Management Limited (the "Manager") is the FCA 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 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. BESS also provide Frequency Response services whereby batteries import and export power with the aim to keep real-time supply and demand in near-perfect balance while also protecting against unexpected outages of major power plants.

LEI number: 213800MSJXKH25C23D82

 

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