Result of AGM

Gore Street Energy Storage Fund PLC

16 September 2026

 

16 September 2026

Gore Street Energy Storage Fund plc

(the "Company")

Results of Annual General Meeting

Gore Street Energy Storage Fund plc announces the results of its Annual General Meeting, held today.

All of the resolutions (1 to 15) proposed by the Company were duly passed. Neither of the resolutions (16 and 17) requisitioned by Saba Capital Management, L.P. ("Saba") was passed.

The Board would like to thank all Shareholders for their engagement and participation in the vote.

All resolutions were voted on by way of a poll and details of the votes cast on each resolution are in the table below. The vote was supervised by Civica Election Services, appointed by the Board as an independent assessor to report on the poll held at the AGM.

	Resolution	Votes For (including discretionary)	%	Votes Against (including discretionary)	%	Votes Withheld	% of Issued Share Capital voted
1	To receive the annual financial statements with the Directors' and auditor's reports on the statements	329,588,449	99.51	1,630,805	0.49	7,221,093	65.58%
2	To approve the dividend frequency policy	316,555,581	95.47	15,021,531	4.53	6,863,235	65.65%
3	To approve the Directors' remuneration report	312,852,353	96.31	11,977,440	3.69	13,610,554	64.31%
4	To approve the remuneration policy	300,530,623	96.70	10,262,185	3.30	27,647,539	61.53%
5	To elect Angus Gordon Lennox	183,886,136	55.27	148,845,624	44.73	5,708,587	65.87%
6	To elect Norman Crighton	303,047,670	93.32	21,678,341	6.68	13,714,336	64.29%
7	To elect Christine Higgins	301,673,269	90.63	31,188,237	9.37	5,578,841	65.90%
8	To elect Simon Merriweather	308,542,855	92.69	24,340,674	7.31	5,556,818	65.90%
9	To elect Keith Pickard	301,468,520	91.71	27,242,740	8.29	9,729,087	65.08%
10	To appoint Ernst & Young LLP as auditor	319,029,841	97.67	7,609,255	2.33	11,801,251	64.67%
11	To authorise the Directors to determine the Auditor's remuneration	319,325,769	97.76	7,330,629	2.24	11,783,949	64.67%
12	To authorise the Directors to allot shares	307,593,289	93.27	22,194,388	6.73	8,652,670	65.29%
13*	Subject to the passing of resolution 12, to authorise the Directors to allot equity securities on a non-pre-emptive basis	285,740,184	86.72	43,744,779	13.28	8,955,384	65.23%
14*	To renew the authority of the Company to make market purchases of own ordinary shares	328,338,654	99.10	2,985,183	0.90	7,116,510	65.60%
15*	To approve a 14-day notice period for general meetings	316,052,418	95.42	15,171,105	4.58	7,216,824	65.58%
16	THAT the Company shall not continue in existence as an investment company	149,302,202	44.03	189,795,804	55.97	2,010,528	67.13%
17*	THAT, if Resolution 16 is passed, then within 3 months the directors of the Company shall put forward proposals to the members of the Company to the effect that the Company be wound up, liquidated, reorganised or unitised.	150,005,481	44.25	189,023,852	55.75	2,079,201	67.12%

*Resolutions 13-15 and 17 were proposed as special resolutions.

While Resolution 5 passed, a significant number of votes were cast against. Similarly, although requisitioned resolutions 16 and 17 failed, they received a significant number of votes in favour.

The Board is therefore cognisant of the range of views expressed, particularly from the Company's largest Shareholder, and will seek to engage to establish a productive way forward for the Company and all Shareholders so that ongoing disruption can be avoided in the interest of best delivering enhanced value. The Board will therefore engage with Shareholders to discuss any views they may have in line with Provision 4 of the AIC Corporate Governance Code 2024 and will report on the actions it has taken to further engage with Shareholders. 

On a poll, Shareholders are entitled to one vote per share. Votes withheld are not a vote in law and are therefore not counted in the calculation of the percentages of the votes cast for and against a resolution. Where Shareholders appointed the Chairman as their proxy with discretion as to voting, their votes were cast: in favour of the resolutions proposed by the Company (1 to 15), and their votes have been included in the "votes for" column; and against the resolutions requisitioned on behalf of Saba (16 and 17), and their votes have been included in the "votes against" column. The total number of ordinary shares of 1p each in issue is 505,099,478. The total number of voting rights is: 505,099,478.  

In accordance with UKLR 6.4.2, a copy of the resolutions passed, other than resolutions concerning ordinary business, at today's AGM will be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

- Ends -

For further information:  

Company Secretary

Benjamin Hanley                                                                                                                                                   Tel: [phone]

Amy King                                                                                                                                                                Tel: [phone]

Shore Capital (Joint Corporate Broker) 

Anita Ghanekar / Sophie Collins (Corporate Advisory)                                                                                Tel: [phone]

Fiona Conroy (Corporate Broking)

J.P. Morgan Cazenove (Joint Corporate Broker)               

William Simmonds / Rupert Budge                                                                                                             Tel: [phone]

Burson Buchanan (Media Enquiries)      

Henry Wilson / Henry Harrison-Topham / Nick Croysdill                                                                          Tel: [phone]

Email: [e-mail]    

https://www.gsenergystoragefund.com

 

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