TIDMGRID
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 Total votes Vote Withheld
validly cast cast as % of **
issued share
capital
Receive annual
accounts for
period ended
31 December
1 2019 162,351,111 100.00 0 0.00 162,351,111 69.30 0
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
Approve
directors'
remuneration
2 report 162,316,392 100.00 5,000 0.00 162,321,392 69.29 29,719
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
3 Approve the 162,311,910 100.00 5,000 0.00 162,316,910 69.29 34,201
directors'
remuneration
policy
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
Approve the
Company's
dividend
4 policy 162,350,170 100.00 941 0.00 162,351,111 69.30 0
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
Re-elect John
Leggate as a
5 director 162,336,279 100.00 0 0.00 162,336,279 69.29 14,832
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
Re-elect
Duncan Neale
6 as a director 162,336,279 100.00 0 0.00 162,336,279 69.29 14,832
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
Re-elect Cathy
Pitt as a
7 director 162,340,761 100.00 0 0.00 162,340,761 69.30 10,350
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
Re-elect David
Stevenson as
8 director 162,336,279 100.00 0 0.00 162,336,279 69.29 14,832
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
9 To re-appoint 162,344,773 100.00 0 0.00 162,344,773 69.30 6,338
BDO LLP as the
Company's
0auditor
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
10 To authorise 162,351,111 100.00 0 0.00 162,351,111 69.30 0
the board of
directors to
determine the
auditors
remuneration
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
11 Amendment to 162,327,899 100.00 0 0.00 162,327,899 69.29 23,212
the Company's
investment
policy
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
12 To authorise 162,327,899 100.00 0 0.00 162,327,899 69.29 23,212
the Company to
allot ordinary
shares
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
13 To authorise 162,302,889 100.00 0 0.00 162,302,889 69.28 33,562
the Company to
allot ordinary
further shares
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
14 To authorise 162,277,466 99.98 25,423 0.02 162,302,889 69.28 33,562
the
disapplication
of statutory
pre-emption
rights in
relation the
ordinary
shares
authorised in
resolution 12
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
15 To authorise 157,850,999 97.26 4,451,890 2.74 162,302,889 69.28 33,562
the
disapplication
of statutory
pre-emption
rights in
relation the
ordinary
shares
authorised in
resolution 13
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
16 To authorise 147,389,777 90.79 14,946,674 9.21 162,336,451 69.29 0
the Company to
make market
purchases of
its own shares
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
17 To permit 161,284,875 99.35 1,051,576 0.65 162,336,451 69.29 0
general
meetings to be
called on 14
days' notice
--------------- ------------ ------- -------------- ----- --------------- --------------- ----------------
* 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 +44 (0) 20 3837
Ben Guest 6270
Jefferies International Limited
Stuart Klein
Neil Winward +44 (0) 20 7029
Gaudi le Roux 8000
KL Communications
Charles Gorman
Camilla Esmund +44 (0) 20 3995
Alex Hogan 6673
JTC (UK) Limited as Company Secretary +44 (0) 207 409
Christopher Gibbons 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 GBP100 million of gross proceeds
from investors. Including issuance under the Placing Programme, it
has now raised a total of approximately GBP237 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
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