21 June 2021
GRESHAM HOUSE ENERGY STORAGE FUND PLC
(GRID, the "Company")
Result of 2021 Annual General Meeting
Gresham House Energy Storage Fund PLC (LSE: GRID) announces that at the Company's 2021 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 11 (inclusive) were proposed as ordinary resolutions and resolutions 12 to 16 (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 2020 | 184,641,205 | 100.00 | 250 | 0.00 | 184,641,455 | 52.97 | 0 |
| 2 | Approve directors' remuneration report | 164,846,784 | 89.29 | 19,763,202 | 10.71 | 184,609,986 | 52.96 | 31,469 |
| 3 | Approve the Company's dividend policy | 184,636,685 | 100.00 | 4,770 | 0.00 | 184,641,455 | 52.97 | 0 |
| 4 | Re-elect John Leggate as a director | 184,632,203 | 100.00 | 250 | 0.00 | 184,632,453 | 52.97 | 9,002 |
| 5 | Re-elect Duncan Neale as a director | 184,632,203 | 100.00 | 250 | 0.00 | 184,632,453 | 52.97 | 9,002 |
| 6 | Re-elect Cathy Pitt as a director | 184,636,685 | 100.00 | 250 | 0.00 | 184,636,935 | 52.97 | 4,520 |
| 7 | Re-elect David Stevenson as director | 184,632,203 | 100.00 | 4,770 | 0.00 | 184,636,973 | 52.97 | 4,482 |
| 8 | To re-appoint BDO LLP as the Company's auditor | 184,630,824 | 100.00 | 1,250 | 0.00 | 184,632,074 | 52.97 | 9,381 |
| 9 | To authorise the board of directors to determine the auditors remuneration | 183,209,590 | 99.23 | 1,425,784 | 0.77 | 184,635,374 | 52.97 | 6,081 |
| 10 | To authorise the Company to allot ordinary shares | 184,635,494 | 100.00 | 5,093 | 0.00 | 184,640,587 | 52.97 | 868 |
| 11 | To authorise the Company to allot ordinary further shares | 184,622,494 | 100.00 | 5,093 | 0.00 | 184,627,587 | 52.97 | 13,868 |
| 12 | To authorise the disapplication of statutory pre-emption rights in relation the ordinary shares authorised in resolution 10 | 184,594,712 | 99.99 | 24,875 | 0.01 | 184,619,587 | 52.97 | 21,868 |
| 13 | To authorise the disapplication of statutory pre-emption rights in relation the ordinary shares authorised in resolution 11 | 166,277,355 | 90.06 | 18,355,232 | 9.94 | 184,632,587 | 52.97 | 8,868 |
| 14 | To authorise the Company to make market purchases of its own shares | 184,622,263 | 100.00 | 3,616 | 0.00 | 184,625,879 | 52.97 | 15,576 |
| 15 | To permit general meetings to be called on 14 days' notice | 183,192,826 | 99.22 | 1,448,629 | 0.78 | 184,641,455 | 52.97 | 0 |
| 16 | To amend the Company's Articles of Association | 184,604,492 | 100.00 | 4,093 | 0.00 | 184,608,585 | 52.96 | 32,870 |
* 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 17 June 2021, the share capital of the Company consisted of 348,556,364 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 current portfolio has a total capacity of 425MW. 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 (the "IPO") having raised £100 million of gross proceeds from investors. Following IPO, the Company has raised a further total of approximately £258 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 264MW of Energy Storage Systems and approximately 290MW of predominantly ground-mounted solar projects. Gresham House Asset Management currently manages 232MW of solar and wind energy projects.
Gresham House Asset Management 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.
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.
LEI number: 213800MSJXKH25C23D82
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