REG - Foresight Solar Fund - Result of 2026 Annual General Meeting

Foresight Solar FundAnnouncement

03/06/2026 13:45

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RNS Number : 8832G  Foresight Solar Fund Limited  03 June 2026

3 June 2026

Foresight Solar Fund Limited

("Foresight Solar", "FSFL" or the "Company")

 

Results of 2026 Annual General Meeting

 

Foresight Solar, the fund investing in solar and battery storage assets to
build income and growth, announces that all resolutions were voted on by way
of a poll at its 2026 Annual General Meeting (AGM), held on 3 June 2026. The
results, including all proxy votes received, are set out below.

 

 No.  Resolution(1)                                                                   Votes For(2)          Votes Against(2)        Total votes validly cast(3)  Total votes cast as % of issued share capital  Votes Withheld(4)
      Votes                                                                                        %        Votes        %
 1    To receive and adopt the Company's annual accounts for the financial year       350,585,686  99.84%   554,679      0.16%      351,140,365                  57.57%                                         830,568
      ended 31 December 2025
 2    Approve directors' remuneration report for the period ended 31 December 2025    349,365,273  99.58%   1,460,145    0.42%      350,825,418                  57.52%                                         1,145,515
 3    Approve the directors' remuneration policy                                      348,711,190  99.45%   1,921,481    0.55%      350,632,671                  57.48%                                         1,338,262
 4    Approve the Dividend Policy                                                     350,674,300  99.85%   519,225      0.15%      351,193,525                  57.58%                                         777,408
 5    Re-appoint Anthony Roper as a Director                                          346,015,237  98.68%   4,640,296    1.32%      350,655,533                  57.49%                                         1,315,400
 6    Re-appoint Ann Markey as a Director                                             345,907,983  98.67%   4,666,600    1.33%      350,574,583                  57.48%                                         1,396,350
 7    Re-appoint Lynn Cleary as a Director                                            345,589,827  98.62%   4,831,536    1.38%      350,421,363                  57.45%                                         1,549,570
 8    Re-appoint Paul Masterton as a Director                                         345,991,495  98.68%   4,632,934    1.32%      350,624,429                  57.48%                                         1,346,504
 9    Re-appoint KPMG LLP as the Company's auditors                                   341,583,216  97.34%   9,321,484    2.66%      350,904,700                  57.53%                                         1,066,233
 10   Authorise the directors to determine the auditors' remuneration                 348,268,850  99.21%   2,761,828    0.79%      351,030,678                  57.55%                                         940,255
 11   Authorise the directors to allot shares in the Company                          346,723,847  98.82%   4,150,962    1.18%      350,874,809                  57.52%                                         1,096,124
 12   Authorise the Company to make market purchases of its own Ordinary Shares       350,186,743  99.75%   891,576      0.25%      351,078,319                  57.56%                                         892,614
 13   Subject to the passing of resolution 12, to authorise the Company to cancel or  350,387,438  99.80%   702,932      0.20%      351,090,370                  57.56%                                         880,563
      to hold any such Ordinary Shares it repurchases
 14   To discontinue the Company in its present form                                  40,573,932   11.54%   311,064,592  88.46%     351,638,524                  57.65%                                         388,892

( )

(1)Resolutions 1 to 10 were proposed as ordinary resolutions and resolutions
11 to 14 were proposed as special resolutions

(2)Includes discretionary votes on resolutions 1 to 14

(3)Shares held in treasury count to the total issued share capital but are not
voted

(4)A vote withheld is not a vote in law and is not counted in the calculation
of the votes for or against a resolution

 

The board welcomes shareholders' support for the continuation of Foresight
Solar and appreciates the engagement and feedback received throughout the
process. The directors acknowledge that 40,573,932 votes, representing 7.43%
of the issued ordinary share capital and 11.54% of the valid votes at the AGM,
were cast in favour of resolution 14 and for the discontinuation of the
Company in its current form.

 

The board and its advisors have maintained extensive engagement with
shareholders to better understand their priorities and concerns, particularly
in relation to the persistent share price discount affecting FSFL and the
wider renewable infrastructure investment trust sector. The directors remain
focused on delivering long-term value for shareholders and continue to
evaluate measures aimed at improving returns and narrowing the discount to net
asset value (NAV).

 

Tony Roper, chair of Foresight Solar, said: "The board and its advisors have
engaged extensively with shareholders to understand their views and priorities
as we work to address the challenges facing the sector.

 

While asset sales have taken longer than anticipated, we remain committed to
our phased divestment programme and refocusing the portfolio on our core UK
market. Meanwhile, we continue to execute our regular share buyback programme
and are securing opportunities that enhance asset performance and further
improve revenue visibility.

 

We recognise the last couple of years have been challenging but want to
reassure shareholders we are considering all options to deliver value. We
appreciate that a significant majority of them have given us time to progress
our strategic initiatives and to continue the work to reduce the discount over
time."

 

Notes

Every shareholder has one vote for every ordinary share held. As at close of
business on Monday, 1 June 2026, the share capital of the Company consisted of
609,958,720 ordinary shares with voting rights, of which 64,217,710 were held
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
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

For more information, follow Foresight Solar on LinkedIn
(https://www.linkedin.com/showcase/foresight-solar/) or contact:

 

 Foresight Group                  +44 (0)20 3911 2318

 Matheus Fierro

 (fsflir@foresightgroup.eu)

 Jefferies International Limited  +44 (0)20 7029 8000

 Gaudi Le Roux

 Harry Randall-Knowles

 Singer Capital Markets           +44 (0)20 7496 3000

 Mark Bloomfield

 Sodali & Co                      +44 (0)20 7100 6451

 Gilly Lock

 Madeleine Gordon-Foxwell

 JTC                              +44 (0)15 3470 0000

 Claire Brazenall

 

About Foresight Solar

Foresight Solar Fund Limited (FSFL) is a FTSE 350 closed-end investment
company investing in the energy transition to generate income and deliver
long-term growth. The trust has £1 billion deployed into solar and battery
storage assets, managing approximately 1 GW of renewable energy infrastructure
and a growing proprietary pipeline. Foresight Solar's strategy combines steady
income today with the potential for capital growth in the future, delivering
value through the acquisition, development, construction and operation of
utility-scale projects predominantly in the UK. Underpinned by a progressive,
sustainable dividend, the business model provides the optionality to hold or
sell assets, generating profits and capturing financial gain for shareholders.
FSFL is managed by Foresight Group, a specialist global asset manager with
£13.7bn in assets under management and offices in the UK, Europe and
Australia.

 

LEI: 213800VO4O83JVSSOX33

 

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