REG - Gore Street Energy - Circular & Notice of Requisitioned General Meeting

Gore Street Energy Storage FundAnnouncement

Wed 07:02

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RNS Number : 0847T  Gore Street Energy Storage Fund PLC  30 July 2025

30 July 2025

Gore Street Energy Storage Fund plc

(the "Company" or "GSF")

Notice of Requisitioned General Meeting and Unanimous Board Recommendation to
VOTE AGAINST ALL Requisitioned Resolutions

Webinar Today

The Board of Gore Street Energy Storage Fund plc announces that it has today
published a circular (the "Circular") setting out in full its unanimous
recommendation to vote against all the Requisitioned Resolutions, and details
of the Company's response to the letters and accompanying notices dated 16
July 2025 from RM Funds.

For the reasons set out below, your Board unanimously recommends that you VOTE
AGAINST ALL the Resolutions that RM Funds has proposed and urges you to vote
your Shares.

-        The Company is delivering on its investment mandate. It now
has broadened the commercial operation of its full 924.1 MWh portfolio, which
is more than doubling its cash-generating assets during 2025, across five
diversified markets.

-        The Company has a positive outlook, with a strategic plan to
increase revenue from existing assets being executed by a strong and
independent Board. In the 12 months to 30 June 2025 share price total return
was 12.2 1  per cent., with further value creation anticipated.

-        The Board believes that RM Funds' activist intentions are
self-serving and that RM Funds' interests are not aligned with the interests
of all Shareholders.

-        Your Board has positioned the Company well for sustainable
long-term value creation, and this would be at risk of being derailed by an
activist investor via its nominees. One of RM Funds' proposed nominees is an
individual known for joining boards of investment companies to restructure and
start a managed run-off of portfolios.

-        An independent Board is critical in representing the interests
of all Shareholders, and not the interests of one particular Shareholder. The
Board is concerned that RM Funds' selected nominees may not act completely
independently of RM Funds.

-        The Board has today announced separately, that it is
implementing a clear and detailed strategy to enhance shareholder value and
designed to close the gap between the share price and NAV.

A copy of the Circular has been 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) and on the Company's
website at https://www.gsenergystoragefund.com/
(https://www.gsenergystoragefund.com/) .

The Circular contains a Notice of Requisitioned General Meeting to be held at
the offices of Stephenson Harwood LLP, 1 Finsbury Circus, London EC2M 7SH at 1
p.m. on 20 August 2025.

The full text is also available here:
http://www.rns-pdf.londonstockexchange.com/rns/0847T_1-2025-7-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0847T_1-2025-7-29.pdf) .

Action to be taken in respect of the Requisitioned General Meeting

EVERY VOTE WILL COUNT AND EACH VOTE IS IMPORTANT - SHAREHOLDERS SHOULD ENSURE
THEY VOTE TO HAVE THEIR SAY IN THE FUTURE OF THEIR COMPANY.

All Shareholders are encouraged to vote on the Resolutions to be proposed at
the Requisitioned General Meeting and, if their Ordinary Shares are not held
directly, to arrange for their nominee to vote on their behalf. Further
details on how to vote are available in the Circular.

Expected Timetable

 Latest time and date for receipt of Forms of Proxy and electronic proxy  1 p.m. on 18 August 2025
 appointments for the Requisitioned General Meeting*
 Requisitioned General Meeting                                            1 p.m. on 20 August 2025
 Announcement of results of the Requisitioned General Meeting             20 August 2025

 

*Shareholders should be aware that the deadlines for voting through platforms
may be earlier than the Company's proxy voting deadline.

 

Presentation Today:

The Company's Board of Directors will provide a live presentation via Investor
Meet Company on 30 July 2025, 14:30 BST.

The presentation is open to all existing and potential shareholders. Questions
can be submitted at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet GORE
STREET ENERGY STORAGE FUND PLC via:
https://www.investormeetcompany.com/gore-street-energy-storage-fund-plc/register-investor
(https://www.investormeetcompany.com/gore-street-energy-storage-fund-plc/register-investor)

 

 

For further information:  

Gore Street Investment
Management

Alex O'Cinneide / Paula Travesso / Ben Paulden
 

Email: ir@gorestreetcap.com (mailto:ir@gorestreetcap.com)
 
               Tel: +44 (0) 20 3826 0290

 

Shore Capital (Joint Corporate Broker)

Anita Ghanekar / Sophie Collins  (Corporate Advisory)
                       Tel: +44 (0) 20 7408 4090

Fiona Conroy (Corporate Broking)

 

J.P. Morgan Cazenove (Joint Corporate Broker)

William Simmonds / Jérémie Birnbaum (Corporate Finance)
                Tel: +44 (0) 20 3493 8000

 

Burson Buchanan (Media Enquiries) 

Charles Ryland / Henry Wilson / Nick
Croysdill
Tel: +44 (0) 20 7466 5000

Email: gorestreet@buchanan.uk.com

 1  Source: Morningstar

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