REG - Gore Street Energy - Quarterly Valuation and Dividend Declaration

Gore Street Energy Storage FundAnnouncement

21/09/2022 07:00

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RNS Number : 0511A  Gore Street Energy Storage Fund PLC  21 September 2022

21 September 2022

Gore Street Energy Storage Fund plc

(the "Company" or "GSF")

Quarterly Update and Dividend Declaration

GSF, London's first energy storage fund supporting the transition to low
carbon power, is pleased to announce its unaudited Net Asset Value ("NAV") for
the quarter ended 30 June 2022.

NAV Update

As at 30 June 2022, the estimated unaudited NAV was 108.7 pence per share,
representing an uplift of 1.6 pence per share (1.45%) from the adjusted NAV 1 
(#_ftn1) as at 31 March 2022 (107.1 pence per share).

The Company's NAV during the period benefitted from closing the acquisition of
four 10MW assets in Texas (ERCOT) along with strong performance across the
operational assets in Germany and Great Britain. The construction assets in
the portfolio continued to track spend in line with the budget.

During unaudited quarters, no updates are made to any long-term assumptions in
relation to portfolio companies' valuations.

Dividend Declaration

In addition, the Company's Board of Directors has declared an interim dividend
of 2.0 pence per ordinary share for the period 1 April 2022 to 30 June 2022.
The ex-dividend date will be 29 September 2022 and the record date 30
September 2022. The dividend will be paid on or around 21 October 2022.

For further information:

 Gore Street Capital Limited
 Alex O'Cinneide / Paula Travesso                                        Tel: +44 (0) 20 3826 0290
 Shore Capital (Joint Corporate Broker)
 Anita Ghanekar / Rose Ramsden / Iain Sexton (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 7742 4000

 Buchanan (Media Enquiries)
 Charles Ryland / Henry Wilson / George Beale                            Tel: +44 (0) 20 7466 5000
                                                                         Email: gorestreet@buchanan.uk.com

 

 1  (#_ftnref1) This 107.1 NAV/share is the NAV/share adjusted from the
reported NAV of £376.5m by the £6.9m dividends declared during the quarter,
paid in April.

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