REG - Gore Street Energy - Result of Meeting

Gore Street Energy Storage FundAnnouncement

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RNS Number : 1297W  Gore Street Energy Storage Fund PLC  20 August 2025

20 August 2025

 

Gore Street Energy Storage Fund plc

Result of Requisitioned General Meeting

 

Gore Street Energy Storage Fund plc ("the Company") announces the result of
the Requisitioned General Meeting of the Company held at the offices of
Stephenson Harwood LLP, 1 Finsbury Circus, London EC2M 7SH on Wednesday, 20
August 2025. The requisitioned resolutions 1-4 as set out in the circular
& Notice of Meeting all failed to pass on a poll.

The Board would like to thank all shareholders for their engagement, support
and participation in the vote. The results of the poll were:

 

    Resolution                   Votes For    %      Votes Against (including discretionary)  %      Votes Withheld  % of Issued Share Capital voted
 1  Appointment of Brett Miller  95,716,693   30.48  218,354,422                              69.52  625,818         62.18%
 2  Appointment of Ian Dixon     103,513,211  32.97  210,412,916                              67.03  770,806         62.15%
 3  Removal of Pat Cox           96,567,845   30.74  217,555,593                              69.26  573,495         62.19%
 4  Removal of Caroline Banszky  96,432,434   30.70  217,642,683                              69.30  621,816         62.18%

While a majority voted in line with the Board's recommendations, the Board
acknowledges that a significant minority voted for the resolutions above.

The Board has listened to shareholder feedback received from the engagements
over the past several months, including through direct meetings with a
majority of shareholders. These discussions covered a range of topics,
including Board composition, capital allocation, and the Company's long-term
strategic directions. With respect to Board refreshment, the first new
appointment is anticipated imminently, and a further appointment in 2026.

The Board also intends to maintain an open and constructive dialogue with
shareholders throughout this process. In line with Provision 4 of the AIC
Corporate Governance Code 2024, the Board will report on the actions it has
taken and will take following this consultation. The Board also expects to
undertake a further round of formal shareholder engagement in approximately
six months' time to update on progress.

 

Patrick Cox, Chair of the Company, said:

"We are grateful for the strong support shown by shareholders today. With the
distraction of the general meeting now behind us, the Board is fully focused
on delivering the strategy we have outlined, including sale or co-investment
for the Company's c.495MW of preconstruction assets, increasing the duration
of key GB and Irish assets, increasing revenue through propriety revenue
optimisation models, as well as seeking further cost reduction in addition to
the IM fee reduction, and continuing the Board refreshment process already
underway. I look forward to continuing the open dialogue with shareholders
over the coming months."

 

 

Shareholders are entitled to one vote per share. Votes withheld are not a vote
in law and are therefore not counted in the calculation of the percentages of
the votes cast for and against a resolution. Where shareholders appointed the
Chairman as their proxy with discretion as to voting, their votes were cast
against all of the resolutions and their shares have been included in the
"votes against" column.

 

The total number of ordinary shares of 1p each in issue is 505,099,478. The
total number of voting rights is: 505,099,478.

 

Gore Street Services Limited

Company Secretary

 

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 4551 7860

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

 

https://www.gsenergystoragefund.com (https://www.gsenergystoragefund.com)

 

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