REG - Gresham House Energy - Dividend Declaration

Gresham House Energy Storage FundAnnouncement

27/09/2022 07:00

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RNS Number : 7042A  Gresham House Energy Storage Fund  27 September 2022

27 September 2022

GRESHAM HOUSE ENERGY STORAGE FUND PLC

("GRID" or the "Company")

Declaration of Dividend

Gresham House Energy Storage Fund PLC (LSE: GRID) is pleased to announce a
dividend of 1.75p per Ordinary Share for the period from 1 April 2022 to 30
June 2022. The dividend will be paid on 28 October 2022 to Shareholders on the
register as at the close of business on 7 October 2022. The ex-dividend date
is 6 October 2022.

Any such dividend payment to Shareholders may take the form of either dividend
income or "qualifying interest income" which may be designated as an interest
distribution for UK tax purposes and therefore subject to the interest
streaming regime applicable to investment trusts. Of this dividend declared of
1.75 pence per Ordinary Share, 0.65 pence is declared as dividend income with
1.1 pence treated as qualifying interest income.

 

For further information, please contact:

 Gresham House New Energy

 Ben Guest                              +44 (0) 20 3837 6270

 Jefferies International Limited

 Stuart Klein                           +44 (0) 20 7029 8000

 Gaudi Le Roux                          +44 (0) 20 7029 8000

 KL Communications                      gh@kl-communications.com (mailto:gh@kl-communications.com)

 Charles Gorman                         +44 (0) 20 3995 6699

 Will Sanderson

 Millie Steyn
 JTC (UK) Limited as Company Secretary  GHEnergyStorageCoSec@jtcgroup.com (mailto:GHEnergyStorageCoSec@jtcgroup.com)

 Christopher Gibbons

                                        +44 207 409 0181

 

About the Company and the Manager:

Gresham House Energy Storage Fund plc seeks to provide investors with an
attractive and sustainable dividend over the long term by investing in a
diversified portfolio of utility-scale battery energy storage systems (known
as BESS) located in Great Britain, Northern Ireland, and the Republic of
Ireland. In addition, the Company seeks to provide investors with the prospect
of capital growth through the re-investment of net cash generated in excess of
the target dividend in accordance with the Company's investment policy.

The Company targets an unlevered Net Asset Value total return of 8% per annum,
calculated net of the Company's costs and expenses.

Gresham House Asset Management Limited 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. www.greshamhouse.com (http://www.greshamhouse.com/)

 

Definition of utility-scale battery energy storage systems (BESS)

Utility-scale battery energy storage systems (BESS) 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. BESS also provide Frequency Response
services to National Grid whereby batteries import and export power with the
aim to keep real-time supply and demand in near-perfect balance while also
protecting against unexpected outages of major power plants.

 

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