REG - Gresham House Energy - Result of 2025 Annual General Meeting

Gresham House Energy Storage FundAnnouncement

24/06/2025 15:30

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RNS Number : 2302O  Gresham House Energy Storage Fund  24 June 2025

24 June 2025

GRESHAM HOUSE ENERGY STORAGE FUND PLC

(GRID, the "Company")

Result of 2025 Annual General Meeting

 

Gresham House Energy Storage Fund PLC (LSE: GRID) announces that at the
Company's 2025 Annual General Meeting held today, all resolutions were passed
on poll and the results of the poll, including the proxy votes received, are
set out below.

Resolutions 1 to 12 (inclusive) were proposed as ordinary resolutions and
resolutions 13 to 15 (inclusive) were proposed as special resolutions.

 

     Resolution                                                                    Votes For(1)  %       Votes Against  %     Total votes validly cast  Total votes cast as % of issued share capital(2)  Votes Withheld(3)
 1   Receive annual accounts for period ended 31 December 2024.                    359,666,669   100.00  15,608         0.00  359,682,277               63.21                                             267,923
 2   Approve directors' remuneration report.                                       358,530,945   99.71   1,029,431      0.29  359,560,376               63.18                                             389,824
 3   Approve the Company's dividend policy.                                        359,421,852   99.92   288,862        0.08  359,710,714               63.21                                             239,486
 4   Re-elect John Leggate as a director.                                          358,647,247   99.73   986,662        0.27  359,633,909               63.20                                             316,291
 5   Re-elect Isabel Liu as director.                                              358,579,163   99.71   1,054,797      0.29  359,633,960               63.20                                             316,240
 6   Re-elect Duncan Neale as a director.                                          358,684,749   99.74   949,160        0.26  359,633,909               63.20                                             316,291
 7   Re-elect Cathy Pitt as a director.                                            358,467,570   99.71   1,047,799      0.29  359,515,369               63.18                                             434,831
 8   Re-elect David Stevenson as director.                                         358,697,763   99.74   936,146        0.26  359,633,909               63.20                                             316,291
 9   To re-appoint BDO LLP as the Company's auditor.                               324,896,293   99.95   164,744        0.05  325,061,037               57.12                                             34,889,163
 10  To authorise the board of directors to determine the auditor's remuneration.  345,860,872   99.98   79,658         0.02  345,940,530               60.79                                             14,009,670
 11  To amend the Company's Articles of Association to increase the aggregate      357,575,438   99.45   1,972,062      0.55  359,547,500               63.18                                             402,700
     amount of directors' fees payable to the Company's Board of directors to
     £550,000.

 12  To authorise the Company to allot ordinary shares.                            358,260,331   99.61   1,406,281      0.39  359,666,612               63.20                                             283,587
 13  To authorise the disapplication of statutory pre-emption in relation the      357,490,728   99.38   2,219,483      0.62  359,710,211               63.21                                             239,988
     ordinary shares authorised in resolution 12.
 14  To authorise the Company to make market purchases of its own shares.          359,603,671   99.97   96,286         0.03  359,699,957               63.21                                             250,243
 15  To permit general meetings to be called on 14 days' notice.                   359,295,851   99.93   245,441        0.07  359,541,292               63.18                                             408,908

 

(1) Includes discretionary votes cast by the Chair.

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

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

 

Notes:

 

Every shareholder has one vote for every Ordinary Share held. As at close of
business on Friday, 20 June 2025, the share capital of the Company consisted
of 573,444,694 Ordinary Shares of which 569,064,139 shares held with voting
rights. The Company held 4,380,555 Ordinary Shares in treasury.

 

In accordance with UK Listing Rule 6.4.2 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 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

 Harry Randall

 Peel
 Hunt

 Luke

 Simpson                                                                                                                                   44 (0) 20 7418 8900

 Huw
 Jeremy

 KL Communications

 Charles Gorman                                                                                                                            +44 (0) 20 3995 6673

 Charlotte Francis

 JTC (UK) Limited as Company Secretary

 Christopher Gibbons                                                                                                                       +44 (0) 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 and internationally. 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
and a levered Net Asset Value total return of 15% per annum, in each case
calculated net of the Company's costs and expenses.

 

Gresham House Asset Management is the FCA authorised operating business of
Gresham House Ltd, a specialist alternative asset manager. Gresham House is
committed to operating responsibly and sustainably, taking the long view in
delivering sustainable investment solutions.

 

http://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.

LEI number: 213800MSJXKH25C23D82

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