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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gresham House Energy Storage Fund Plc | LSE:GRID | London | Ordinary Share | GB00BFX3K770 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.30 | 0.53% | 56.80 | 54.90 | 56.70 | 56.70 | 55.00 | 56.70 | 427,330 | 16:35:26 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | 225.44M | 217.14M | 5.6732 | 0.10 | 21.7M |
TIDMGRID
RNS Number : 2617N
Gresham House Energy Storage Fund
23 September 2019
23 September 2019
GRESHAM HOUSE ENERGY STORAGE FUND PLC
(the "Company")
Posting of Circular and Notice of General Meeting
The Company has today posted the Circular convening a general meeting (the "General Meeting") to be held at 10 a.m. on 16 October 2019 at the offices of Eversheds Sutherland (International) LLP at One Wood Street, London EC2V 7WS.
The Resolutions to be considered at the General Meeting are as follows:
i. granting the Board authority to issue on a non-pre-emptive basis, up to 16,383,800 Shares, being 10 per cent. of the Company's issued share capital as at the Latest Practicable Date or, if changed, such number of Shares as represents 10 per cent. of issued share capital as at the conclusion of the General Meeting, such authority to have effect until the conclusion of the next Annual General Meeting of the Company (the "General Authority") and
ii. providing that any General Meeting of the Company other than the Annual General Meeting may be called on not less than 14 clear days' notice.
The Company's placing programme (the "Placing Programme") closes on 16 October 2019. Following that date, the Company will be unable to issue any further Shares. In order to enable the Company to allot further Shares on a non-pre-emptive basis the Board is seeking the General Authority to allot Shares on an ongoing basis so that the Company can meet investor demand for Shares and raise capital for investment in accordance with the Company's investment policy.
It is intended that the Shares will be issued at a price calculated by reference to the last published cum-income Net Asset Value per existing Ordinary Share together with a premium intended to at least cover the costs and expenses of the relevant allotment (including, without limitation, any placing commission), such costs and expenses being estimated at 2 per cent. of the amount raised in any allotment and will be accretive to the NAV per Share.
Unless otherwise defined, the terms used in this Announcement shall have the same meaning as set out in the Circular.
A copy of the circular will be available for inspection on the Company's website at https://newenergy.greshamhouse.com/funds/esf/.
The circular will be also available for inspection on the National Storage Mechanism which is located at http://www.morningstar.co.uk/uk/nsm.do.
Further information
Gresham House New Energy Ben Guest +44 (0) 20 3837 6270 Cantor Fitzgerald Europe Richard Harris (sales) Robert Peel (corporate +44 (0) 20 7894 8229 finance) +44 (0) 20 7894 7719 Alan Ray (corporate finance) +44 (0) 20 7894 8590 Montfort Communications greshamhouse@montfort.london Gay Collins +44 (0) 779 862 6282 Louis Supple +44 (0) 203 770 7907
About the Company and the Manager
Gresham House Energy Storage Fund PLC owns a portfolio of six utility-scale operational energy storage systems (known as ESS) located in Great Britain. The portfolio has a total capacity of 75MW. The Company is managed by Gresham House Asset Management Limited under the leadership of Ben Guest. The Company was admitted to trading on the London Stock Exchange (Specialist Fund Segment) on 13 November 2018 having raised GBP100 million of gross proceeds from investors. Including issuance under the Placing Programme, it has now raised a total of approximately GBP165 million of gross proceeds from investors.
The Gresham House New Energy team has a proven track record in developing and operating energy storage and other renewable assets sector having developed 75MW of Energy Storage Systems and approximately 290MW of predominantly ground-mounted solar projects.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
September 23, 2019 04:13 ET (08:13 GMT)
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