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GRID Gresham House Energy Storage Fund Plc

41.80
0.30 (0.72%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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 0.72% 41.80 41.80 42.30 42.50 41.80 42.50 1,634,625 16:14:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 225.44M 217.14M 5.6732 0.07 16M

Gresham House Energy Storage Fund Result of 2020 Annual General Meeting (5392R)

30/06/2020 12:00pm

UK Regulatory


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TIDMGRID

RNS Number : 5392R

Gresham House Energy Storage Fund

30 June 2020

30 June 2020

GRESHAM HOUSE ENERGY STORAGE FUND PLC

(GRID, the "Company")

Result of 2020 Annual General Meeting

Gresham House Energy Storage Fund PLC (LSE: GRID) announces that at the Company's 2020 Annual General Meeting held today, all resolutions were passed on a show of hands and the results of the proxy votes received are set out below.

Resolutions 1 to 13 (inclusive) were proposed as ordinary resolutions and resolutions 14 to 17 (inclusive) were proposed as special resolutions.

 
      Resolution       Votes For*    %        Votes Against   %      Total votes      Total votes      Vote Withheld 
                                                                     validly cast     cast as % of     ** 
                                                                                      issued share 
                                                                                      capital 
      Receive annual 
      accounts for 
      period ended 
      31 December 
 1    2019             162,351,111   100.00         0         0.00    162,351,111         69.30               0 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
      Approve 
      directors' 
      remuneration 
 2    report           162,316,392   100.00       5,000       0.00    162,321,392         69.29            29,719 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 3    Approve the      162,311,910   100.00       5,000       0.00    162,316,910         69.29            34,201 
      directors' 
      remuneration 
      policy 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
      Approve the 
      Company's 
      dividend 
 4    policy           162,350,170   100.00        941        0.00    162,351,111         69.30               0 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
      Re-elect John 
      Leggate as a 
 5    director         162,336,279   100.00         0         0.00    162,336,279         69.29            14,832 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
      Re-elect 
      Duncan Neale 
 6    as a director    162,336,279   100.00         0         0.00    162,336,279         69.29            14,832 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
      Re-elect Cathy 
      Pitt as a 
 7    director         162,340,761   100.00         0         0.00    162,340,761         69.30            10,350 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
      Re-elect David 
      Stevenson as 
 8    director         162,336,279   100.00         0         0.00    162,336,279         69.29            14,832 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 9    To re-appoint    162,344,773   100.00         0         0.00    162,344,773         69.30             6,338 
      BDO LLP as the 
      Company's 
      0auditor 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 10   To authorise     162,351,111   100.00         0         0.00    162,351,111         69.30               0 
      the board of 
      directors to 
      determine the 
      auditors 
      remuneration 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 11   Amendment to     162,327,899   100.00         0         0.00    162,327,899         69.29            23,212 
      the Company's 
      investment 
      policy 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 12   To authorise     162,327,899   100.00         0         0.00    162,327,899         69.29            23,212 
      the Company to 
      allot ordinary 
      shares 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 13   To authorise     162,302,889   100.00         0         0.00    162,302,889         69.28            33,562 
      the Company to 
      allot ordinary 
      further shares 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 14   To authorise     162,277,466   99.98       25,423       0.02    162,302,889         69.28            33,562 
      the 
      disapplication 
      of statutory 
      pre-emption 
      rights in 
      relation the 
      ordinary 
      shares 
      authorised in 
      resolution 12 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 15   To authorise     157,850,999   97.26      4,451,890     2.74    162,302,889         69.28            33,562 
      the 
      disapplication 
      of statutory 
      pre-emption 
      rights in 
      relation the 
      ordinary 
      shares 
      authorised in 
      resolution 13 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 16   To authorise     147,389,777   90.79     14,946,674     9.21    162,336,451         69.29               0 
      the Company to 
      make market 
      purchases of 
      its own shares 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 17   To permit        161,284,875   99.35      1,051,576     0.65    162,336,451         69.29               0 
      general 
      meetings to be 
      called on 14 
      days' notice 
     ---------------  ------------  -------  --------------  -----  ---------------  ---------------  ---------------- 
 

* Includes discretionary votes

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

For further information, please contact:

 
 
 Gresham House New Energy                   +44 (0) 20 3837 
  Ben Guest                                 6270 
 
 Jefferies International Limited 
  Stuart Klein 
  Neil Winward                              +44 (0) 20 7029 
  Gaudi le Roux                             8000 
 KL Communications 
  Charles Gorman 
  Camilla Esmund                            +44 (0) 20 3995 
  Alex Hogan                                6673 
 JTC (UK) Limited as Company Secretary    +44 (0) 207 409 
  Christopher Gibbons                      0181 
 

Notes:

Every shareholder has one vote for every Ordinary Share held. As at close of business on 26 June 2020, the share capital of the Company consisted of 234,270,650 Ordinary Shares with voting rights. The Company does not hold any shares in Treasury.

In accordance with Listing Rule 9.6.2 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 .

About the Company and the Manager:

Gresham House Energy Storage Fund plc owns a portfolio of utility-scale operational energy storage systems (known as ESS) located in Great Britain. The portfolio has a total capacity of 174MW. 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 GBP237 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 having developed 124MW of Energy Storage Systems and approximately 290MW of predominantly ground-mounted solar projects. Gresham House Asset Management currently manages approximately 195MW of solar and wind energy projects.

Gresham House Asset Management is the Financial Conduct Authority 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

Definition of Utility-scale battery Storage Systems

Utility-scale battery storage systems 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 for it.

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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June 30, 2020 07:00 ET (11:00 GMT)

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