NextEnergy Solar Fund Limited Result of AGM (0398I)

TIDMNESF

RNS Number : 0398I

NextEnergy Solar Fund Limited

09 August 2021

LEI: 213800ZPHCBDDSQH5447

9 August 2021

NextEnergy Solar Fund Limited

("NESF" or the "Company")

Results of Annual General Meeting

The Board of NextEnergy Solar Fund Limited announces that, at the Annual General Meeting of the Company held today, 9 August 2021, all resolutions put to the meeting were approved by shareholders.

 
 Ordinary Business - Ordinary Resolutions         For*        Against     Withheld** 
 1. To receive and adopt the Financial 
  Statements of the Company for the year 
  ended 31 March 2021                          365,669,025    462,685       85,001 
                                              ------------  -----------  ----------- 
 2. To approve the Directors' remuneration 
  report for the year ended 31 March 2021      366,027,644    103,668       85,399 
                                              ------------  -----------  ----------- 
 3. To approve the Company's dividend 
  policy                                       366,125,888     49,823       41,000 
                                              ------------  -----------  ----------- 
 4. To re-elect Kevin Lyon                     365,623,919    507,392       85,400 
                                              ------------  -----------  ----------- 
 5. To re-elect Patrick Firth                  363,507,669   2,623,642      85,400 
                                              ------------  -----------  ----------- 
 6. To re-elect Vic Holmes                     365,659,884    471,428       85,399 
                                              ------------  -----------  ----------- 
 7. To re-elect Jo Peacegood                   366,064,048     67,264       85,399 
                                              ------------  -----------  ----------- 
 8. To re-appoint KPMG Channel Islands 
  Limited as auditors to the Company           366,017,872    113,839       85,000 
                                              ------------  -----------  ----------- 
 9. To authorise the Directors to set 
  the remuneration of the auditor              365,863,524    268,187       85,000 
                                              ------------  -----------  ----------- 
 Special Business - Special Resolutions 
                                              ------------  -----------  ----------- 
 10. To authorise the Directors to allot 
  ordinary shares in the Company               365,835,991    325,660       55,060 
                                              ------------  -----------  ----------- 
 11. To authorise the Directors to allot 
  additional ordinary shares in the Company    321,605,657   44,555,993     55,061 
                                              ------------  -----------  ----------- 
 12. To authorise the Company to make 
  market purchases of its own shares           364,170,495   1,971,435      74,781 
                                              ------------  -----------  ----------- 
 

The full text of the resolutions may be found in the Notice of Annual General Meeting dated 12 July 2021, which is available on both the Company's website nextenergysolarfund.com and on the National Storage Mechanism https://data.fca.org.uk/#/nsm/nationalstoragemechanism *** . Details of the proxy votes lodged before the meeting will also be available shortly on the Company's website

A copy of the Special Resolutions passed at the Annual General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

*** .

   *              Includes discretionary votes received 

** A vote withheld is not a vote in law and is not counted in the proportion of votes 'for' or

'against' a                resolution 

*** Neither the NSM website nor the Company's website nor the content of any website accessible from hyperlinks on those websites (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement

For further information:

 
 NextEnergy Capital Group                       020 3746 0700 
 Michael Bonte-Friedheim                        [e-mail] 
 Aldo Beolchini 
  Ross Grier 
  Peter Hamid (Investor Relations) 
 
 Cenkos Securities                              020 7397 8900 
 James King 
  William Talkington 
 
 Shore Capital                                  020 7408 4090 
 Anita Ghanekar 
  Sarah Mather 
 
 
 Camarco                                        020 3781 8334 
 Owen Roberts 
  Eddie Livingstone-Learmonth 
 
 Apex Fund and Corporate Services (Guernsey) 
  Limited                                       01481 735 827 
 Nick Robilliard 
  Duke Le Prevost 
 

Notes to Editors(1) :

About NextEnergy Solar Fund

NESF is a renewable energy infrastructure investment company that currently invests in operating solar power plants in the UK and Italy. The Company may invest up to 30% of its gross asset value in non-UK OECD countries, 15% in private equity structures, and 10% in standalone energy storage.

NESF currently has a diversified portfolio comprising 94 operating solar assets, primarily on agricultural, industrial, and commercial sites, with a combined installed power capacity of c.814MWp.

As at 31 March 2021, the Company had gross assets of GBP1,025 million, of which 89% was invested in the UK, and net assets of GBP581 million. The majority of long-term cash flows from its investments are inflation-linked.

NESF's investment objective is to provide ordinary shareholders with attractive risk-adjusted returns, principally in the form of regular dividends, by investing in a diversified portfolio of primarily UK-based solar energy infrastructure assets.

For further information on NESF please visit nextenergysolarfund.com

Commitment to ESG

NESF is committed to ESG principles and responsible investment which make a meaningful contribution to reducing CO2 emissions through the generation of clean solar power. NESF will only select investments that meet the requirements of NEC Group's Sustainable Investment Policy. Based on this policy, NESF benefits from NEC's rigorous ESG due diligence on each investment. NESF is committed to reporting on its ESG performance in accordance with the UN Sustainable Development Goals framework and the EU Sustainable Finance Disclosure Regulation.

NESF has been awarded the London Stock Exchange's Green Economy Mark and has been designated a Guernsey Green Fund by the Guernsey Financial Services Commission.

NESF's sustainability-related disclosures in the financial services sector in accordance with Regulation (EU) 2019/2088 can be accessed on the ESG section of both the NESF website ( nextenergysolarfund.com/esg/ ) & NEC Group website ( nextenergycapital.com/sustainability/transparency-and-reporting/ ).

About NextEnergy Capital Group ("NEC Group")

NESF is managed by the NextEnergy Capital Group, a specialist solar investment manager, which has a strong track record in sourcing, acquiring, and managing operating solar assets. NEC Group is a leading player in the global solar investment sector and has over 190 team members with offices in UK, Italy, India, and the USA and assets under management of over $2.8bn across three institutional funds.

NextEnergy Capital Group donates 5% of its net annual profits to NextEnergy Foundation. NextEnergy Foundation is an international charity that was founded in 2016. Its mission is to participate proactively in the global effort to reduce carbon emissions, provide clean power sources in regions where they are not yet available, and contribute to poverty alleviation.

For further information on NEC Group please visit nextenergycapital.com

For further information on NextEnergy Foundation visit nextenergyfoundation.org

About WiseEnergy

WiseEnergy is NEC Group's specialist operating asset management division. NESF is differentiated by its access to WiseEnergy, which has provided operating asset management, monitoring, technical due diligence, and other services to over 1,500 utility-scale solar power plants with an installed capacity in excess of 2.3GW.

For further information on Wise Energy please visit wise-energy.com

([1]) Note: All financial data is as at 31 March 2021, being the latest date in respect of which NESF has published financial information

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August 09, 2021 08:16 ET (12:16 GMT)