Bluefield Solar Income Fund Limited

AGM Information • Nov 29, 2022

National Storage Mechanism | Additional information

RNS Number : 9777H

Bluefield Solar Income Fund Limited

29 November 2022

29 November 2022

Bluefield Solar Income Fund Limited

('Bluefield Solar' or the 'Company')

Result of Annual General Meeting

Bluefield Solar (LON: BSIF), a UK income fund focused on acquiring and managing UK-based renewable energy and storage projects to provide growing dividends for its shareholders whilst furthering the decarbonisation of the energy system, announces that at the Annual General Meeting ("AGM") of the Company held at 10.00 am on 29 November 2022, Ordinary Resolutions 1 to 14 and Special Resolutions 15, 16 and 17 were passed without amendment.

The full text of the Special Resolutions is noted below:

Resolution 15

That, in substitution for any existing disapplication authority in force as at the date of this Annual General Meeting, the Directors be and are hereby generally and unconditionally authorised to allot, issue and/or sell equity securities for cash as if article 6.2 of the Articles of Incorporation did not apply to any such allotment, issue and/or  sale, provided that this power shall be limited to the allotment, issue and/or sale of up to 10 per cent. of the Ordinary Shares in issue as at the date of this Annual General Meeting for the period expiring at the date falling 15  months after the date of the passing of this resolution or the conclusion of the next annual general meeting of the Company, whichever is earlier (unless previously renewed, varied or revoked by the Company in a general meeting), save that the Company shall be entitled to make offers or agreements before the expiry of such power which would or might require equity securities to be allotted and issued after such expiry and the Directors shall be entitled to allot and issue equity securities pursuant to any such offer or agreement as if the power conferred hereby had not expired.

Resolution 16

That, in addition to any existing authorities granted to the Directors, the Directors be, and hereby are, empowered to allot, issue and/or sell equity securities for cash as if article 6.2 of the Articles of Incorporation did not apply to any such allotment, issue and/or sale, provided that this power shall be limited to the allotment, issue and/or sale of up to an additional 10 per cent. of the Ordinary Shares in issue as at the date of this Annual General Meeting for the period expiring at the date falling 15 months after the date of the passing of this resolution or the conclusion of the next annual general meeting of the Company, whichever is earlier (unless previously renewed, varied or revoked by the Company in general meeting), save that the Company shall be entitled to make offers or agreements before the expiry of such power which would or might require equity securities to be allotted and issued after such expiry and the Directors shall be entitled to allot and issue equity securities pursuant to any such offer or agreement as if the power conferred hereby had not expired.

Resolution 17

That, the Company's Articles of Incorporation produced to the meeting and for the purpose of identification initialled by the Chair of the meeting, be adopted as the Articles of Incorporation of the Company (the "New Articles") in substitution for, and to the exclusion of, the existing Articles of Incorporation.

The voting breakdown of all resolutions follow:

Resolution	Votes For**		Votes Against		Votes Withheld*
1 - Ordinary	373,852,345	99.99%	10,668	0.01%	21,364
2 - Ordinary	357,432,892	95.64%	16,296,927	4.36%	154,558
3 - Ordinary	372,091,092	99.6%	1,509,077	0.4%	284,208
4 - Ordinary	368,261,317	98.55%	5,421,026	1.45%	202,034
5 - Ordinary	369,261,547	98.82%	4,420,796	1.18%	202,034
6 - Ordinary	351,341,343	94.02%	22,341,000	5.98%	202,034
7 - Ordinary	354,415,213	94.84%	19,267,130	5.16%	202,034
8 - Ordinary	351,335,717	94.02%	22,346,626	5.98%	202,034
9 - Ordinary	373,634,991	99.99%	47,352	0.01%	202,034
10 - Ordinary	299,027,312	79.99%	74,806,067	20.01%	50,998
11 - Ordinary	292,488,504	78.24%	81,359,101	21.76%	36,772
12 - Ordinary	372,810,120	99.72%	1,048,237	0.28%	26,020
13 - Ordinary	373,822,322	99.99%	10,668	0.01%	51,387
14 - Ordinary	373,673,118	99.99%	51,958	0.01%	159,301
15 - Special	373,531,361	99.95%	180,231	0.05%	172,785
16 - Special	371,343,706	99.38%	2,335,487	0.62%	205,184
17 - Special	373,699,716	99.99%	30,704	0.01%	153,957

*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.

** including discretionary votes.

The Company notes the significant votes against resolutions 10 and 11, the re-appointment of the auditors and authorising the Directors to set their remuneration. In line with corporate governance guidance, the Company will be undertaking an audit tender process during 2023 as the current auditors will have been in place for 10 years.

For further information:

Bluefield Partners LLP (Company Investment Adviser) James Armstrong / Neil Wood / Giovanni Terranova	Tel: +44 (0) 20 7078 0020 www.bluefieldllp.com
Numis Securities Limited (Company Broker) Tod Davis / David Benda / Vicki Paine	Tel: +44 (0) 20 7260 1000 www.numis.com
Ocorian Administration (Guernsey) Limited (Company Secretary & Administrator) Patrick Ogier	Tel: +44 (0) 1481 742 742 www.ocorian.com
Media enquiries: Buchanan (PR Adviser) Henry Harrison-Topham / Henry Wilson	Tel: +44 (0) 20 7466 5000 www.buchanan.uk.com BSIF@buchanan.uk.com

Notes to editors:

About Bluefield Solar

Bluefield Solar is a sterling income fund focused on acquiring and managing renewable energy and storage projects in the UK, to provide long term, growing dividends for its shareholders whilst furthering the decarbonisation of the energy system.  Not less than 75% of the Company's gross assets will be invested into UK solar assets.  The Company can also invest up to 25% of its gross assets into other technologies, such as wind and storage.  The majority of the Company's revenue streams are regulated and non-correlated to short term UK energy market fluctuations.  Bluefield Solar owns and operates one of the UK's largest, diversified portfolios of solar assets with a combined installed power capacity in excess of 766 MWp.

Bluefield Solar is listed on the Main Market of the London Stock Exchange and is a member of the FTSE 250, classified within the Closed End Investments subsector.

Further information can be viewed at www.bluefieldsif.com

About Bluefield Partners

Bluefield Partners LLP was established in 2009 and is an investment adviser to companies and funds investing in renewable energy infrastructure.  It has a proven record in the selection, acquisition and supervision of large-scale energy assets in the UK and Europe.  The team has been involved in over £4 billion renewable funds and/or transactions in both the UK and Europe, including over £1 billion in the UK since December 2011.

Bluefield Partners LLP has led the acquisitions of, and currently advises on, over 100 UK based solar PV assets that are agriculturally, commercially or industrially situated.  Based in its London office, it is supported by a dedicated and experienced team of investment, legal and portfolio executives.  Bluefield Partners LLP was appointed Investment Adviser to Bluefield Solar in June 2013.

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