GORE STREET ENERGY STORAGE FUND PLC

AGM Information • Aug 20, 2025

National Storage Mechanism | Additional information

RNS Number : 1297W

Gore Street Energy Storage Fund PLC

20 August 2025

20 August 2025

Gore Street Energy Storage Fund plc

Result of Requisitioned General Meeting

Gore Street Energy Storage Fund plc ("the Company") announces the result of the Requisitioned General Meeting of the Company held at the offices of Stephenson Harwood LLP, 1 Finsbury Circus, London EC2M 7SH on Wednesday, 20 August 2025. The requisitioned resolutions 1-4 as set out in the circular & Notice of Meeting all failed to pass on a poll.

The Board would like to thank all shareholders for their engagement, support and participation in the vote. The results of the poll were:

	Resolution	Votes For	%	Votes Against (including discretionary)	%	Votes Withheld	% of Issued Share Capital voted
1	Appointment of Brett Miller	95,716,693	30.48	218,354,422	69.52	625,818	62.18%
2	Appointment of Ian Dixon	103,513,211	32.97	210,412,916	67.03	770,806	62.15%
3	Removal of Pat Cox	96,567,845	30.74	217,555,593	69.26	573,495	62.19%
4	Removal of Caroline Banszky	96,432,434	30.70	217,642,683	69.30	621,816	62.18%

While a majority voted in line with the Board's recommendations, the Board acknowledges that a significant minority voted for the resolutions above.

The Board has listened to shareholder feedback received from the engagements over the past several months, including through direct meetings with a majority of shareholders. These discussions covered a range of topics, including Board composition, capital allocation, and the Company's long-term strategic directions. With respect to Board refreshment, the first new appointment is anticipated imminently, and a further appointment in 2026.

The Board also intends to maintain an open and constructive dialogue with shareholders throughout this process. In line with Provision 4 of the AIC Corporate Governance Code 2024, the Board will report on the actions it has taken and will take following this consultation. The Board also expects to undertake a further round of formal shareholder engagement in approximately six months' time to update on progress.

Patrick Cox, Chair of the Company, said:

"We are grateful for the strong support shown by shareholders today. With the distraction of the general meeting now behind us, the Board is fully focused on delivering the strategy we have outlined, including sale or co-investment for the Company's c.495MW of preconstruction assets, increasing the duration of key GB and Irish assets, increasing revenue through propriety revenue optimisation models, as well as seeking further cost reduction in addition to the IM fee reduction, and continuing the Board refreshment process already underway. I look forward to continuing the open dialogue with shareholders over the coming months."

Shareholders are entitled to one vote per share. Votes withheld are not a vote in law and are therefore not counted in the calculation of the percentages of the votes cast for and against a resolution. Where shareholders appointed the Chairman as their proxy with discretion as to voting, their votes were cast against all of the resolutions and their shares have been included in the "votes against" column.

The total number of ordinary shares of 1p each in issue is 505,099,478. The total number of voting rights is: 505,099,478.   

Gore Street Services Limited

Company Secretary

For further information:  

Gore Street Investment Management                  

Alex O'Cinneide / Paula Travesso / Ben Paulden                                                               

Email: ir@gorestreetcap.com                                                                                    Tel: +44 (0) 20 4551 7860

Shore Capital (Joint Corporate Broker) 

Anita Ghanekar / Sophie Collins                (Corporate Advisory)                              Tel: +44 (0) 20 7408 4090

Fiona Conroy (Corporate Broking)

J.P. Morgan Cazenove (Joint Corporate Broker)               

William Simmonds / Jérémie Birnbaum (Corporate Finance)                                  Tel: +44 (0) 20 3493 8000

Burson Buchanan (Media Enquiries)     

Charles Ryland / Henry Wilson / Nick Croysdill                                                       Tel: +44 (0) 20 7466 5000

Email: gorestreet@buchanan.uk.com    

https://www.gsenergystoragefund.com

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