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GORE STREET ENERGY STORAGE FUND PLC
Net Asset Value • Sep 21, 2022
5001_rns_2022-09-21_e445aff1-4211-47fa-bd88-f9251c44fd54.html
Net Asset Value
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National Storage Mechanism | Additional information 
RNS Number : 0511A
Gore Street Energy Storage Fund PLC
21 September 2022
21 September 2022
Gore Street Energy Storage Fund plc
(the "Company" or "GSF")
Quarterly Update and Dividend Declaration
GSF, London's first energy storage fund supporting the transition to low carbon power, is pleased to announce its unaudited Net Asset Value ("NAV") for the quarter ended 30 June 2022.
NAV Update
As at 30 June 2022, the estimated unaudited NAV was 108.7 pence per share, representing an uplift of 1.6 pence per share (1.45%) from the adjusted NAV[1] as at 31 March 2022 (107.1 pence per share).
The Company's NAV during the period benefitted from closing the acquisition of four 10MW assets in Texas (ERCOT) along with strong performance across the operational assets in Germany and Great Britain. The construction assets in the portfolio continued to track spend in line with the budget.
During unaudited quarters, no updates are made to any long-term assumptions in relation to portfolio companies' valuations.
Dividend Declaration
In addition, the Company's Board of Directors has declared an interim dividend of 2.0 pence per ordinary share for the period 1 April 2022 to 30 June 2022. The ex-dividend date will be 29 September 2022 and the record date 30 September 2022. The dividend will be paid on or around 21 October 2022.
For further information:
| Gore Street Capital Limited | ||
| Alex O'Cinneide / Paula Travesso | Tel: +44 (0) 20 3826 0290 | |
| Shore Capital (Joint Corporate Broker) | ||
| Anita Ghanekar / Rose Ramsden / Iain Sexton (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 7742 4000 | |
| Buchanan (Media Enquiries) | ||
| Charles Ryland / Henry Wilson / George Beale | Tel: +44 (0) 20 7466 5000 | |
| Email: [email protected] | ||
[1] This 107.1 NAV/share is the NAV/share adjusted from the reported NAV of £376.5m by the £6.9m dividends declared during the quarter, paid in April.
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