RNS Announcements

Result of AGM

16 September 2026

Gore Street Energy Storage Fund plc announces the results of its Annual General Meeting, held today.

All of the resolutions (1 to 15) proposed by the Company were duly passed. Neither of the resolutions (16 and 17) requisitioned by Saba Capital Management, L.P. ("Saba") was passed.

The Board would like to thank all Shareholders for their engagement and participation in the vote.

All resolutions were voted on by way of a poll and details of the votes cast on each resolution are in the table below. The vote was supervised by Civica Election Services, appointed by the Board as an independent assessor to report on the poll held at the AGM.

 


 Resolution Votes For (including discretionary) % Votes Against (including discretionary) % Votes Withheld % of Issued Share Capital voted
1 To receive the annual financial statements with the Directors' and auditor's reports on the statements 329,588,449 99.51 1,630,805 0.49 7,221,093 65.58%
2 To approve the dividend frequency policy 316,555,581 95.47 15,021,531 4.53 6,863,235 65.65%
3 To approve the Directors' remuneration report 312,852,353 96.31 11,977,440 3.69 13,610,554 64.31%
4 To approve the remuneration policy 300,530,623 96.70 10,262,185 3.30 27,647,539 61.53%
5 To elect Angus Gordon Lennox 183,886,136 55.27 148,845,624 44.73 5,708,587 65.87%
6 To elect Norman Crighton 303,047,670 93.32 21,678,341 6.68 13,714,336 64.29%
7 To elect Christine Higgins 301,673,269 90.63 31,188,237 9.37 5,578,841 65.90%
8 To elect Simon Merriweather 308,542,855 92.69 24,340,674 7.31 5,556,818 65.90%
9 To elect Keith Pickard 301,468,520 91.71 27,242,740 8.29 9,729,087 65.08%
10 To appoint Ernst & Young LLP as auditor 319,029,841 97.67 7,609,255 2.33 11,801,251 64.67%
11 To authorise the Directors to determine the Auditor's remuneration 319,325,769 97.76 7,330,629 2.24 11,783,949 64.67%
12 To authorise the Directors to allot shares 307,593,289 93.27 22,194,388 6.73 8,652,670 65.29%
13* Subject to the passing of resolution 12, to authorise the Directors to allot equity securities on a non-pre-emptive basis   285,740,184 86.72 43,744,779 13.28 8,955,384 65.23%
14* To renew the authority of the Company to make market purchases of own ordinary shares 328,338,654 99.10 2,985,183 0.90 7,116,510 65.60%
15* To approve a 14-day notice period for general meetings   316,052,418 95.42 15,171,105 4.58 7,216,824 65.58%
16 THAT the Company shall not continue in existence as an investment company 149,302,202 44.03 189,795,804 55.97 2,010,528 67.13%
17* THAT, if Resolution 16 is passed, then within 3 months the directors of the Company shall put forward proposals to the members of the Company to the effect that the Company be wound up, liquidated, reorganised or unitised. 150,005,481 44.25 189,023,852 55.75 2,079,201 67.12%

 

*Resolutions 13-15 and 17 were proposed as special resolutions.

While Resolution 5 passed, a significant number of votes were cast against. Similarly, although requisitioned resolutions 16 and 17 failed, they received a significant number of votes in favour.

The Board is therefore cognisant of the range of views expressed, particularly from the Company's largest Shareholder, and will seek to engage to establish a productive way forward for the Company and all Shareholders so that ongoing disruption can be avoided in the interest of best delivering enhanced value. The Board will therefore engage with Shareholders to discuss any views they may have in line with Provision 4 of the AIC Corporate Governance Code 2024 and will report on the actions it has taken to further engage with Shareholders. 

On a poll, 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: in favour of the resolutions proposed by the Company (1 to 15), and their votes have been included in the "votes for" column; and against the resolutions requisitioned on behalf of Saba (16 and 17), and their votes 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.  

In accordance with UKLR 6.4.2, a copy of the resolutions passed, other than resolutions concerning ordinary business, at today's AGM will be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

For further information:  

Gore Street Investment Management Limited

  
Benjamin Hanley Tel: +44 (0) 20 4583 6354
Amy King Tel: +44 (0) 20 4526 1283
   
Shore Capital (Joint Corporate Broker)  
Anita Ghanekar / Sophie Collins (Corporate Advisory)
Fiona Conroy (Corporate Broking)		 Tel: +44 (0) 20 7408 4090
   
J.P. Morgan Cazenove (Joint Corporate Broker)  
William Simmonds / Rupert Budge Tel: +44 (0) 20 3493 8000
   
Burson Buchanan (Media Enquiries)  
Henry Wilson / Henry Harrison-Topham / Nick Croysdill
Email: gorestreet@buchanan.uk.com		 Tel: +44 (0) 20 7466 5000

 

https://www.gsenergystoragefund.com

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