LEI: 213800ZPHCBDDSQH5447
12 August 2024
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Results of Annual General Meeting
NextEnergy Solar Fund, a leading specialist investor in solar energy and energy storage, is pleased to announce that at the Annual General Meeting ("AGM") of the Company held today at 12.00pm on 12 August 2024, ALL proposed Ordinary and Special Resolutions were voted in line with the Board's voting recommendations.
Ordinary Resolutions 1-10 and Special Resolutions 11-13 passed with the requisite majority. In accordance with the recommendation of the Board, Special Resolution 14 (The Discontinuation Vote) DID NOT pass meaning that the majority of the Company's long-term shareholders remain highly supportive of the continuation of the Company.
The voting breakdown of all resolutions is as follows:
|
Ordinary Business - Ordinary Resolutions |
Votes For |
Votes Against |
Votes Withheld* |
||
|
1. To receive and adopt the Financial Statements of the Company for the year ended 31 March 2024 |
352,321,350 |
99.97% |
97,624 |
0.03% |
320,682 |
|
2. To approve the Directors' remuneration report for the year ended 31 March 2024 |
351,716,255 |
99.83% |
591,227 |
0.17% |
432,174 |
|
3. To approve the Company's dividend policy |
352,426,516 |
99.97% |
120,382
|
0.03% |
192,758 |
|
4. To re-elect Helen Mahy |
351,883,608 |
99.88% |
407,091 |
0.12% |
448,957 |
|
5. To re-elect Jo Peacegood |
351,950,904 |
99.90% |
339,795 |
0.10% |
448,957 |
|
6. To re-elect Josephine Bush |
351,863,744 |
99.88% |
426,955 |
0.12% |
448,957 |
|
7. To elect Paul Le Page |
351,904,390 |
99.89% |
378,399 |
0.11% |
456,867 |
|
8. To elect Caroline Chan |
351,864,376 |
99.88% |
407,413 |
0.12% |
467,867 |
|
9. To re-appoint KPMG Channel Islands Limited as auditor to the Company |
351,849,104 |
99.87% |
441,184 |
0.13% |
449,368 |
|
10. To authorise the Directors to set the remuneration of the auditor |
352,136,766 |
99.94% |
213,743 |
0.06% |
389,147 |
|
Special Business - Special Resolutions |
|
|
|
|
|
|
11. To authorise the Directors to allot and issue ordinary shares (or sell treasury shares) in the Company |
348,769,462 |
99.25% |
2,651,468 |
0.75% |
1,318,726 |
|
12. To authorise the Directors to allot additional ordinary shares (or sell treasury shares) in the Company |
348,692,198 |
99.22% |
2,726,732 |
0.78% |
1,320,726 |
|
13. To authorise the Company to make market purchases of its own shares |
352,221,717 |
99.89% |
390,408 |
0.11% |
127,531 |
|
14. Discontinuation vote: That the Company ceases to continue in its present form. |
21,107,227 |
5.99% |
331,494,167 |
94.01% |
138,262 |
The full text of the resolutions may be found in the Notice of Annual General Meeting dated 12 July 2024, which is available on both the Company's website https://www.nextenergysolarfund.com/ and on the National Storage Mechanism ("NSM") 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 NSM and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism**.
* 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 websites) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this notification.
|
For further information:
NextEnergy Capital Michael Bonte-Friedheim |
020 3746 0700 ir@nextenergysolarfund.com |
|
Ross Grier |
|
|
Stephen Rosser |
|
|
Peter Hamid (Investor Relations)
|
|
|
RBC Capital Markets |
020 7653 4000 |
|
Matthew Coakes |
|
|
Elizabeth Evans Kathryn Deegan
|
|
|
Cavendish |
020 7397 1909 |
|
James King |
|
|
William Talkington
|
|
|
H/Advisors Maitland |
020 7379 5151 |
|
Neil Bennett |
|
|
Finlay Donaldson |
|
|
|
|
|
Ocorian Administration (Guernsey) Limited |
01481 742642 |
|
Kevin Smith |
|
Notes to Editors1:
About NextEnergy Solar Fund
NextEnergy Solar Fund is a specialist solar energy and energy storage investment company that is listed on the main market of the London Stock Exchange.
NextEnergy Solar Fund'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 utility-scale solar energy and energy storage infrastructure assets. The majority of NESF's long-term cash flows are inflation-linked via UK government subsidies.
As at 31 March 2024, the Company had an audited gross asset value of £1,155m. More information is available at www.nextenergysolarfund.com
Article 9 Fund
NextEnergy Solar Fund is classified under Article 9 of the EU Sustainable Finance Disclosure Regulation and EU Taxonomy Regulation. NextEnergy Solar Fund's sustainability-related disclosures in the financial services sector are in accordance with Regulation (EU) 2019/2088 and can be accessed on the ESG section of both the NextEnergy Solar Fund and NextEnergy Capital websites.
About NextEnergy Group
NextEnergy Solar Fund is managed by NextEnergy Capital, part of the NextEnergy Group. NextEnergy Group was founded in 2007 to become a leading market participant in the international solar sector. Since its inception, it has been active in the development, construction, and ownership of solar assets across multiple jurisdictions. NextEnergy Group operates via its three business units: NextEnergy Capital (Investment Management), WiseEnergy (Operating Asset Management), and Starlight (Asset Development).
· NextEnergy Capital: has over 17 years of specialist solar expertise having invested in over 460 individual solar plants across the world. NextEnergy Capital currently manages four institutional funds with a total capacity in excess of 3GW and has assets under management of $4.3bn. More information is available at www.nextenergycapital.com
· WiseEnergy®: is a leading specialist operating asset manager in the solar sector. Since its founding, WiseEnergy has provided solar asset management, monitoring and technical due diligence services to over 1,500 utility-scale solar power plants with an installed capacity in excess of 2.5GW. More information is available at www.wise-energy.com
· Starlight: has developed over 100 utility-scale projects internationally and continues to progress a large pipeline of c.10GW of both green and brownfield project developments across global geographies. More information is available at www.starlight-energy.com
Notes:
1: All financial data is audited at 31 March 2024, being the latest date in respect of which NextEnergy Solar Fund has published financial information
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