Company Announcements

Result of AGM

Source: RNS
RNS Number : 1401A
NextEnergy Solar Fund Limited
12 August 2024
 

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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