TIDMNESF
RNS Number : 7819Y
NextEnergy Solar Fund Limited
11 September 2020
LEI: 213800ZPHCBDDSQH5447
11 September 2020
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Results of Annual General Meeting
The Board of NextEnergy Solar Fund Limited announces that, at
the Annual General Meeting of the Company held today, 11 September
2020, all resolutions put to the meeting were approved by
shareholders.
Ordinary Business - Ordinary Resolutions For* Against Withheld**
1. To receive and adopt the Financial
Statements of the Company for the year
ended 31 March 2020 456,995,597 9,136 3,000
------------------------- -------------------------------- -----------
2. To approve the Directors' remuneration
report for the year ended 31 March 2020 456,927,500 31,077 49,156
------------------------- -------------------------------- -----------
3. To approve the Directors' remuneration
policy for the three-year period to
31 March 2023 456,926,676 31,901 49,156
------------------------- -------------------------------- -----------
4. To approve the Company's dividend
policy 456,995,597 - 12,136
------------------------- -------------------------------- -----------
5. To re-elect Kevin Lyon 456,989,211 12,960 5,562
------------------------- -------------------------------- -----------
6. To re-elect Patrick Firth 456,989,211 12,960 5,562
------------------------- -------------------------------- -----------
7. To re-elect Vic Holmes 456,989,211 12,960 5,562
------------------------- -------------------------------- -----------
8. To re-elect Sue Inglis 456,989,211 12,960 5,562
------------------------- -------------------------------- -----------
9. To elect Jo Peacegood 456,989,211 12,960 5,562
------------------------- -------------------------------- -----------
10. To re-appoint KPMG Channel Islands
Limited as auditors to the Company 456,971,556 33,177 3,000
------------------------- -------------------------------- -----------
11. To authorise the Directors to set
the remuneration of the auditor 456,799,399 205,334 3,000
------------------------- -------------------------------- -----------
12. To offer shareholders the right
to elect to receive new Ordinary Shares
credited as fully paid, instead of cash,
in respect of any dividend declared
or paid in the period prior to the
conclusion
of the annual general meeting of the
Company to be held in 2023. 457,001,250 6,483 -
------------------------- -------------------------------- -----------
Special Business - Special Resolutions
------------------------- -------------------------------- -----------
13. To authorise the Directors to allot
ordinary shares in the Company 435,422,227 21,582,425 3,081
------------------------- -------------------------------- -----------
14. To authorise the Directors to allot
additional ordinary shares in the Company 390,341,182 66,663,469 3,081
------------------------- -------------------------------- -----------
15. To authorise the Company to make
market purchases of its own shares 455,122,776 1,861,043 23,913
------------------------- -------------------------------- -----------
16. To approve the amended Articles
of Incorporation 456,962,435 8,541 36,757
------------------------- -------------------------------- -----------
Special Business - Ordinary Resolution
------------------------- -------------------------------- -----------
17. To approve the proposed changes
to the Company's investment policy 389,768,293 67,230,161 9,279
------------------------- -------------------------------- -----------
The full text of the resolutions may be found in the Notice of
Annual General Meeting dated 19 August 2020, which is available on
both the Company's website nextenergysolarfund.com and on the
National Storage Mechanism morningstar.co.uk/uk/NSM *** . 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 National Storage Mechanism and
will shortly be available for inspection at
www.morningstar.co.uk/uk/NSM *** .
* Includes discretionary votes received
** 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 website) is (or is deemed to be) incorporated into,
or forms (or is deemed to form) part of this announcement
For further information:
NextEnergy Capital Limited 020 3746 0700
Michael Bonte-Friedheim
Aldo Beolchini
Cenkos Securities Plc 020 7397 8900
Justin Zawoda-Martin
Robert Naylor
William Talkington
Shore Capital 020 7408 4090
Anita Ghanekar
Darren Vickers
MHP Communications 020 3128 8734
Oliver Hughes
Giles Robinson
Ailsa Prestige
Apex Fund and Corporate Services
(Guernsey) Limited 01481 735 827
Nick Robilliard
Notes to Editors [i]:
A constituent of the FTSE 250 Index, NextEnergy Solar Fund
("NESF") is a renewable energy infrastructure investment company
that invests primarily in operating solar power plants in the UK
(it may invest up to 15% of its gross assets in other OECD
countries). The Company is committed to ESG principles and
responsible investment and makes a meaningful contribution to
reducing C O2e emissions through the generation of clean solar
power. NESF has been designated a Guernsey Green Fund by the
Guernsey Financial Services Commission and has been awarded the
London Stock Exchange's Green Economy Mark.
NESF has a diversified portfolio comprising 90 operating solar
assets, primarily on agricultural, industrial and commercial sites,
with a combined installed power capacity in excess of c.755MW. As
at 30 June 2020, the Company has gross assets of GBP987 million, of
which 88% is invested in the UK, and net assets of GBP576 million.
The majority of long-term cash flows from its investments are
inflation-linked.
NESF'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
primarily UK-based solar energy infrastructure assets. The dividend
is payable quarterly, and the Company has announced a dividend
target for the year ending 31 March 2021 of 7.05p per ordinary
share.
NESF is differentiated by its access to NextEnergy Capital Group
("NEC Group"), its Investment Manager, which has a strong track
record in sourcing, acquiring and managing operating solar assets.
WiseEnergy is NEC Group's specialist operating asset management
division, which since its founding has provided operating asset
management, monitoring, technical due diligence and other services
to over 1,500 utility-scale solar power plants with an installed
capacity in excess of 1.7 GW.
Further information on NESF, NEC Group and WiseEnergy is
available at nextenergysolarfund.com , nextenergycapital.com and
wise-energy.eu .
[1] Note: All data is as at 30 June 2020, being the latest date
in respect of which NESF has published financial information.
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