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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September 11, 2020 07:13 ET (11:13 GMT)

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