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LONDON - Gore Street Energy Storage Fund plc announced Wednesday that all four resolutions proposed at its requisitioned General Meeting were rejected by shareholders, with approximately 70% of votes cast against the proposed board changes.
The failed resolutions included the appointment of Brett Miller and Ian Dixon to the board, as well as the removal of current Chair Pat Cox and board member Caroline Banszky. While the majority of shareholders voted in line with the board’s recommendations, a significant minority of approximately 30% supported the proposed changes.
The meeting, held at Stephenson Harwood LLP’s London offices, saw participation from shareholders representing about 62% of the company’s issued share capital.
Following the vote, the board acknowledged shareholder feedback received during recent engagements and outlined plans for board refreshment, with the first new appointment expected imminently and another planned for 2026.
Patrick Cox, Chair of the Company, expressed gratitude for shareholder support and stated that the board would now focus on its outlined strategy, including "sale or co-investment for the Company’s c.495MW of preconstruction assets, increasing the duration of key GB and Irish assets, increasing revenue through propriety revenue optimisation models, as well as seeking further cost reduction."
The board also committed to maintaining dialogue with shareholders and plans to conduct another formal engagement in approximately six months to update on progress.
Gore Street Energy Storage Fund has 505,099,478 ordinary shares in issue, each carrying one voting right.
The announcement was made via a regulatory news service based on information provided in a company press release.
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