TIDMGSF
RNS Number : 9707B
Gore Street Energy Storage Fund PLC
05 February 2020
THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED IN IT, IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE
SAME WOULD BE UNLAWFUL OR RESTRICTED BY LAW.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE
REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN.
UNLESS THE CONTEXT REQUIRES OTHERWISE, WORDS AND EXPRESSIONS
DEFINED IN THE PROSPECTUS published BY THE COMPANY ON 16 JULY 2019
HAVE THE SAME MEANINGS WHEN USED IN THIS ANNOUNCEMENT.
5 February 2020
Gore Street Energy Storage Fund plc
(the "Company" or "Gore Street")
Results of Placing
Key highlights:
-- 3,615,986 new Ordinary Shares will be issued at 95.5p per
Ordinary Share, raising gross proceeds of GBP3.5 million.
-- Net proceeds will be used to fund investment opportunities
from the Investment Adviser's considerable pipeline of energy
storage projects in the UK and internationally, in accordance with
the Company's investment policy and return profile.
-- Admission is expected to become effective at 8:00 a.m. on 11 February 2020.
Further to the announcement on 4 February 2020, the Company is
pleased to announce the result of the placing of new Ordinary
Shares pursuant to the Placing Programme (the "Placing").
A total of 3,615,986 new Ordinary Shares will be issued pursuant
to the Placing at 95.5p per share. The net proceeds of the Placing
will be used to fund investments in accordance with the Company's
investment policy.
Applications have been made to the FCA for the 3,615,986 new
Ordinary Shares to be admitted to the premium segment of the
Official List and to the London Stock Exchange for the new Ordinary
Shares to be admitted to trading on its main market for listed
securities. Admission is expected to become effective, and dealings
in the new Ordinary Shares are expected to commence, at 8.00 a.m.
on 11 February 2020. Following Admission, the new Ordinary Shares
will rank pari passu in all respects with the existing Ordinary
Shares.
On Admission, the Company's issued share capital will comprise
52,548,815 Ordinary Shares, none of which will be held in treasury.
Each Ordinary Share carries the right to one vote and, therefore,
the total number of voting rights in the Company on Admission will
be 52,548,815. This figure may be used by Shareholders and other
investors as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Commenting on the Placing, Alex O'Cinneide, CEO of Gore Street
Capital, the Company's investment manager said:
"We are delighted to have had inbound interest from significant
institutions with strong ESG mandates. We remain fully focused on
being a critical part of the transition to a low carbon economy and
these shareholders will help us achieve this more rapidly.
The Company's large and growing portfolio has been developed
since IPO with best in class capital efficiency and we maintain a
fully committed position. We thank both our existing shareholders
and our new investors for their support of the Company and its
strategy. We look forward to providing an update in the near term
as we continue to build on our market leading energy storage
position and pursue the attractive investment opportunities in our
considerable pipeline to deliver Shareholder returns".
The Legal Entity Identifier of the Company is
213800GPUNVGG81G4O21.
For further information:
Gore Street Capital Limited
Alex O'Cinneide Tel: +44 (0) 20 3826 0290
Shore Capital
Anita Ghanekar / Hugo Masefield (Corporate Advisory) Tel: +44 (0) 20 7601 6128
Henry Willcocks / Fiona Conroy (Corporate Broking)
Media enquiries
Buchanan
Charles Ryland / Steph Watson / Henry Wilson Tel: +44 (0) 20 7466 5000
Email: Gorestreet@buchanan.uk.com
JTC (UK) Limited, Company Secretary Tel: +44 (0) 20 7409 0181
Notes to Editors
About Gore Street Energy Storage Fund plc
Gore Street is London's first listed energy storage fund and
seeks to provide Shareholders with a significant opportunity to
invest in a diversified portfolio of utility scale energy storage
projects. In addition to growth through exploiting its considerable
pipeline, the Company aims to deliver consistent and robust
dividend yield as income distributions to its Shareholders.
Important Notices and Disclaimers
Shore Capital and Corporate Limited ("Shore Capital") is
authorised and regulated in the United Kingdom by the FCA and
acting only for the Company in connection with the Placing, the
Placing Programme and Admission. Persons receiving this
announcement should note that Shore Capital will not be responsible
to anyone other than the Company for providing the protections
afforded to customers of Shore Capital, or for advising any other
person on the matters described in this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ROITIMRTMTAMBJM
(END) Dow Jones Newswires
February 05, 2020 02:00 ET (07:00 GMT)
Gore Street Energy Storage (LSE:GSF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gore Street Energy Storage (LSE:GSF)
Historical Stock Chart
From Jul 2023 to Jul 2024