Gresham House Energy Storage Fund Dividend Declaration (2869S)
15 November 2021 - 06:00PM
UK Regulatory
TIDMGRID
RNS Number : 2869S
Gresham House Energy Storage Fund
15 November 2021
15 November 2021
GRESHAM HOUSE ENERGY STORAGE FUND PLC
("GRID" or the "Company")
Declaration of Dividend
Gresham House Energy Storage Fund PLC (LSE: GRID) is pleased to
announce a dividend of 1.75p per Ordinary Share for the period from
1 July 2021 to 30 September 2021. The dividend will be paid on 17
December 2021 to Shareholders on the register as at the close of
business on 26 November 2021. The ex-dividend date is 25 November
2021.
Any such dividend payment to Shareholders may take the form of
either dividend income or "qualifying interest income" which may be
designated as an interest distribution for UK tax purposes and
therefore subject to the interest streaming regime applicable to
investment trusts. Of this dividend declared of 1.75 pence per
Ordinary Share, 0.75 pence is declared as dividend income with 1.00
pence treated as qualifying interest income.
For further information, please contact:
Gresham House New Energy
Ben Guest +44 (0) 20 3837 6270
Jefferies International Limited
Stuart Klein +44 (0) 20 7029 8000
Gaudi Le Roux +44 (0) 20 7029 8000
Neil Winward +44 (0) 20 7029 8000
KL Communications gh@kl-communications.com
Charles Gorman +44 (0) 20 3995 6699
Camilla Esmund
Alex Hogan
JTC (UK) Limited as Company GHEnergyStorageCoSec@jtcgroup.com
Secretary +44 207 409 0181
Christopher Gibbons
About the Company and the Manager:
Gresham House Energy Storage Fund plc seeks to provide investors
with an attractive and sustainable dividend over the long term by
investing in a diversified portfolio of utility-scale battery
energy storage systems (known as BESS) located in Great Britain,
Northern Ireland and the Republic of Ireland. In addition, the
Company seeks to provide investors with the prospect of capital
growth through the re-investment of net cash generated in excess of
the target dividend in accordance with the Company's investment
policy.
The Company will target dividend payments of 7.0p per Ordinary
Share in the financial year ending 31 December 2021 and in
financial periods thereafter. The Company targets an unlevered Net
Asset Value total return of 8% per annum, calculated net of the
Company's costs and expenses. Once certain further asset management
activities are completed and leverage is introduced to the
Portfolio, the Company targets a levered Net Asset Value total
return of 15% per annum, calculated net of the Company's costs and
expenses*.
Gresham House Asset Management is the FCA authorised operating
business of Gresham House plc, a London Stock Exchange quoted
specialist alternative asset manager. Gresham House is committed to
operating responsibly and sustainably, taking the long view in
delivering sustainable investment solutions.
www.greshamhouse.com
Definition of utility-scale battery energy storage systems
(BESS)
Utility-scale battery energy storage systems (BESS) are the
enabling infrastructure that will support the continued growth of
renewable energy sources such as wind and solar, essential to the
UK's stated target to reduce carbon emissions. They store excess
energy generated by renewable energy sources and then release that
stored energy back into the grid during peak hours when there is
increased demand.
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END
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