Gore Street Energy Storage Fund PLC NAV and Dividend Declaration (9069K)
07 September 2021 - 4:00PM
UK Regulatory
TIDMGSF
RNS Number : 9069K
Gore Street Energy Storage Fund PLC
07 September 2021
07 September 2021
Gore Street Energy Storage Fund plc
(the "Company" or "Gore Street")
Uplift in Unaudited Quarterly
NAV and Dividend Declaration
Gore Street, London's first energy storage fund supporting the
transition to low carbon power, is pleased to announce the
Company's unaudited Net Asset Value ("NAV") for the quarter.
NAV Update
As at 30 June 2021, the estimated unaudited NAV was 101.0 pence
per share, representing an uplift of 0.1 pence per share from the
NAV as at 31 March 2021 (100.9). NAV during the period benefitted
from the strong performance of the Company's UK and Irish assets
over the quarter. The NAV also reflects the significant equity
raise in April which had an issuance price of 99.8 pence after
expenses. The Company notes that following best practice, during
unaudited quarters, no updates are made to any long-term
assumptions in relation to portfolio Companies' valuations.
Dividend Declaration
In addition, the Board of Directors (the "Board") of Gore Street
has today declared an interim dividend of 2.0 pence per ordinary
share for the period 1 April 2021 to 30 June 2021. The ex-dividend
date will be 16 September 2021 and the record date 17 September
2021. The dividend will be paid on or around 8 October 2021.
Over the last fiscal-year ending 31 March 2021, the Company's
NAV appreciated from 94.6 pence per share to 100.9 pence per share,
an increase of 6.3 pence per share (+6.7%). Over this same period,
the Company has announced 7.0 pence per share in dividends.
The Legal Entity Identifier of the Company is
213800GPUNVGG81G4O21.
For further information:
Gore Street Capital Limited
Alex O'Cinneide / Paula Travesso Tel: +44 (0) 20 3826 0290
Shore Capital (Joint Corporate Broker)
Anita Ghanekar / Rose Ramsden (Corporate Advisory) Tel: +44 (0) 20 7408 4090
Henry Willcocks / Fiona Conroy (Corporate Broking)
J. P. Morgan Cazenove (Joint Corporate Broker)
William Simmonds / Jérémie Birnbaum Tel: +44 (0) 20 7742
(Corporate Finance) 4000
Media enquiries
Buchanan
Charles Ryland / Henry Wilson / George Beale 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.
The Company targets an annual dividend of 7.0% of NAV per
Ordinary Share in each financial year, subject to a minimum target
of 7.0 pence per Ordinary Share. Dividends are paid quarterly.
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END
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