TIDMGSF

RNS Number : 0511A

Gore Street Energy Storage Fund PLC

21 September 2022

21 September 2022

Gore Street Energy Storage Fund plc

(the "Company" or "GSF")

Quarterly Update and Dividend Declaration

GSF, London's first energy storage fund supporting the transition to low carbon power, is pleased to announce its unaudited Net Asset Value ("NAV") for the quarter ended 30 June 2022.

NAV Update

As at 30 June 2022, the estimated unaudited NAV was 108.7 pence per share, representing an uplift of 1.6 pence per share (1.45%) from the adjusted NAV [1] as at 31 March 2022 (107.1 pence per share).

The Company's NAV during the period benefitted from closing the acquisition of four 10MW assets in Texas (ERCOT) along with strong performance across the operational assets in Germany and Great Britain. The construction assets in the portfolio continued to track spend in line with the budget.

During unaudited quarters, no updates are made to any long-term assumptions in relation to portfolio companies' valuations.

Dividend Declaration

In addition, the Company's Board of Directors has declared an interim dividend of 2.0 pence per ordinary share for the period 1 April 2022 to 30 June 2022. The ex-dividend date will be 29 September 2022 and the record date 30 September 2022. The dividend will be paid on or around 21 October 2022.

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 /           Tel: +44 (0) 20 7408 4090 
  Iain Sexton (Corporate Advisory) 
 Fiona Conroy (Corporate Broking) 
 J.P. Morgan Cazenove (Joint Corporate 
  Broker) 
 William Simmonds / Jérémie      Tel: +44 (0) 20 7742 4000 
  Birnbaum (Corporate Finance) 
 Buchanan (Media Enquiries) 
 Charles Ryland / Henry Wilson /           Tel: +44 (0) 20 7466 5000 
  George Beale 
                                           Email: gorestreet@buchanan.uk.com

[1] This 107.1 NAV/share is the NAV/share adjusted from the reported NAV of GBP376.5m by the GBP6.9m dividends declared during the quarter, paid in April.

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September 21, 2022 02:02 ET (06:02 GMT)

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