Last checked at 
8 Aug 2019 12:15
8 August 2019
NextEnergy Solar Fund Limited
Results of Annual General Meeting
The Board of NextEnergy Solar Fund Limited announces that, at the Annual General Meeting of the Company held today, 8 August 2019, all resolutions put to the meeting were approved by shareholders.
Ordinary Business - Ordinary Resolutions | For* | Against | Withheld** |
1. To receive and adopt the Financial Statements of the Company for the year ended 31 March 2019 | 385,989,588 | 62,619 | 1,000 |
2. To approve the Directors' Remuneration Report for the year ended 31 March 2019 | 386,046,674 | 6,534 | 0 |
3. To approve the Company's dividend policy | 386,053,208 | 0 | 0 |
4. To re-elect Kevin Lyon | 386,051,258 | 1,000 | 950 |
5. To re-elect Patrick Firth | 385,988,638 | 63,619 | 950 |
6. To re-elect Vic Holmes | 385,988,638 | 63,619 | 950 |
7. To re-elect Sharon Parr | 386,051,258 | 1,000 | 950 |
8. To elect Sue Inglis | 384,539,321 | 1,508,866 | 950 |
9. To re-appoint PricewaterhouseCoopers CI LLP as Auditor to the Company | 384,535,576 | 5,815 | 1,511,816 |
10. To authorise the Directors to agree the remuneration for the Auditor | 385,855,786 | 195,472 | 1,950 |
Special Business - Special Resolutions |
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11. To authorise the Directors to allot ordinary shares in the Company | 335,813,946 | 50,233,496 | 5,765 |
12. To authorise the Company to make market purchases of its own shares | 386,046,431 | 4,000 | 2,777 |
13. To approve the amended Articles of Incorporation | 386,043,443 | 1,000 | 8,765 |
14. To authorise the Directors to allot preference shares in the Company | 371,098,771 | 14,948,671 | 5,765 |
The full text of the resolutions may be found in the Notice of Annual General Meeting dated 9 July 2019, which is available on both the Company's website www.nextenergysolarfund.com and on the National Storage Mechanism www.morningstar.co.uk/uk/NSM***. Details of the proxy votes lodged before the meeting will also be available shortly on the Company's website
A copy of the Special Resolutions passed at the Annual General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM***
* Includes discretionary votes received
** A vote withheld is not a vote in law and is not counted in the proportion of votes 'for' or 'against' a resolution
*** Neither the NSM website nor the Company's website nor the content of any website accessible from hyperlinks on those websites (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement
For further information, please contact:
NextEnergy Capital Limited |
020 3746 0700 |
Michael Bonte-Friedheim |
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Aldo Beolchini |
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Cantor Fitzgerald Europe | 020 7894 7719 |
Robert Peel
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Shore Capital | 020 7408 4090 |
Anita Ghanekar |
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Macquarie Capital (Europe) Limited | 020 3037 2000 |
Nick Stamp |
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MHP Communications | 020 3128 8100 |
Oliver Hughes | |
Apex Fund and Corporate Services (Guernsey) Limited | 01481 735827 |
Nicholas Robilliard | |
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Notes to Editors:
NESF is a specialist investment company that invests primarily in operating solar power plants in the UK. It is able to invest up to 15% of its Gross Asset Value in operating solar power plants in OECD countries outside the UK. The Company's objective is to secure attractive shareholder returns through RPI-linked dividends and long-term capital growth. The Company achieves this by acquiring solar power plants on agricultural, industrial and commercial sites.
As at 31 March 2019, NESF has raised equity proceeds of £692m (including £100m of preference shares) since its initial public offering on the main market of the London Stock Exchange in April 2014. The Company's subsidiaries have financial debt outstanding of £269m, on a look-through basis and including at project level. Of this, £199m was long-term fully amortising financing, and £70m was drawn under a short-term credit facility.
NESF is differentiated by its access to NextEnergy Capital Group ("NEC Group"), its Investment Manager, which has a strong track record in sourcing, acquiring and managing operating solar assets. WiseEnergy is NEC Group's specialist operating asset management division and over the course of its activities has provided operating asset management, monitoring, technical due diligence and other services to over 1,300 utility-scale solar power plants with an installed capacity in excess of 1.9 GW.
Further information on NESF, NEC Group and WiseEnergy is available at nextenergysolarfund.com, nextenergycapital.com and wise-energy.eu.