Business
Circular & Notice of Requisitioned General Meeting
Circular & Notice of Requisitioned General Meeting.
About this update from Gore Street Energy Storage Fund Plc
[{"type":"text","content":"\n\n30 July 2025\nGore Street Energy Storage Fund plc\n(the \"Company\" or \"GSF\")\nNotice of Requisitioned General Meeting and Unanimous Board Recommendation to VOTE AGAINST ALL Requisitioned Resolutions\nWebinar Today\nThe Board of Gore Street Energy Storage Fund plc announces that it has today published a circular (the \"Circular\") setting out in full its unanimous recommendation to vote against all the Requisitioned Resolutions, and details of the Company's response to the letters and accompanying notices dated 16 July 2025 from RM Funds.\nFor the reasons set out below, your Board unanimously recommends that you VOTE AGAINST ALL the Resolutions that RM Funds has proposed and urges you to vote your Shares.\n- The Company is delivering on its investment mandate. It now has broadened the commercial operation of its full 924.1 MWh portfolio, which is more than doubling its cash-generating assets during 2025, across five diversified markets.\n- The Company has a positive outlook, with a strategic plan to increase revenue from existing assets being executed by a strong and independent Board. In the 12 months to 30 June 2025 share price total return was 12.2[1] per cent., with further value creation anticipated.\n- The Board believes that RM Funds' activist intentions are self-serving and that RM Funds' interests are not aligned with the interests of all Shareholders.\n- Your Board has positioned the Company well for sustainable long-term value creation, and this would be at risk of being derailed by an activist investor via its nominees. One of RM Funds' proposed nominees is an individual known for joining boards of investment companies to restructure and start a managed run-off of portfolios.\n- An independent Board is critical in representing the interests of all Shareholders, and not the interests of one particular Shareholder. The Board is concerned that RM Funds' selected nominees may not act completely independently of RM Funds.\n- The Board has today announced separately, that it is implementing a clear and detailed strategy to enhance shareholder value and designed to close...