24 May 2023
US SOLAR FUND PLC (USF, the "Company")
Result of 2023 Annual General Meeting
US Solar Fund plc (LON: USF (USD)/USFP (GBP)), announces that at the Company's 2023 Annual General Meeting held today, all resolutions were passed by way of a poll and the results of the poll are set out below.
Resolutions 1 to 10 (inclusive) were proposed as ordinary resolutions and resolutions 11 and 12 were proposed as special resolutions.
| | Resolution | Votes For* | % | Votes Against | % | Total votes validly cast | Total votes cast as % of issued share capital | Vote Withheld ** |
| 1 | Receive annual accounts for period ended 31 December 2022 | 211,568,079 | 99.99% | 21,387 | 0.01% | 211,589,466 | 63.69% | 119,788 |
| 2 | Approve directors' remuneration report | 211,438,456 | 99.93% | 139,995 | 0.07% | 211,578,451 | 63.69% | 130,803 |
| 3 | Approve directors' remuneration policy | 211,432,716 | 99.93% | 149,898 | 0.07% | 211,582,614 | 63.69% | 126,640 |
| 4 | Appointment of external auditor | 211,508,760 | 99.95% | 115,398 | 0.05% | 211,624,158 | 63.71% | 85,096 |
| 5 | Authorise the Directors to fix the auditor's remuneration | 211,564,529 | 99.99% | 24,937 | 0.01% | 211,589,466 | 63.69% | 119,788 |
| 6 | Re-elect Gillian Nott as a director | 156,026,586 | 83.71% | 30,371,991 | 16.29% | 186,398,577 | 56.11% | 25,310,677 |
| 7 | Re-elect Jamie Richards as a director | 157,648,526 | 99.95% | 81,481 | 0.05% | 157,730,007 | 47.48% | 53,979,247 |
| 8 | Re-elect Rachael Nutter as a director | 156,442,428 | 99.18% | 1,287,579 | 0.82% | 157,730,007 | 47.48% | 53,979,247 |
| 9 | Re-elect Thomas Plagemann as a director | 157,648,526 | 99.95% | 81,481 | 0.05% | 157,730,007 | 47.48% | 53,979,247 |
| 10 | Approval of dividend policy | 211,566,692 | 99.99% | 21,387 | 0.01% | 211,588,079 | 63.69% | 121,175 |
| 11 | To authorise the Company to make market purchase of its own ordinary shares | 211,520,067 | 99.97% | 61,587 | 0.03% | 211,581,654 | 63.69% | 127,600 |
| 12 | To permit general meetings to be called on 14 days' notice | 211,485,207 | 99.95% | 104,259 | 0.05% | 211,589,466 | 63.69% | 119,788 |
* Includes discretionary votes
** A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.
For further information, please contact:
| US Solar Fund Whitney Voûte
| +1 718 230 4329 |
| Cenkos Securities plc Will Rogers Rob Naylor Will Talkington
| +44 20 7397 8900 |
| KL Communications | +44 20 3995 6673 |
| Charles Gorman Charlotte Stickings | |
Notes:
Every shareholder has one vote for every Ordinary Share held. As at close of business on 22 May 2022, the share capital of the Company consisted of 332,192,361 Ordinary Shares with voting rights. The Company does not hold any shares in Treasury.
In accordance with Listing Rule 9.6.2 copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
About US Solar Fund plc
US Solar Fund plc listed on the premium segment of the London Stock Exchange in April 2019, following its successful US$200m IPO. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by investing in a diversified portfolio of solar power assets in North America and other OECD countries in the Americas.
The Company acquires or constructs, owns and operates solar power assets that are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs).
Further information on the Company can be found on its website at http://www.ussolarfund.co.uk.
About the Investment Manager
USF is managed by New Energy Solar Manager (NESM). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund. NESM has committed over US$1.3bn across US and Australian solar plants.
NESM is owned by E&P Funds, the funds management division of E&P Financial Group, an ASX listed company (ASX: EP1) with over A$20 billion of funds under advice.
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