JLEN Environmental Assets Group Ltd Net Asset Value and Dividend (4682H)
04 Agosto 2021 - 1:00AM
UK Regulatory
TIDMJLEN
RNS Number : 4682H
JLEN Environmental Assets Group Ltd
04 August 2021
4 August 2021
JLEN ENVIRONMENTAL ASSETS GROUP LIMITED
("JLEN" or the "Company")
Net Asset Value and Dividend Announcement
Net Asset Value
JLEN, the listed environmental infrastructure fund, announces
that its unaudited Net Asset Value as at 30 June 2021 is
GBP577.1million (96.0 pence per share), an increase of 3.8 pence
per share since 31 March 2021. The increase is a reflection of an
upward revision of the power price forecasts and above forecast
inflation during the period, in addition to an accretive share
issuance in May 2021.
Portfolio update
For the quarter to 30 June 2021, generation for the solar
portfolio was above target, attributed to higher than average solar
irradiation early in the quarter.
The anaerobic digestion portfolio also performed ahead of
target, continuing its trend of out performance.
The wind portfolio performed below generation targets due to
poor wind resource in the UK over the quarter although the assets
experienced generally little downtime during the period.
Bio Collectors, a food waste fed processing plant, continues to
see lower levels of commercial food waste collections due to the
pandemic. However, feedstock levels have increased to higher levels
post the quarter end.
In aggregate, the renewables portfolio saw generation below
target. However, projects have benefited from increased revenue due
to high power prices over the quarter and many of the projects also
benefitted from a high level of fixed revenue over the short to
medium term.
Dividend
The Company also announces a quarterly interim dividend of 1.70
pence per share for the quarter ended 30 June 2021, in line with
the dividend target of 6.80p per share for the year to 31 March
2022, as set out in the 2021 Annual Report.
Dividend Timetable
Ex-dividend date 2 September 2021
Record date 3 September 2021
Payment date 24 September 2021
This announcement contains information that is inside
information for the purposes of the Market Abuse Regulation (EU)
No. 596/2014.
For further information, please contact:
Foresight Group
Chris Tanner
Chris Holmes +44(0)20 3667 8100
Winterflood Investment Trusts
Neil Langford
Chris Mills +44(0)20 3100 0000
SEC Newgate
Elisabeth Cowell
Megan Kovach +44(0)20 3757 6882
Praxis Fund Services
Matt Falla
Gemma Woods +44(0)1481 755530
About JLEN
JLEN's investment policy is to invest in a diversified portfolio
of Environmental Infrastructure. Environmental Infrastructure is
defined by the Company as infrastructure assets, projects and
asset-backed businesses that utilise natural or waste resources or
support more environmentally friendly approaches to economic
activity, support the transition to a low carbon economy, or which
mitigate the effects of climate change. Such investments will
typically feature one or more of the following characteristics:
-- long-term, predictable cash flows, which may be wholly or partially inflation-linked;
-- long-term contracts or stable and well-proven regulatory and legal frameworks; or
-- well-established technologies and demonstrable operational performance.
JLEN's aim is to provide investors with a sustainable,
progressive dividend per share, paid quarterly and to preserve the
capital value of the portfolio over the long term on a real basis.
The target dividend for the year to 31 March 2022 is 6.80(1) pence
per share. The dividend is payable quarterly.
Further details of the Company can be found on its website
www.jlen.com .
LEI: 213800JWJN54TFBMBI68
((1) These are targets only and not profit forecasts. There can
be no assurance that these targets will be met or that the Company
will make any distributions at all.
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END
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