TIDMJLEN
RNS Number : 4534Y
JLEN Environmental Assets Group Ltd
13 May 2021
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA.
13 May 2021
JLEN Environmental Assets Group Limited
Result of Placing
The Board of JLEN Environmental Assets Group Limited ("JLEN" or
the "Company") is pleased to announce that the Company has raised
GBP56.9 million pursuant to the placing (the "Placing") announced
on 4 May 2021 (the "Placing Announcement"). Accordingly, the
Company will issue a total of 54,672,002 New Ordinary Shares at the
placing price, which has been set at 104 pence per New Ordinary
Share.
The Placing was oversubscribed and, as a result, applications
have been scaled back in line with the terms and conditions of the
Placing set out in the Placing Announcement. Any Placing
applications at a price below the Issue Price have not been
accepted.
JLEN intends to use the net proceeds of the Placing to pay down
amounts outstanding under its revolving credit facility in order to
create more funding headroom to meet existing commitments and an
identified pipeline of near term opportunities, including further
investments into operational bio-energy assets and battery storage
opportunities.
Applications have been made to the Financial Conduct Authority
for admission of the New Ordinary Shares to the premium segment of
the Official List and to the London Stock Exchange for admission to
trading of the New Ordinary Shares on its main market for listed
securities ("Admission"). It is expected that Admission will become
effective at or around 8.00 a.m. on 17 May 2021 and that dealings
in the New Ordinary Shares will commence at that time.
The New Ordinary Shares will, when issued, be credited as fully
paid and rank pari passu with the existing Ordinary Shares in the
capital of the Company, including the right to receive all future
dividends and distributions declared, made or paid, including the
dividend for the quarter to 31 March 2021.
Immediately following Admission, the Company's issued share
capital will consist of 601,392,027 Ordinary Shares with voting
rights. This figure may be used by shareholders in determining the
denominator for the calculation by which they will establish if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
The Placing is conditional, among other things, on Admission
being effective and the Placing Agreement not being terminated in
accordance with its terms.
Terms used in this announcement shall, unless the context
otherwise requires, bear the meanings given to them in the Placing
Announcement, which can be found on JLEN's website at
www.jlen.com.
For further information please contact:
Foresight Group
Chris Tann er
Chris Holmes +44(0)20 3667 8100
Winterflood Securities Limited
Neil Langford
Chris Mills +44(0)20 3100 0000
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 cash flows;
-- 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.
(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.
LEI: 213800JWJN54TFBMBI68
Important Information
This announcement contains information that is inside
information.
Winterflood, which is authorised and regulated by the Financial
Conduct Authority, is acting only for the Company in connection
with the matters described in this announcement and is not acting
for or advising any other person, or treating any other person as
its client, in relation thereto and will not be responsible for
providing the regulatory protection afforded to clients of
Winterflood or advice to any other person in relation to the
matters contained herein.
The shares of the Company have not been, nor will they be,
registered under the US Securities Act of 1933, as amended, or with
any securities regulatory authority of any state or other
jurisdiction of the United States or under the applicable
securities laws of Australia, Canada, Japan, New Zealand or South
Africa. Further, the Company has not been and will not be
registered under the US Investment Company Act of 1940, as amended.
Subject to certain exceptions, the shares of the Company may not be
offered or sold in any member state of the EU other than the United
Kingdom, the United States of America, Canada, Australia, Japan,
New Zealand or South Africa or to or for the account or benefit of
any national, resident or citizen of any member state of the EU
other than the United Kingdom, Canada, Australia, Japan, New
Zealand or South Africa or any person located in the United States.
The Placing and the distribution of this announcement in other
jurisdictions may be restricted by law and the persons into whose
possession this announcement comes should inform themselves about,
and observe, any such restrictions.
This announcement may include "forward-looking statements". All
statements other than statements of historical facts included in
this announcement, including, without limitation, those regarding
the Company's financial position, strategy, plans, proposed
acquisitions and objectives are forward-looking statements.
Forward-looking statements are subject to risks and
uncertainties and accordingly the Company's actual future financial
results and operational performance may differ materially from the
results and performance expressed in, or implied by, the
statements. These forward-looking statements speak only as at the
date of this announcement. The Company, the Investment Adviser and
Winterflood expressly disclaim any obligation or undertaking to
update or revise any forward-looking statements contained herein to
reflect actual results or any change in the assumptions, conditions
or circumstances on which any such statements are based unless
required to do so by the Financial Services and Markets Act 2000,
the Prospectus Regulation Rules of the Financial Conduct Authority
or other applicable laws, regulations or rules.
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END
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May 13, 2021 02:00 ET (06:00 GMT)
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