John Laing Environmental Assets Grp Result of AGM & Change of Company Name (0885J)

TIDMJLEN

RNS Number : 0885J

John Laing Environmental Assets Grp

14 August 2019

14 August 2019

JLEN Environmental Assets Group Limited

(formerly John Laing Environmental Assets Group Limited)

Results of AGM & Change of Company Name

JLEN Environmental Assets Group Limited ("JLEN" or the "Company") is pleased to announce that at the Annual General Meeting ("AGM") held at 10:00 a.m. today, 14 August 2019, each of the Resolutions was duly passed without amendment.

Effective immediately, the name of the Company has changed to JLEN Environmental Assets Group Limited.

In accordance with LR 9.6.18, details of the results of those resolutions proposed at the AGM, which were not ordinary business of the AGM, follow:

 
Resolution      For (including discretionary)  Against     Withheld* 
10 - Ordinary   260,076,372                    224,135     6,209,260 
11 - Ordinary   229,503,336                    30,772,774  6,233,657 
12 - Special    260,036,343                    233,614     6,239,810 
13 - Special    259,965,339                    291,140     6,253,288 
14 - Special    260,052,916                    231,726     6,225,125 
 

*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.

The full wording of these resolutions can be found below:-

Resolution 10 - Ordinary Resolution

THAT the interim dividend of 1.6275 pence per Ordinary Share in respect of the period 1 April 2018 to 30 June 2018, the interim dividend of 1. 6275 pence per Ordinary Share in respect of the period 1 July 2018 to 30 September 2018, the interim dividend of 1. 6275 pence per Ordinary Share in respect of the period 1 October 2018 to 31 December 2018 and the interim dividend of 1. 6275 pence per Ordinary Share in respect of the period 1 January 2019 to 31 March 2019 declared by the Company be approved.

Resolution 11 - Ordinary Resolution

THAT, in accordance with Article 45 of the Articles of Incorporation of the Company (the "Articles"), the Board may, in respect of dividends declared for any financial period or periods of the Company ending prior to the annual general meeting of the Company to be held in 2020, offer shareholders the right to elect to receive further shares, credited as fully paid, in respect of all or any part of such dividend or dividends declared in respect of any such period or periods.

Resolution 12 - Special Resolution

THAT the Company be and is hereby generally and unconditionally authorised in accordance with Section 315 of The Companies (Guernsey) Law, 2008 (as amended) (the "Law") (subject to the UK Listing Rules and all other applicable legislation and regulations) to make market acquisitions (as defined in the Law) of its Ordinary Shares in issue, provided that:-

a. the maximum number of Ordinary Shares hereby authorised to be purchased is 14.99 per cent. per annum of the Ordinary Shares in issue immediately following the passing of this resolution;

   b.    the minimum price (exclusive of expenses) which may be paid for an Ordinary Share is 1 pence; 

c. the maximum price (exclusive of expenses) which may be paid for an Ordinary Share shall be not more than the higher of (i) 5 per cent. above the average market value for the five business days prior to the day the purchase is made and (ii) the higher of the price of the last independent trade and the highest independent bid at the time of the purchase for any number of the Ordinary Shares on the trading venues where the purchase is carried out;

d. the authority hereby conferred shall expire at the conclusion of the next annual general meeting of the Company held in 2020 or 18 months from the date of this resolution, whichever is the earlier, unless such authority is varied, revoked or renewed prior to such time;

e. the Company may make a contract to purchase Ordinary Shares under the authority hereby conferred prior to the expiry of such authority which will or may be executed wholly or partly after the expiration of such authority and may make an acquisition of Ordinary Shares pursuant to any such contract; and

f. any Ordinary Share bought back may be held in treasury in accordance with the Law or be subsequently cancelled by the Company.

Resolution 13 - Special Resolution

THAT pursuant to Article 7.7 of the Articles, the provisions of Article 7.2 of the Articles shall not apply and shall be excluded in relation to the issue of up to an aggregate number of Ordinary Shares as represents less than 10 per cent. of the number of Ordinary Shares admitted to trading on London Stock Exchange plc's main market for listed securities immediately following the passing of this resolution, provided that such disapplication and exclusion shall expire on the date which is 18 months from the date of the passing of this resolution or, if earlier, at the conclusion of the next annual general meeting of the Company following the date of the passing of this resolution (unless previously renewed, revoked or varied by the Company by special resolution) save that the Company may before such expiry make an offer or agreement which would or might require Ordinary Shares to be allotted after such expiry and the Directors may allot Ordinary Shares in pursuance of such an offer or agreement as if the disapplication and exclusion conferred hereby had not expired.

Resolution 14 - Special Resolution

THAT in accordance with section 25(2) of the Law, the name of the Company be changed to JLEN Environmental Assets Group Limited.

ENDS

For further information please contact:

 
 Foresight Group 
  Chris Tanner 
  Chris Holmes                    [phone] 
 Winterflood Investment Trusts 
  Neil Langford 
  Chris Maills                    [phone] 
 Newgate Communications 
  Elisabeth Cowell 
  Ian Silvera                     [phone] 
 Praxis Fund Services Limited 
  Matt Falla                      [phone] 
 

About JLEN

JLEN's investment policy is to invest in environmental infrastructure projects that have the benefit of long-term, predictable, wholly or partially inflation-linked cash flows supported by long-term contracts or stable regulatory frameworks.

Environmental Infrastructure is defined by the Company as infrastructure projects that utilise natural or waste resources or support more environmentally-friendly approaches to economic activity. This could involve the generation of renewable energy (including solar, wind, hydropower and biomass technologies), the supply and treatment of water, the treatment and processing of waste, and projects that promote energy efficiency.

JLEN's aim is to provide investors with an annual dividend that is sustainable and increases in line with inflation. The target dividend for the year to 31 March 2020 is 6.66 pence per share. The dividend is payable quarterly.

Further details of the Company can be found on its website www.jlen.com

LEI: 213800JWJN54TFBMBI68

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August 14, 2019 11:22 ET (15:22 GMT)