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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| John Laing Group Plc | JLG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 402.60 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 402.60 | 402.60 |
| Top Posts |
|---|
Posted at 22/9/2021 18:11 by chc15 Lol yeh goodbye JLG, maybe come back one day! |
Posted at 20/5/2021 09:39 by goldenish1 Brought JLG back in August 2020 as seemed a low risk share at a cheap price and with nice growth prospects. Through my work, I have a bit of experience of infrastructure projects. I am far from complaining about a 34% return if the sales goes through at 403p, even if I did buy with the idea of just tucking it away and hanging onto for many years. Personally if everything goes through then looking at investing those funds in Rathbones, which looks like another low risk but with a decent bit of upside, perhaps 20/30%. |
Posted at 19/5/2021 07:02 by skinny .Summary -- The boards of John Laing and Bidco are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of John Laing by Bidco. The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act. -- Under the terms of the Acquisition, each John Laing Shareholder shall be entitled to receive: for each John Laing Share 403 pence in cash -- The Acquisition Price represents an attractive premium of approximately: -- 35 per cent. to John Laing's Adjusted Net Asset Value of 299 pence per John Laing Share as at 31 December 2020; -- 27 per cent. to the Closing Price per John Laing Share of 318 pence on 5 May 2021 (being the latest practicable date prior to the announcement by John Laing that it was in discussions with KKR (the "Pre-Announcement Date")); -- 30 per cent. to the volume weighted average price per John Laing Share of 311 pence for the one-month period ending on the Pre-Announcement Date; and -- 30 per cent. to the volume weighted average price per John Laing Share of 311 pence for the three-month period ending on the Pre-Announcement Date. -- The Acquisition values the entire issued and to be issued ordinary share capital of John Laing at approximately GBP2.0 billion on a fully diluted basis. -- If any dividend or other distribution is declared, made or paid in respect of John Laing Shares on or after the date of this Announcement, Bidco reserves the right to reduce the Acquisition Price by the amount of such dividend or other distribution. In such circumstances, John Laing Shareholders would be entitled to retain any such dividend or other distribution. -- A revised valuation of John Laing's asset portfolio and net asset value as at 31 May 2021 will be published pursuant to Rule 29 of the Takeover Code in the Scheme Document. Transaction overview -- All-cash acquisition of John Laing by Bidco, intended to be recommended unanimously by the John Laing Board. -- John Laing is a leading international investor which develops and owns mid-market infrastructure assets across the UK & Europe, North America, Latin America and Australia. -- KKR believes that John Laing has an attractive, established portfolio of infrastructure assets and a platform with significant expertise and growth potential. These provide the appropriate risk/returns and an attractive pipeline of future infrastructure projects to meet the objectives of KKR's diversified core infrastructure strategy. -- KKR intends to support John Laing's management team and its strategy of investing in mid-market economic infrastructure assets and businesses and by providing flexible access to long-term capital to fund further growth opportunities. KKR's extensive access to long-term capital and its global network and expertise will enable the John Laing team to accelerate its investment strategy and grow John Laing's asset base under private ownership. -- KKR has agreed to partner with Equitix, an experienced infrastructure investor, to jointly own John Laing's existing asset portfolio. Immediately following completion of the Acquisition, Equitix will acquire a 50 per cent. shareholding in the existing asset portfolio which will continue to be managed by John Laing's management team. -- KKR and Bidco have given assurances to the John Laing Directors that the existing employment rights, including pension rights, of the management and employees of John Laing shall be fully safeguarded. John Laing recommendation -- The John Laing Directors, who have been so advised by Evercore as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. In providing its advice to the John Laing Directors, Evercore has taken into account the commercial assessments of the John Laing Directors. -- Accordingly, the John Laing Directors intend to recommend unanimously that John Laing Shareholders vote in favour of the Scheme at the Court Meeting and John Laing Shareholders vote in favour of the resolutions to be proposed at the John Laing General Meeting as the John Laing Directors who hold interests in John Laing Shares have irrevocably undertaken to do in respect of their own beneficial holdings of 555,083 John Laing Shares representing, in aggregate, approximately 0.11 per cent. of John Laing's issued ordinary share capital on 18 May 2021 (being the latest practicable date prior to publication of this Announcement). Irrevocable undertakings and letter of intent -- In addition to the irrevocable undertakings from the John Laing Directors who hold interests in John Laing Shares, Bidco has received a letter of intent from Soros Fund Management LLC to vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the John Laing General Meeting in respect of 20,384,506 John Laing Shares, representing, in aggregate, approximately 4.13 per cent. of John Laing's issued ordinary share capital on 18 May 2021 (being the latest practicable date prior to publication of this Announcement). -- Bidco has therefore received irrevocable undertakings or a letter of intent in respect of a total of 20,939,589 John Laing Shares representing, in aggregate, approximately 4.24 per cent. of John Laing's issued ordinary share capital on 18 May 2021 (being the latest practicable date prior to publication of this Announcement). -- Further details of these irrevocable undertakings (and the circumstances in which they shall cease to be binding or otherwise fall away) and letter of intent are set out in Appendix III to this Announcement. more...... |
Posted at 18/5/2021 10:18 by salpara111 I don't think a deal will be done and I say that as a holder.Private equity will want to sell off parts of the portfolio which means that they cant really afford to pay more than 20% over book value......which would give you a takeout price around 365/370. Their timing is perfect in terms of launching a bid when the share price was very weak. My expectation was for a return to the 350/360 level in the next 6-9 months which, along with the divi would mean I have little incentive to take the money now. It would appear that no one else is going to throw their hat in the ring so no bidding war. It will be down to the big holders to decide and I suspect that they will vote no. Dont get me wrong, if there was an agreed bid at 390 or above I would happily take the money and run but I cant see an offer being tabled at that level and clearly the market doesnt think so either. |
Posted at 17/5/2021 09:12 by halfpenny News breaking as I see potentially others also reviewing and targeting JLG. I see a massive offer above £5 as their pipeline is increasing rapidly. Remember as news flow the move will be rapid so its onwards and upwards. |
Posted at 07/5/2021 08:36 by salpara111 As a recent holder I was happy to see the share price make a slow and steady climb while I collected the decent divi.I would not be thrilled to see it go private at the current 370p, a decent return for me in a short time but that was not my objective. The dream scenario would be for another bidder to show their hand. I guess it will be next week before we get any additional information. |
Posted at 06/5/2021 14:12 by alter ego RNS just out"Following recent share price movement, the Board of John Laing Group plc ("John Laing" or the "Company") (LSE: JLG-GB) confirms that it is in discussions with KKR & Co. Inc. ("KKR") regarding a possible offer by KKR for the entire issued and to be issued ordinary share capital of John Laing." |
Posted at 01/4/2021 07:24 by 18bt jonwig, yes I saw that too, having just swapped my 3iN shareholding which I felt was standing at too great a premium into JLG. I like the recycling apporach from renewable energy into asssets which are less prone to power price changes. Having also ridden a big share price rise in ICP over the years as it moved from being valued on NAV to one that is valued on earnings as it takes on the management of 3rd party funds, I like that potential too in JLG. |
Posted at 31/3/2021 07:04 by skinny .John Laing Group plc ("John Laing" or the "Group") today announces that it has completed the sale of its 17.26% interest in the New Royal Adelaide Hospital ("NRAH") to funds managed by AMP Capital (the "Transaction"). The consideration received for NRAH represents a good uplift to John Laing's book value of GBP69 million as at 31 December 2020. The NRAH project represents a mature operational project within the Group's secondary portfolio, having been operational since 2017, and this Transaction is consistent with the Group's strategy to realise these types of secondary investments and re-invest the proceeds in new opportunities in greenfield projects and in economic infrastructure businesses and platforms. This Transaction also accelerates and crystalises NAV accretion, some of which was due over the course of the rest of 2021, and further de-risks the portfolio. John Laing's investment in NRAH in 2011 marked the Group's entry into the Australian PPP market. NRAH was successfully delivered by Celsus, a consortium in which John Laing holds a 17.26% share. The availability-based project consisted of the financing, design, construction and operation of non-clinical services for 35-years, and the hospital entered into operation in 2017. Since investing in NRAH in 2011, John Laing has worked closely with its partners on this AUD1.85 billion project through the construction phase, successfully bringing it into operation in 2017. Since first investing in the project in 2011, John Laing has invested GBP37 million in total in NRAH. Shareholders participate in the success of realisations through the special dividend, with the Group paying out approximately 5-10% of gross proceeds received from the sale of investments on an annual basis. This Transaction further strengthens visibility on the 2021 special dividend, with total proceeds eligible to be included in the 2021 special dividend calculation to date amounting to GBP433 million [1] , consisting of expected proceeds from this Transaction and the sales of the Australian wind farm portfolio, the second stage of IEP East and the Rammeldalsberget wind farm. Ben Loomes, Chief Executive of John Laing, said: "We are delighted to have successfully completed the sale of the New Royal Adelaide Hospital to funds managed by AMP Capital. Our investment in 2011 marked our entry into the Australian market, and the hospital today plays an integral part in the community. The New Royal Adelaide Hospital is an example of how state-of-the art healthcare infrastructure can improve the provision of essential services to deliver the best healthcare outcomes. We are proud to have played a role in bringing the facility into operations working alongside our partners and the Government of South Australia." |
Posted at 19/3/2021 07:02 by skinny .John Laing completes sale of Swedish wind farm John Laing Group plc ("John Laing" or "the Group"), the responsible investor and active manager of infrastructure projects internationally, announces that it has completed the sale of its Swedish wind farm, Rammeldalsberget, to Slitevind AB for cash consideration of EUR8.9 million before disposal costs, equivalent to approximately GBP7.6 million. This sale value represents an 8% uplift to John Laing's book value for the asset at 31 December 2020. The Rammeldalsberget project is a mature operational project within the Group's secondary portfolio, having been operational since 2016, and this sale is consistent with the Group's strategy to realise these types of secondary assets and re-invest the proceeds in new opportunities in greenfield projects and in economic infrastructure businesses and platforms. Rammeldalsberget is a 15.75 MW onshore wind farm located near Kramfors, Sweden. John Laing first invested in Rammeldalsberget in 2014 and brought it into operation in 2016. The wind farm has an operational track record of almost five years and is fully exposed to merchant power prices. Shareholders participate in the success of realisations through the special dividend, with the Group paying out approximately 5-10% of gross proceeds received from the sale of investments on an annual basis. This sale adds to the visibility of the 2021 special dividend, with total proceeds eligible to be included in the 2021 special dividend calculation now amounting to approximately GBP358 million [1] , consisting of expected proceeds from this sale as well as the sales of the Australian wind farm portfolio that completed last week and the second stage of IEP East divestment expected to complete later in the year. Ben Loomes, Chief Executive of John Laing, said: "Following on from the completion of the sale of our Australian wind farm portfolio last week, the divestment of Rammeldalsberget is in line with our strategy to realise fully our Renewable Energy assets over the next two years. This will reduce the portfolio exposure to merchant power prices and the corresponding volatility in portfolio value and returns. The sale of Rammeldalsberget is also consistent with our approach of enhancing the efficiency of our resources as we focus on investing larger equity investments in the future and rationalising the portfolio by divesting smaller, but resource intensive assets." |
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