John Laing Environmental Assets Grp Net Asset Value and Dividend Declaration (9903X)

TIDMJLEN

RNS Number : 9903X

John Laing Environmental Assets Grp

16 August 2018

16 August 2018

JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

Net Asset Value and Dividend announcement

NAV

JLEN, the listed environmental infrastructure fund, announces its unaudited Net Asset Value ("NAV") as at 30 June 2018 and interim dividend for the quarter ended on that date.

The Company's unaudited NAV as at 30 June 2018 was GBP392.3 million or 99.6 pence per share, compared to GBP392.4 million or 99.6 pence per share as at 31 March 2018.

Portfolio update

For the quarter to 30 June 2018, generation for the solar portfolio was in line with budget and the anaerobic digestion ("AD") portfolio continued the positive trend observed previously, being materially up for the same period.

The wind portfolio was below budget reflecting poor wind resource, in line with observations from other wind asset owners. In aggregate, the renewables portfolio saw generation just below budget but benefited from higher than forecast gas and electricity prices for those plants not on fixed price arrangements. Waste and wastewater assets continue to perform in-line with expectations.

JLEN has continued to diversify its portfolio since June, having acquired three AD projects including the Merlin plant announced today, which has seen the company draw down finance from its revolving credit facility. JLEN continues to evaluate an attractive pipeline of opportunities in the environmental infrastructure sector and accordingly, intends to seek new equity capital in the coming months to fund acquisitions which deliver long-term predictable cash flows and are supported by long term contracts or stable and well-proven regulatory and legal frameworks.

Dividend

The Company announces a quarterly interim dividend of 1.6275 pence per share for the quarter ended 30 June 2018, in line with the dividend target of 6.51p per share for the year to 31 March 2019, as set out in the 2018 Annual Report.

Dividend Timetable

Ex-dividend date 23 August 2018

Record date 24 August 2018

Payment date 21 September 2018

This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014.

For further details contact:

   John Laing Capital Management Limited                                 020 7901 3559 

Chris Tanner

Chris Holmes

   Winterflood Investment Trusts                                                  020 3100 0000 

Neil Langford

Chris Mills

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 aims 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 2019 is 6.51 pence per share (1) . 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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August 16, 2018 02:01 ET (06:01 GMT)