John Laing Environmental Assets Grp Result of Initial Placing (9017G)

TIDMJLEN

RNS Number : 9017G

John Laing Environmental Assets Grp

07 March 2018

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.

7 March 2018

John Laing Environmental Assets Group Limited

Result of Initial Placing

Further to the announcement on 21 February 2018, the Board of John Laing Environmental Assets Group Limited ("JLEN" or the "Company") announces that it has raised GBP15.5 million through the issue of 15,600,000 New Ordinary Shares at a price of 99.5 pence per New Ordinary Share ("Issue Price"). Any Placing applications at a price below the Issue Price have not been accepted.

The Company intends to use the net proceeds of the Placing to pay down its revolving credit facility and hence allow it to deliver on a near term pipeline of attractive opportunities across the Biomass and Anaerobic Digestion sectors, further diversifying the Company's portfolio.

Application will be 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 plc 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 on or around 8.00 a.m. on 9 March 2018 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.

Immediately following Admission, the Company's issued share capital will consist of 394,077,029 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.

Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the prospectus published by the Company on 23 February 2018 which can be found on JLEN's website at www.jlen.com.

For further information please contact:

 
 John Laing Capital Management 
  Limited 
  Chris Tanner 
  Chris Holmes                    [phone] 
 Winterflood Securities 
  Limited 
  Neil Langford 
  Chris Mills                     [phone] 
 

Important Information

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

LEI: 213800JWJN54TFBMBI68

This information is provided by RNS

The company news service from the London Stock Exchange

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March 07, 2018 02:00 ET (07:00 GMT)