John Laing Environmental Assets Grp Result of Placing (3863K)

TIDMJLEN

RNS Number : 3863K

John Laing Environmental Assets Grp

07 July 2017

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 July 2017

John Laing Environmental Assets Group Limited

Result of Placing

Further to the announcement on 15 June 2017, the Board of John Laing Environmental Assets Group Limited ("JLEN" or the "Company") announces that it has raised GBP40 million through the issue of 38,834,951 New Ordinary Shares at a price of 103 pence per New Ordinary Share ("Issue Price"). The Placing was significantly oversubscribed and applications have been scaled back in accordance with the terms of the Placing.

The Company intends to use the net proceeds of the Placing to repay its revolving credit facility and allow it to deliver on a near term pipeline of attractive opportunities across a range of environmental infrastructure sectors.

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 12 July 2017 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 378,477,029 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 16 December 2016 which can be found on JLEN's website at www.jlen.com.

For further information please contact:

 
 John Laing Capital Management 
  Limited 
  Chris Tanner 
  David Hardy                     [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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

ROIDQLFBDDFXBBE

(END) Dow Jones Newswires

July 07, 2017 02:00 ET (06:00 GMT)