John Laing Infrastructure Share Discussion Threads

[skinny] 02/10/2014 07:06

JLIF, the listed infrastructure investment company, is pleased to announce that, following its successful £50 million placing earlier this month (the "Placing"), it has completed the acquisition of two assets from the John Laing portfolio announced on 11 September 2014. These are:

· A 40% stake in the Gröningen Tax Office project in the Netherlands, a 20 year concession encompassing the operation of 47,000m2 of office accommodation, 700 parking spaces and 9,000m2 of public gardens; and
· A 50% stake1 in the South East London Police Stations project which, across all four stations, provides 34,000m2 of internal space, including 96 custody cells and stabling for 24 horses.

The final asset in the stated portfolio is a 100% shareholding in the North Birmingham Mental Health project, the acquisition of which JLIF anticipates to complete in the near future.

David Marshall from John Laing Capital Management ("JLCM"), Investment Adviser to JLIF, said:

"We are delighted to announce the completion of these two acquisitions from the John Laing portfolio, using the funds raised as part of our stated strategy. JLIF has a successful track record of identifying and developing acquisition opportunities prior to raising new capital, thereby maximising shareholder return."

[skinny] 11/9/2014 07:29

Placing of up to £50 million of New Ordinary Shares and Acquisition of Three PFI/PPP Projects for £39 million


The Board of JLIF today announces a proposal to raise up to £50 million before costs through a placing (the "Placing") of ordinary shares in the capital of the Company (the "Placing Shares") by way of tap issuance.

Highlights

· Placing of up to £50 million of new ordinary shares

· Acquisition of three, fully operational PFI/PPP projects, with contracted government-backed revenue streams

· In line with investment strategy of buying low risk, high quality assets to deliver a secure and stable income stream

[spangle93] 27/8/2014 07:22

Alternatively, if you prefer presentations,

hTTp://www.jlif.com/files/jlif/announcements/2014_Interim_Results_Presentation.pdf

[skinny] 27/8/2014 07:03

Half Yearly Report

Good performance over the reporting period

• Actual growth of 4.95% to £805.2 million on a rebased
Portfolio Value of £767.2 million
• Strong cash flows continue from the diversified Portfolio
of 52 projects
• Total Shareholder Return (including dividends paid) of
3.99% in the period
• Portfolio Value increased by 1.2% or £9.4 million
since 31 December 2013 to £805.2 million at 30 June 2014
(including acquisitions)
• Paid an increased dividend of 3.25 pence per share in
May
relating to the six month period to 31 December 2013
• Declared a dividend of 3.25 pence per share, payable in
October
• Widened investment powers in February 2014 which was
strongly supported by shareholders
• Profit before tax for the six month period of £27.3
million (30 June 2013 - £22.1 million)

Operational Highlights

Portfolio Value growth has been supported by a number of value
enhancements and improvements to cash flow forecasts across our
projects, and so JLIF has achieved strong performance on behalf
of
its investors during the first half of the year. A selection of
the
most notable achievements for the Company for the period are:
• Net Asset Value as at 30 June 2014 of £820.7
million,
up 0.3%, or 0.8% excluding unrealised exchange rate movements
• NAV per share of 107.0 pence, up 0.2%, or 0.8% excluding
unrealised exchange rate movements
• Completed acquisition of additional 15% stakes in the
Barnet and Enfield street lighting projects, taking JLIF's total
shareholdings to 100%
• Completed acquisition of additional 16.67% stake in the
Miles Platting Social Housing project, taking JLIF's stake to
50%

Commenting on today's results, Paul Lester, Chairman of JLIF,
said:
"JLIF has performed well in the first half of 2014. As we
continue
to develop our existing portfolio, I am pleased to report that
the
existing projects are performing strongly and we have been able
to
deliver several value enhancements in the period. We also
continue
to develop our pipeline of potential acquisitions, while
maintaining a disciplined approach to further investment, as
our
priority remains on ensuring long term sustainable returns. We are
optimistic about new opportunities coming to market in the short to
medium term, as we take further steps to build our overseas
presence in Continental Europe, Australia and the United States of
America."

[craigends] 01/8/2014 15:31

thanks DoD

[daveofdevon] 01/8/2014 12:55

Looking back the last 3 years XDs have been on the 7th 5th and 4th of September so I would think its odds on to be Wednesday 3rd Sep

[craigends] 01/8/2014 11:37

anyone got info on next ex-div date -usuually end of August? Tried company web site zilch.

[skinny] 24/7/2014 07:12

JLIF, the international PPP infrastructure investment company, advises that it will announce its interim results for the six months to 30 June 2014 on Wednesday 27 August 2014. A presentation to analysts will take place at 9.30am on 27th August, 2014 at the offices of RLM Finsbury, Tenter House, 45 Moorfields, London EC2Y 9AE.

[skinny] 02/5/2014 07:14

Highlights

• Dividend increased in March 2014 by 4.0% to 3.25 pence per share for the second half of 2013

• the Portfolio showed underlying growth of 2.0% for the three month period ended 31 March 2014, on a rebased valuation of £783.6 million

• Actual Portfolio Value increased by £3.1 million to £799.0 million over the same period

• Net Asset Value[2] (NAV) was £801.7 million[3] as at 31 March 2014 (after the dividend of £24.9 million to be paid on 19 May 2014)

• NAV per share was 104.6 pence ex-div (107.9 cum-div), as at 31 March 2014, due to underlying growth over the period

• Completed three follow-on acquisitions in 2014 in the street lighting and social housing sectors

• In February, shareholders approved certain amendments to the Investment Policy enabling JLIF to remain competitive in the changing global infrastructure market

[spangle93] 11/4/2014 21:58

Thanks jonwig

The only I've taken up before used the inducement of giving more by effectively paying the tax, so if the share were £1.25 and your net divvy was £10, you could either take £10 or net 10 shares. Otherwise apart from not having the dealing charges there's not a whole lot of encouragement.

I'll check with H-L who I use, but over the last year, as has been widely reported, they've been overtly grasping for money, so I imagine like a lot of things that used to be offered free, if they do it, they'd charge for it.

[jonwig] 11/4/2014 19:04

It doesn't seem to be there, does it?
I'm looking here:



I think the PR number might be best: 020 7251 3801

On your final query, my broker (TD Direct)has a policy where you either take scrip divis on all your holdings which offer them, or none. That's no good for me.
But they do have a DRIP scheme for FTSE350 companies, which I use.

As for terms, a scrip divi reference price is announced shortly before payment, so terms are unlikely to be much different from cash.

[spangle93] 11/4/2014 17:58

Can anyone point me in the direction of the scrip dividend circular referred to in this morning's announcement.

I've scoured the JLIF site, but can only find the RNS

Likewise Hems-cott has both the RNS and the "circular", but when you open the circular it's just another version of the RNS.

While I'm asking for help... ;-)
Does anyone take the scrip dividend rather than cash - is it on better terms than cash - and is it possible to take the scrip divvy if like me you hold shares in a nominee account?

[craigends] 07/4/2014 17:16

Thanks Skinny - imagine me forgetting about collecting money!!! Did you dip into JLEN? Personally have left alone.

[skinny] 02/4/2014 16:46

Ex dividend today 3.25p.

[craigends] 02/4/2014 16:41

sand in the face after big placing methinks?

[jonwig] 31/3/2014 08:36

Thread for JLEN:

[rik shaw] 26/3/2014 20:27

Not one for me but update on JLEN:



Listing on 31/3.

[jonwig] 26/3/2014 07:11

EDIT POST: I seem to have misread this morning's RNS - sorry!

[skinny] 24/3/2014 07:09

This interim dividend of 3.25 pence which, combined with the previous dividend of 3.125 pence, takes the total for the year ended 31 December 2013 to 6.375 pence. This exceeds the target dividend payment of 6.0 pence per ordinary share as set out in the Company's Prospectus dated September 2013.

[skinny] 24/3/2014 07:07

Strong performance over the year ended 31 December 2013

· Dividend increase of 4.0% to 3.25 pence per share
· Full year dividend of 6.375 pence per share declared, up 4.1% on dividends declared for 2012
· Post dividend Net Asset Value ("NAV") increase to 106.8 pence per share
· NAV increased 50.8% to £818.1 million in 2013, including equity raised of £282.2 million
· New investments of £264.6 million during the period
· Total Shareholder Return (including dividends paid) of 13.5% in the year

Operational Highlights

With Portfolio performance and asset yield both above forecast, new investment in assets at an historic high and the largest single capital raise undertaken to date, JLIF has achieved strong performance on behalf of its investors during the year. A selection of the most notable achievements for the Company for the period are:

· Underlying Portfolio Value growth of £53.7 million, 13.5% ahead of forecast
· Portfolio distributions of £53.6 million, 8.2% ahead of forecast
· Acquisition of the largest portfolio since launch, of 11 operational and yielding assets from Investors in the Community LP, the most substantial acquisition made outside of the First Offer Agreements with John Laing to date
· Significant diversification of sources of asset acquisitions
· Two successful capital raisings of an additional £282.2 million, both achieved full target, were oversubscribed and at a significant premium to NAV, providing value accretion to shareholders

Commenting on today's results, Paul Lester, Chairman of JLIF, said:

"JLIF performed very well in 2013, delivering strong growth for the Portfolio. We successfully completed two further capital raisings, one of which was the largest fundraise since IPO. This further demonstrates the success of our business model and the increasing demand for infrastructure as an asset class. During the period we also acquired additional stakes in five separate assets, as a result of our position as a co-shareholder. The outlook for JLIF, and the infrastructure landscape in which we operate, remains favourable."

[bigmike100] 11/3/2014 21:33

Thanks Craigends much appreciated

[craigends] 11/3/2014 16:40

Bigmike100 -see my post 180 - separate identities so should not impact. IMHO.

[bigmike100] 10/3/2014 11:33

what are the implications for JLIF?

[craigends] 09/3/2014 20:34

I have a pet aversion to wind power -although recognise it's need.
PLacing at 6% expected yield signifies to me the level of risk.
Will wait until later -adopt a wait and see.Energy such a political football these days.

[jonwig] 08/3/2014 07:20

The Environmental Assets spin-off mentioned on 10 Feb:



Includes prospectus.
Offer opened 19 Feb, first dealings 24 March.

Personally, I'm sceptical about wind farms, both on- and off-shore, eg: