Net Asset Value and Dividend

RNS Number : 7986U

JLEN Environmental Assets Group Ltd

04 August 2022

 

4 August 2022

JLEN ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

Net Asset Value and Dividend Announcement

Net Asset Value

JLEN, the listed environmental infrastructure fund, announces that its unaudited Net Asset Value as at 30 June 2022 is £814.3million (123.1 pence per share), an increase of 7.8 pence per share since 31 March 2022. The increase is due to a combination of price fix arrangements secured above previous valuation assumptions (+1.2p), uplifts in seasonal forward pricing (+1.5p) and revisions to long term forecasts provided by independent third party consultants (+5.8p). Other valuation assumptions, including actual year to date and forecast inflation will be reviewed for the interim report to 30 September 2022.

Dividend

The Company also announces a quarterly interim dividend of 1.78 pence per share for the quarter ended 30 June 2022, in line with the dividend target of 7.14p per share for the year to 31 March 2023, as set out in the 2022 Annual Report.

Dividend Timetable

Ex-dividend date	1 September 2022
Record date	2 September 2022
Payment date	23 September 2022

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

For further information, please contact: 

Foresight Group Chris Tanner Chris Holmes	[phone]
Winterflood Investment Trusts Neil Langford Chris Mills	[phone]
SEC Newgate (For media enquiries) Elisabeth Cowell	[phone] [e-mail]
Sanne Fund Services (Guernsey) Limited Matt Falla Gemma Woods	44 (0)14 8175 5530

About JLEN

JLEN's investment policy is to invest in a diversified portfolio of Environmental Infrastructure. Environmental Infrastructure is defined by the Company as infrastructure assets, projects and asset-backed businesses that utilise natural or waste resources or support more environmentally friendly approaches to economic activity, support the transition to a low carbon economy or which mitigate the effects of climate change. Such investments will typically feature one or more of the following characteristics:

-  long-term, predictable cash flows, which may be wholly or partially inflation-linked cash flows;

-  long-term contracts or stable and well-proven regulatory and legal frameworks; or

-  well-established technologies, and demonstrable operational performance.

JLEN's aim is to provide investors with a sustainable, progressive dividend per share, paid quarterly and to preserve the capital value of the portfolio over the long term on a real basis. The target dividend for the year to 31 March 2023 is 7.14 pence per share¹.  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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