Net Asset Value

RNS Number : 3370E

John Laing Environmental Assets Grp

09 February 2015

 



9 February 2015

JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

 Net Asset Value Announcement

JLEN, the listed environmental infrastructure fund, announces its unaudited Net Asset Value as at 31 December 2014 is £159.4m or 99.6p per share, an ex-dividend increase of 1.4p per share since 30 September 2014 (101.2p or 98.2p ex-dividend).

The weighted average discount rate of the Portfolio as at 31 December 2014 was 9.2% (30 September 2014: 9.2%). Power price assumptions are based on long‑term forecasts from an established market consultant and other relevant information, and adjusted by John Laing Capital Management Limited for project specific arrangements.

Other highlights for the quarter to 31 December 2014 are as follow:

·     Financial performance of portfolio in line with management expectations

·     Revolving Credit Facility of £50m signed in October 2014 giving flexibility for further acquisitions

·     Interim dividend of 3.0p per share for the period to 30 September 2014 declared in November 2014 and paid on 19 December 2014

·     Strong pipeline of assets for further growth and First Offer Agreement with John Laing plc

Ends

For Further Details Contact:

John Laing Capital Management Limited David Hardy Chris Tanner	020 7901 3559
Redleaf Polhill Rebecca Sanders-Hewett Charlie Geller	020 7382 4769

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.

Further details of the Company can be found on its website www.jlen.com

 

END

 

 

NAVSSUFMMFISEDE