Potential acquisition of CNG portfolio

JLEN Environmental Assets Group Ltd

16 April 2024

 

16 April 2024

JLEN ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

Potential acquisition by Refuels of non-controlling assets of CNG portfolio

JLEN notes the announcement this morning by ReFuels N.V. ("ReFuels") regarding discussions it has held with the Foresight Group ("Foresight") relating to the potential acquisition by ReFuels of the remaining part of the CNG station portfolio it does not control ("CNG Portfolio"), and an equity and debt capital raise it is planning to fund the transaction.

JLEN holds an interest in the CNG Portfolio (representing approximately 3% of the Company's portfolio) and confirms that Foresight has held discussions with ReFuels regarding the potential acquisition of Foresight's interests in the CNG Portfolio (including JLEN's interest). Any transaction remains subject to the agreement of terms acceptable to Foresight and JLEN and there is no certainty that the Refuels fundraising or the sale of the CNG Portfolio will proceed."

For further information, please contact: 

Foresight Group Chris Tanner Edward Mountney  Wilna de Villiers	[phone] [e-mail]
Winterflood Securities Limited Neil Langford	[phone]
SEC Newgate Elisabeth Cowell Alice Cho Harry Handyside	[phone] [e-mail]
Apex Fund and Corporate Services (Guernsey) Limited Matt Lihou Matt Falla	[phone]

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 2024 is 7.57 pence per share¹.   

JLEN is an Article 9 fund under the EU Sustainable Finance Disclosure Regulation and has a transparent and award winning approach to ESG. 

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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