Restructuring of Investment Advisory Arrangements

RNS Number : 5539C

Jlen Environmental Assets Grp

11 February 2020

 

11 February 2020

JLEN Environmental Assets Group Limited

Restructuring of Investment Advisory Arrangements

The Board of JLEN Environmental Assets Group Limited ("JLEN" or the "Company") announces that, following an internal restructuring at Foresight Group, Foresight Group LLP ("Foresight") has replaced Foresight Group CI Limited ("Foresight CI") as investment adviser to JLEN.

As announced by the Company on 5 June 2019, Foresight CI was appointed as investment adviser to JLEN with effect from 1 July 2019.  Foresight CI appointed Foresight, an English law incorporated limited liability partnership that is authorised and regulated by the Financial Conduct Authority, as sub-investment adviser to provide investment advice to Foresight CI in respect of the Company. 

This sub-investment advisory arrangement has now been terminated and the Company has entered into a new investment advisory agreement with Foresight (the "New Investment Advisory Agreement").  The material terms and fees contained in the New Investment Advisory Agreement are the same as in the previous investment advisory agreement with Foresight CI.  The team members providing investment advisory services to the Company will not change as a result of this restructuring.

For further information please contact:

Foresight Group Chris Tanner Chris Holmes	[phone]
Winterflood Securities Limited Neil Langford Chris Mills	[phone]

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.

JLEN's aim is to provide investors with an annual dividend that is sustainable and increases in line with inflation. The target dividend for the year to 31 March 2020 is 6.66 pence per share. The dividend is payable quarterly.

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

 LEI: 213800JWJN54TFBMBI68

The content of this announcement has been prepared by and is the sole responsibility of the Company.

 

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