John Laing Environmental Assets Grp Proposed Equity Issue (8470V)
21 April 2016 - 8:00AM
UK Regulatory
TIDMJLEN
RNS Number : 8470V
John Laing Environmental Assets Grp
21 April 2016
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA.
21 April 2016
JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED
Proposed Equity Issue
On 17 March, John Laing Environmental Assets Group Limited
("JLEN" or the "Company") announced the acquisition of Pylle
Southern Solar Park which was funded by a drawdown under the
Company's revolving credit facility.
JLEN has now drawn the majority of its revolving credit facility
and has a strong pipeline of investment opportunities and, with
this in mind, the Board of JLEN is proposing to raise up to GBP65
million by way of a cash placing of new ordinary shares (the "New
Shares") to institutional investors pursuant to its existing
placing programme (the "Placing"). The net proceeds of the Placing
will be used to repay the Company's facility to provide capital for
pipeline acquisitions.
The issue price per New Share will be at a modest premium to the
estimated net asset value as at 31 March 2016, which is expected to
be announced on or around 12 May 2016.
The Placing is expected to close at 2.00 p.m. (London time) on
26 May 2016 with the results of the issue expected to be announced
on 27 May 2016.
The Placing will be made to Qualified Investors (as defined in
section 86(7) of the Financial Services and Markets Act 2000 (as
amended)) through Winterflood Securities Limited ("Winterflood").
The decision to allot New Shares to any Qualified Investor shall be
at the absolute discretion of the Board of JLEN (following
consultation with Winterflood and the Company's investment adviser,
John Laing Capital Management Limited).
Application will be made for the New Shares to be admitted to
the premium segment of the Official List and to trading on the Main
Market of the London Stock Exchange. It is expected that dealings
in the New Shares will commence at 8.00 a.m. on 1 June 2016.
The prospectus in connection with the placing programme was
published on 4 June 2015 and can be found on JLEN's website at
www.jlen.com.
For further details contact:
John Laing Capital Management
Limited
David Hardy
Chris Tanner 020 7901 3559
Winterflood Investment Trusts
Neil Langford
Chris Mills 020 3100 0000
Redleaf Polhill
Charlie Geller
Harriet Lynch 020 7382 4769
Important information
The contents of this announcement, which has been prepared by
and is the sole responsibility of the Company, have been approved
by John Laing Capital Management Limited (the "Investment Adviser")
solely for the purposes of section 21(2)(b) of the Financial
Services and Markets Act 2000 (as amended).
This announcement is an advertisement. It does not constitute a
prospectus relating to the Company and does not constitute, or form
part of, any offer or invitation to sell or issue, or any
solicitation of any offer to purchase or subscribe for, any shares
in the Company in any jurisdiction nor shall it, or any part of it,
or the fact of its distribution, form the basis of, or be relied on
in connection with or act as any inducement to enter into, any
contract therefor.
Recipients of this announcement who are considering acquiring
shares in the Company are reminded that any such acquisition must
be made only on the basis of the information contained in the
prospectus published by the Company dated 4 June 2015 and any
supplement or supplements thereto which may be different from the
information contained in this announcement. This announcement does
not contain sufficient information to support an investment
decision and investors should ensure that they obtain all available
relevant information before making any investment.
Winterflood Securities Limited ("Winterflood"), which is
authorised and regulated by the Financial Conduct Authority, is
acting only for the Company in connection with the matters
described in this announcement and is not acting for or advising
any other person, or treating any other person as its client, in
relation thereto and will not be responsible for providing the
regulatory protection afforded to clients of Winterflood or advice
to any other person in relation to the matters contained
herein.
The shares of the Company have not been, nor will they be,
registered under the US Securities Act of 1933, as amended, or with
any securities regulatory authority of any state or other
jurisdiction of the United States or under the applicable
securities laws of Australia, Canada, Japan, New Zealand or South
Africa. Further, the Company has not been and will not be
registered under the US Investment Company Act of 1940, as amended.
Subject to certain exceptions, the shares of the Company may not be
offered or sold in any member state of the EU other than the United
Kingdom, the United States of America, Canada, Australia, Japan,
New Zealand or South Africa or to or for the account or benefit of
any national, resident or citizen of any member state of the EU
other than the United Kingdom, Canada, Australia, Japan, New
Zealand or South Africa or any person located in the United States.
The Placing and the distribution of this announcement in other
jurisdictions may be restricted by law and the persons into whose
possession this announcement comes should inform themselves about,
and observe, any such restrictions.
Acquiring shares to which this announcement relates may expose
an investor to a significant risk of losing all of the amount
invested. This announcement does not constitute a recommendation
concerning the Placing and no information in this announcement
should be construed as providing financial, investment or other
professional advice. The value of the shares in the Company can
decrease as well as increase. Past performance or information in
this announcement or any of the documents relating to the Placing
cannot be relied upon as a guide to future performance.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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