John Laing Environmental Assets Grp Management Services Agreements (9839B)
22 Juni 2016 - 3:00PM
UK Regulatory
TIDMJLEN
RNS Number : 9839B
John Laing Environmental Assets Grp
22 June 2016
22 June 2016
John Laing Environmental Assets Group Limited
Management Services Agreements
John Laing Environmental Assets Group Limited (the "Company" or
"JLEN") notes that on 21 June 2016 John Laing Group plc ("John
Laing") announced the conditional sale of its Project Management
Services activities in the UK (the "Transaction") to HCP Management
Services ("HCP"). The announcement explains that 62 of John Laing's
Management Services Agreements ("MSAs") will, subject to John Laing
obtaining consents at project level, transfer to HCP as part of the
sale.
In respect of JLEN's portfolio as at 31 March 2016, John Laing
provided MSA services to 11 of JLEN's UK based environmental
infrastructure asset projects, each under a separate MSA agreement.
The provision of such services includes the management of
sub-contractors/service providers, the provision of commercial
support, company secretarial and financial administrative services
and oversight and management of financial operations.
Subject to completion of the Transaction, the MSA service
provision will be provided by HCP under the terms of the existing
MSAs.
The services provided under the MSAs are separate to the
services provided to JLEN by John Laing Capital Management Limited
("JLCM"), a subsidiary of John Laing and the Company's Investment
Adviser, under an Investment Advisory Agreement, which will
continue to be provided by JLCM.
The Transaction is subject to customary consents and is expected
to complete no later than the fourth quarter of 2016.
For further details, contact:
John Laing Capital Management Limited 020 7901 3559
David Hardy
Chris Tanner
Winterflood Investment Trusts 020 3100 0000
Joe Winkley
Neil Langford
Redleaf Communications 020 7382 4769
Charlie Geller
Harriet Lynch
This information is provided by RNS
The company news service from the London Stock Exchange
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