TIDMJLEN

RNS Number : 4605N

JLEN Environmental Assets Group Ltd

23 January 2023

23 January 2023

JLEN ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

Net Asset Value and Dividend Announcement

Net Asset Value

JLEN, the listed environmental infrastructure fund, announces that its unaudited Net Asset Value ("NAV") at 31 December 2022 is GBP816.7m (123.5 pence per share). This reflects a decrease of 0.9 pence per share from the 30 September 2022 adjusted NAV of 124.4 pence per shares, which included an adjustment for the UK government's Electricity Generator Levy announced in the Autumn Statement in November 2022.

The movement is due to the net impact from a decline in near and medium term power price forecasts provided by independent third party consultants (-3.4p), operational gains from investments performing above expectations for the period (+0.7p) and an increase to the 2023 forecast rate of RPI to 6.5% reflecting an average of recent independent economic forecasts (+1.7p).

Dividend

The Company also announces a quarterly interim dividend of 1.78 pence per share for the quarter ended 31 December 2022, in line with the dividend target of 7.14p per share for the year to 31 March 2023, as set out in the 2022 Annual Report.

Dividend Timetable

   Ex-dividend date    2 February 2023 
   Record date            3 February 2023 
   Payment date         24 March 2023

This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014.

For further information, please contact:

Foresight Group +44 (0)20 3667 8100

Chris Tanner

Chris Holmes

Edward Mountney

Winterflood Investment Trusts +44 (0)20 3100 0000

Neil Langford

Chris Mills

   SEC Newgate (For media enquiries)                                             +44 (0)20 3757 6882

Elisabeth Cowell jlen@secnewgate.co.uk

   Sanne Fund Services (Guernsey) Limited                                     +44 (0)14 8175 5530

Matt Falla

Gemma Berry

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 2023 is 7.14 pence per share(1) . The dividend is payable quarterly.

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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END

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January 23, 2023 02:00 ET (07:00 GMT)

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