JLEN Environmental Assets Group Ltd Notice of Results, Capital Allocation Update (2295O)
02 Oktober 2023 - 8:00AM
UK Regulatory
TIDMJLEN
RNS Number : 2295O
JLEN Environmental Assets Group Ltd
02 October 2023
2 October 2023
JLEN Environmental Assets Group Limited
Notice of Results, Analyst Briefing and Capital Allocation
Update
JLEN Environmental Assets Group Limited ("JLEN" or the
"Company"), the listed environmental infrastructure fund, will
publish its interim results for the six months ended 30 September
2023, on Monday 27 November 2023.
Ahead of its interim results, the Board of JLEN outlines its
focused capital allocation approach in light of the challenging
macroeconomic environment.
JLEN has always had a disciplined approach to capital
allocation, including active asset management, as demonstrated by
the sale of the Company's French wind assets in January 2022. JLEN
continues to assess disposal opportunities to recycle capital from
lower-returning parts of the portfolio.
In the current market environment, the Board believes that it is
appropriate for capital generated from the Company's portfolio and
from future asset sales to be prioritised towards existing
commitments, planned follow-on investments and asset enhancements
within the current portfolio, alongside managing the RCF to
maintain a robust balance sheet and the potential for share
buybacks.
The Board and the Investment Manager believe that the discount
to NAV at which JLEN's shares are currently trading materially
undervalues the Company, and so represents an attractive investment
opportunity. Consequently, share buybacks form an important part of
the Board and Investment Manager's capital allocation
considerations. Any decisions regarding share repurchases will, at
that time, depend on the rating of JLEN's shares and will include
an assessment of the implied risk / return of share buybacks
against that of other investment opportunities, alongside the
potential long-term implications for the Company.
Analyst Briefing
The Company is pleased to announce that Chris Tanner and Edward
Mountney, Investment Managers to JLEN, will host a presentation
with Q&A for equity analysts at 10:00 a.m. (UK time) on Monday
27 November 2023.
Analysts wishing to register should contact SEC Newgate by email
on jlen@secnewgate.co.uk , where further details will be
provided.
The results and presentation materials will be posted on the
Company's website, www.jlen.com on the day of results.
For further information please contact:
JLEN Environmental Assets Group Limited via SEC Newgate
Ed Warner
Foresight Group
Chris Tanner
Edward Mountney +44(0)20 3667 8100
Wilna de Villiers institutionalir@foresightgroup.eu
Winterflood Securities Limited
Neil Langford +44(0)20 3100 0000
SEC Newgate +44 (0)20 3757 6882
Elisabeth Cowell Jlen@secnewgate.co.uk
Alice Cho
Harry Handyside
Sanne Fund Services (Guernsey) Limited
Matt Falla
Gemma Berry +44 (0)20 3530 3600
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
share(1) .
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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