Jlen Environmental: Net Asset Value and Dividend
23/01/2023 07:00
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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 £816.7m (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
(http://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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