REG - JLEN Environmental - Potential acquisition of CNG portfolio

JLEN Environmental AssetsAnnouncement

16/04/2024 11:30

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RNS Number : 8193K  JLEN Environmental Assets Group Ltd  16 April 2024

16 April 2024

 

JLEN ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

 

Potential acquisition by Refuels of non-controlling assets of CNG portfolio

JLEN notes the announcement this morning by ReFuels N.V. ("ReFuels") regarding
discussions it has held with the Foresight Group ("Foresight") relating to the
potential acquisition by ReFuels of the remaining part of the CNG station
portfolio it does not control ("CNG Portfolio"), and an equity and debt
capital raise it is planning to fund the transaction.

JLEN holds an interest in the CNG Portfolio (representing approximately 3% of
the Company's portfolio) and confirms that Foresight has held discussions with
ReFuels regarding the potential acquisition of Foresight's interests in the
CNG Portfolio (including JLEN's interest). Any transaction remains subject to
the agreement of terms acceptable to Foresight and JLEN and there is no
certainty that the Refuels fundraising or the sale of the CNG Portfolio will
proceed."

 

For further information, please contact:

 

 Foresight Group                                      +44(0)20 3667 8100

 Chris Tanner                                         institutionalir@foresightgroup.eu

Edward Mountney

Wilna de Villiers
 Winterflood Securities Limited                        +44(0)20 3100 0000

 Neil Langford
 SEC Newgate                                          +44 (0)20 3757 6882

 Elisabeth Cowell                                     Jlen@secnewgate.co.uk

Alice Cho

Harry Handyside
 Apex Fund and Corporate Services (Guernsey) Limited  +44 (0)20 3530 3600

 Matt Lihou

Matt Falla

 

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
(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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