9 August 2024
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 30 June 2024 is £748.1 million (113.1 pence per share), a decrease of 0.5 pence per share since 31 March 2024 after paying the quarterly dividend of 1.89 pence per share.
Summary of changes in NAV:
The table below summarises the changes in NAV since 31 March 2024, with the main drivers being payment of the aforementioned dividend partially offset by an increase in near term power forecasts and reflection of actual asset performance and unwind of the discount rate.
| | NAV per share |
| NAV at 31 March 2024 | 113.6p |
| Dividends paid in the period | -1.9p |
| Power price forecasts | 0.7p |
| Other movements (including actual performance) | 0.7p |
| NAV at 30 June 2024 | 113.1p |
Dividend
The Company also announces a quarterly interim dividend of 1.95 pence per share for the quarter ended 30 June 2024, in line with the dividend target of 7.80p per share for the year to 31 March 2025, as set out in the 2024 Annual Report.
Dividend timetable
| Ex-dividend date | 5 September 2024 |
| Record date | 6 September 2024 |
| Payment date | 27 September 2024 |
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 Chris Tanner Edward Mountney Jennifer Johnson--------- | +44(0)20 3667 8100
|
| Winterflood Securities Limited Neil Langford
| +44(0)20 3100 0000
|
| SEC Newgate Elisabeth Cowell Alice Cho Harry Handyside
| +44 (0)20 3757 6882 Jlen@secnewgate.co.uk
|
| Apex Fund and Corporate Services (Guernsey) Limited Matt Lihou Matt Falla
| +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 2025 is 7.80 pence per share1.
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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