JLEN Environmental Assets Group Ltd. — Net Asset Value 2020

May 28, 2020

National Storage Mechanism | Additional information

RNS Number : 1441O

Jlen Environmental Assets Grp

28 May 2020

28 May 2020

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 as at 31 March 2020 is £533.0 million (97.5 pence per share), a decrease of 4.3 pence per share since the last published NAV as at 31 December 2019, predominantly due to a downward revision in power price forecasts as a result of the economic impact of the Covid-19 pandemic and the recognition of the reversal of the proposed decrease in the rate of Corporation Tax.

Dividend

The Company also announces a quarterly interim dividend of 1.665 pence per share for the period from 1 January 2020 to 31 March 2020.

Together with the interim dividends paid during the financial year to date of 4.995 pence per share, the Company will have paid total dividends of 6.66p pence per share in respect of the year ended 31 March 2020, in line with the dividend target set out in the 2019 Annual Report.

The Company also announces an increase in the target dividend for the upcoming financial year to 6.76 pence per share for the financial year to 31 March 2021.

Dividend Policy

The Company has sought to pay shareholders a sustainable dividend that increases progressively in line with inflation, subject to market conditions and outlook. After careful consideration, and in light of a weak outlook for power prices exacerbated further by the Covid emergency, the Board has decided that it is prudent now to change the dividend policy for future periods to break the explicit link with inflation. For periods after 31 March 2021, the Company intends to follow a progressive dividend policy.

Dividend Timetable

Ex-dividend date     4 June 2020

Record date            5 June 2020

Payment date         26 June 2020

The Company will announce its audited results for the year ended 31 March 2020 on 11 June 2020. There will be a webinar for financial analysts at 10:00 a.m. (UK time) on the day of results hosted by Chris Holmes and Chris Tanner, Co-lead Investment Advisers to JLEN. To register for the event, please contact Newgate Communications on +44 (0)20 3757 6880 or by email at JLEN@newgatecomms.com.

Presentation materials will also be posted on the Company's website, www.jlen.com, alongside JLEN's Annual Financial Report.

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 Chris Holmes	+44(0)20 3667 8100
Winterflood Investment Trusts  Neil Langford Chris Mills	+44(0)20 3100 0000
Newgate Communications Elisabeth Cowell Ian Silvera Megan Kovach	+44(0)20 3757 6880
Praxis Fund Services  Matt Falla	+44(0)1481 755530

About JLEN

JLEN's investment policy is to invest in environmental infrastructure projects that have the benefit of long-term, predictable, wholly or partially inflation-linked cash flows supported by long-term contracts or stable regulatory frameworks.

Environmental Infrastructure is defined by the Company as infrastructure projects that utilise natural or waste resources or support more environmentally-friendly approaches to economic activity. This could involve the generation of renewable energy (including solar, wind, hydropower and biomass technologies), the supply and treatment of water, the treatment and processing of waste, and projects that promote energy efficiency.

JLEN's aim is to provide investors with a sustainable, progressive annual dividend. The target dividend for the year to 31 March 2021 is 6.76 pence per share. The dividend is payable quarterly.

Further details of the Company can be found on its website www.jlen.com

LEI: 213800JWJN54TFBMBI68

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