JLEN Environmental Assets Group Ltd (JLEN)

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Half-year Report.

Financial highlights

· Portfolio valuation as at 30 September 2022 of £890.2m (31 March 2022: £795.4m)

· The Net Asset Value ("NAV") as at 30 September 2022 of £829.6m, equating to a NAV per ordinary share of 125.4 pence as at 30 September 2022 (31 March 2022: 115.3 pence)

· Post the balance sheet date the UK government announced plans for its "Electricity Generator Levy" that reduces the NAV to £822.6 million which equates to a NAV per share of 124.4 pence. Further details on this post balance sheet event are provided below

· A second interim dividend of 1.79 pence per share declared for the financial year to 31 March 2023 taking total dividends declared for the six months to 30 September 2022 to 3.57 pence, in line with the target set out in the 2022 Annual Report. Cash dividend cover of 1.64 times on dividends paid during the period

· Share price total return for the period since IPO of 92.4% (8.0% annualised)

· Overall fund gearing as at 30 September 2022 was 25.5% and £98.6m undrawn on RCF

https://www.investegate.co.uk/jlen-envi ... 00096950H/

Ian.

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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

https://www.investegate.co.uk/jlen-envi ... 00044605N/

Ian (No holding).

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Extension of Revolving Credit Facility.

The Board of JLEN Environmental Assets Group Limited ("JLEN" or the "Company"), is pleased to announce that it has signed a one-year extension to its existing £170 million Revolving Credit Facility ("RCF") and has activated its £30 million accordion facility, allowing the Company to pursue its pipeline of attractive environmental infrastructure opportunities.

The extended facility will reach maturity in May 2025 and the interest charged continues to be linked to the Company's ESG performance with the margins ranging between 195bps and 205bps over SONIA ('Sterling Overnight Index Average') for Sterling and Euro borrowings

https://www.investegate.co.uk/jlen-envi ... 00090085V/

Ian (No holding).