JLEN Environmental Assets turns investment focus to current portfolio

(Alliance News) - JLEN Environmental Assets Group Ltd on Monday said it will focus its investment on its current portfolio "in light of the challenging macroeconomic environment".

The Guernsey-based environmental infrastructure investment fund said capital will be prioritised towards " existing commitments, planned follow-on investments and asset enhancements within the current portfolio".

The firm noted that it will also maintain focus on managing its revolving credit facility, to ensure the strength of its balance sheet and potential for future share buybacks.

It added that share buybacks require consideration due to the discount to net asset value that the firm's shares are trading at, which makes JLEN "an attractive investment opportunity".

JLEN publishes its results for the first half of its financial year on November 27.

JLEN shares rose 0.2% to 98.95 each on Monday morning in London.

By Harvey Dorset, Alliance News reporter

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