(Alliance News) - The board of JLEN Environmental Assets Group Ltd on Tuesday announced plans to change the firm's investments policy that would allow it to make investments at an earlier stage.
"The board is proposing to allow the company to invest up to 5% of net asset value in environmental infrastructure which is in its development phase," JLEN explained. It added that it would allow the company to make investments at an earlier stage and potentially benefit "from the higher returns available for development phase environmental infrastructure as compared to those brought to the market as 'shovel ready' projects."
Further, "the proposed changes would also permit the company to invest in environmental infrastructure developers and development funding structures relating to environmental infrastructure, where the rights to invest in or acquire environmental infrastructure often sit, rather than at the level of projects or assets themselves".
The company argues that the changes would improve its competitive position "in respect of acquisition opportunities, through engaging with carefully selected partners and seeking secure access to a further pipeline of investment opportunities which may otherwise not be available or which would be subject to a competitive process".
Shareholders will vote on the special resolution at the environmental infrastructure investment fund's annual general meeting on September 1.
JLEN Environmental shares were 0.3% higher at 133.20 pence each in London on Tuesday afternoon.
By Tom Budszus; tombudszus@alliancenews.com
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