JLEN Regulatory News (JLEN)

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA.

10 July 2015

John Laing Environmental Assets Group Limited

Result of Issue - Significantly Oversubscribed

Further to the announcement on 4 June 2015, the Board of John Laing Environmental Assets Group Limited ("JLEN" or the "Company") is pleased to announce that it has successfully raised gross proceeds of £60 million through the issue of 59,405,940 ordinary shares of no par value in the Company ("Ordinary Shares") at 101 pence per Ordinary Share pursuant to the Placing and Offer for Subscription (the "Issue"). A total of 53,332,602 Ordinary Shares will be issued pursuant to the Placing and 6,073,338 Ordinary Shares will be issued pursuant to the Offer for Subscription.

The net proceeds of the Issue will be used to repay amounts drawn down on the Company's revolving credit facility and to fund pipeline opportunities.

In light of investor demand the Company has also elected to undertake a first close under its Placing Programme for £5 million through the issue of 4,950,495 Ordinary Shares at 101 pence per Ordinary Share. The first closing of the Placing Programme occurred concurrently with the closing of the Placing. The net proceeds from the first closing of the Placing Programme are expected to be used to fund an acquisition that is expected to complete in the near term, having previously been anticipated for later in 2015. Further details will be announced in due course.

The Issue and first closing of the Placing Programme were significantly oversubscribed and applications have been scaled back in accordance with the terms set out in the Company's prospectus published on 4 June 2015 (the "Prospectus").

Applications have been made for a total of 64,356,435 Ordinary Shares (the "New Shares") to be issued pursuant to the Issue and the first closing of the Placing Programme to be admitted to the premium segment of the Official List of the UK Listing Authority and to trading on the main market of the London Stock Exchange ("Admission"). Admission is expected to occur at 8.00 a.m. on 15 July 2015.

The New Shares will, when issued, be credited as fully paid and rank pari passu with the existing Ordinary Shares, including the right to receive all future dividends and distributions declared, made or paid.

Winterflood Securities Limited is acting as sole sponsor, financial adviser and bookrunner to the Company pursuant to the Issue.

Richard Morse, Chairman of JLEN, said:

"We are delighted by the response from investors and believe the success of this fundraising reflects the underlying strength of our diversified asset portfolio and the strong pipeline of opportunities available to the Company. We would like to thank existing shareholders for their ongoing support as well as welcoming new investors in JLEN."

Unless otherwise defined, capitalised words and phrases in this announcement shall have the meaning given to them in the Prospectus.

Following Admission, the Company expects to have 224,356,435 Ordinary Shares in issue. The total number of voting rights of the Company will be 224,356,435 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

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Important information

This announcement does not constitute a prospectus relating to the Company and does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company in any jurisdiction nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with or act as any inducement to enter into, any contract therefor.

Recipients of this announcement who are considering acquiring shares in the Company are reminded that any such acquisition must be made only on the basis of the information contained in the Prospectus and any supplement or supplements thereto which may be different from the information contained in this announcement.

Winterflood Securities Limited ("Winterflood"), which is authorised and regulated by the Financial Conduct Authority, is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Winterflood or advice to any other person in relation to the matters contained herein.

The shares of the Company have not been, nor will they be, registered under the US Securities Act of 1933, as amended, or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Australia, Canada, Japan, New Zealand or South Africa. Further, the Company has not been and will not be registered under the US Investment Company Act of 1940, as amended. Subject to certain exceptions, the shares of the Company may not be offered or sold in any member state of the EU other than the United Kingdom, the United States of America, Canada, Australia, Japan, New Zealand or South Africa or to or for the account or benefit of any national, resident or citizen of any member state of the EU other than the United Kingdom, Canada, Australia, Japan, New Zealand or South Africa or any person located in the United States. The Issue, the Placing Programme and the distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

This announcement may include "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, strategy, plans, proposed acquisitions and objectives are forward-looking statements. Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These forward-looking statements speak only as at the date of this announcement. The Company, the Investment Adviser and Winterflood expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Prospectus Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.

Apart from the responsibilities and liabilities, if any, which may be imposed by the Financial Services and Markets Act 2000 or the regulatory regime established thereunder, none of the Company, the Investment Adviser or Winterflood nor any of their respective affiliates accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith. The Company, the Investment Adviser and Winterflood and their respective affiliates accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.