JLEN.L Regulatory News (JLEN)

15 August 2024

JLEN Environmental Assets Group Limited

("JLEN" or the "Company")

Share Repurchase Programme

JLEN, the listed environmental infrastructure fund, is pleased to announce that it is initiating a share repurchase programme to return up to £20 million to shareholders via on market share buybacks of the Company's ordinary shares (the "Shares"). The Share repurchase programme will be funded from the Company's own resources and is being launched in accordance with its stated approach to capital allocation following the partial disposal of a portfolio of anaerobic digestion assets, announced earlier today.

The share repurchase programme will be executed using the authority granted by shareholders at JLEN's 2023 annual general meeting ("AGM") on 8 September 2023 to acquire up to 14.99% of its issued share capital at that time. That authority will expire at the Company's next AGM, expected to be held during September 2024 and, to the extent required, the share repurchase programme will be continued using any renewal of such authority at the Company's 2024 AGM.

The maximum price payable per Share repurchased under the programme will not exceed the higher of: (i) 105% of the average middle market quotations for the five business days preceding the date of purchase; and (ii) the higher of the last independent bid and the highest current independent bid on the London Stock Exchange.

This arrangement is in accordance with Chapter 9 of the UK Listing Rules and the Company's general authority to repurchase shares.

A repurchase of Shares on any trading day may represent a significant proportion of the daily trading volume in the Shares (and could exceed the 25% limit of the average daily trading volume of the preceding 20 business days as referred to in the Commission Delegated Regulation (EU) No. 2016/1052 on buy-back programmes (as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018)).

Details of any Shares purchased pursuant to the share repurchase programme will be announced by the Company no later than 07:30 am on the business day following the day on which such purchase occurs. Any Shares repurchased by the Company will be cancelled or held in treasury.

Any Share repurchases will be at the sole discretion of the Board and there is no guarantee that the share repurchase programme will be implemented in full or that any Shares will be repurchased by the Company.

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About JLEN

JLEN's investment policy is to invest in a diversified portfolio of Environmental Infrastructure. Environmental Infrastructure is defined by the Company as infrastructure assets, projects and asset-backed businesses that utilise natural or waste resources or support more environmentally friendly approaches to economic activity, support the transition to a low carbon economy or which mitigate the effects of climate change. Such investments will typically feature one or more of the following characteristics:

· long-term, predictable cash flows, which may be wholly or partially inflation-linked cash flows;

· long-term contracts or stable and well-proven regulatory and legal frameworks; or

· well-established technologies, and demonstrable operational performance

JLEN's aim is to provide investors with a sustainable, progressive dividend per share, paid quarterly and to preserve the capital value of the portfolio over the long term on a real basis. The target dividend for the year to 31 March 2025 is 7.80 pence per share¹. The dividend is payable quarterly.

JLEN is an Article 9 fund under the EU Sustainable Finance Disclosure Regulation and has a transparent and award winning approach to ESG.

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

LEI: 213800JWJN54TFBMBI68

(1) These are targets only and not profit forecasts. There can be no assurance that these targets will be met or that the Company will make any distributions at all.