Result of Placing

RNS Number : 4746Z

John Laing Environmental Assets Grp

27 May 2016

 

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.

27 May 2016

John Laing Environmental Assets Group Limited

Result of the Placing

Further to the announcement on 12 May 2016, John Laing Environmental Assets Group Limited ("JLEN" or the "Company") announces that it has raised gross proceeds of £35.19 million through the issue of 36,000,000 ordinary shares of no par value in the Company ("Ordinary Shares") at 97.75 pence per Ordinary Share pursuant to its existing placing programme (the "Placing").

The net proceeds of the Placing will be used to repay amounts drawn down on the Company's revolving credit facility.

Applications have been made for a total of 36,000,000 Ordinary Shares (the "New Shares") 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 1 June 2016.

The New Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid save for the dividend payable on 24 June 2016 to shareholders on the register on 20 May 2016.  The New Shares will be entitled to the dividend for the quarter to 30 June 2016, which is expected to be paid in September 2016.

Following Admission, the Company expects to have 260,356,435 Ordinary Shares in issue. The total number of voting rights of the Company will be 260,356,435 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.

The prospectus in connection with the placing programme was published on 4 June 2015 and can be found on JLEN's website at www.jlen.com (the "Prospectus"). Unless otherwise defined, capitalised words and phrases in this announcement shall have the meaning given to them in the Prospectus.

For further information please contact:

John Laing Capital Management Limited David Hardy Chris Tanner	[phone]
Winterflood Investment Trusts Neil Langford Chris Mills	[phone]

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.

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 Placing, 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.

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.

 

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