13
September 2024
JLEN Environmental Assets
Group Limited
Results of
AGM
JLEN Environmental Assets Group Limited ("JLEN" or the "Company") is pleased to announce that
at the Annual General Meeting ("AGM") held at 10:00 a.m. today, 13
September 2024, resolutions 1 through 15 inclusive were duly passed
without amendment, while resolution 16 was not passed.
In accordance with UKLR 6.4.13,
details of the results of those resolutions proposed at the AGM,
which were not ordinary business of the AGM, are as
follows:
Resolution
|
For
(including discretionary)
|
Against
|
Withheld*
|
11 - Special
|
407,079,301 (99.85%)
|
628,439 (0.15%)
|
667,334
|
12 - Special
|
406,783,864 (99.81%)
|
766,216 (0.19%)
|
788,994
|
13 - Special
|
406,802,155 (99.80%)
|
807,988 (0.20%)
|
763,931
|
14 - Special
|
378,593,006 (92.90%)
|
28,942,981 (7.10%)
|
803,087
|
15 - Special
|
399,837,768 (98.13%)
|
7,601,534 (1.87%)
|
899,772
|
16 - Special
|
29,599,295 (7.27%)
|
377,547,888 (92.73%)
|
540,343
|
*A
vote withheld is not a vote in law and is therefore not counted
towards the proportion of votes "for" or "against" the
Resolution.
The full wording of these
resolutions can be found below:
Resolution 11 - Special Resolution
THAT the interim dividend of 1.89
pence per Ordinary Share in respect of the period 1 April 2023 to
30 June 2023, the interim dividend of 1.89 pence per Ordinary Share
in respect of the period 1 July 2023 to 30 September 2023, the
interim dividend of 1.90 pence per Ordinary Share in respect of the
period 1 October 2023 to 31 December 2023 and the interim dividend
of 1.89 pence per Ordinary Share in respect of the period 1 January
2024 to 31 March 2024 declared by the Company be
approved.
Resolution 12 - Special Resolution
THAT, in accordance with Article 45
of the Articles of Incorporation of the Company (the "Articles"),
the Board may, in respect of dividends declared for any financial
period or periods of the Company ending prior to the annual general
meeting of the Company to be held in 2025, offer shareholders the
right to elect to receive further shares, credited as fully paid,
in respect of all or any part of such dividend or dividends
declared in respect of any such period or periods.
Resolution 13 - Special Resolution
THAT the Company be and is hereby
generally and unconditionally authorised in accordance with Section
315 of The Companies (Guernsey) Law, 2008 (as amended) (the
"Law") (subject to the UK
Listing Rules and all other applicable legislation and regulations)
to make market acquisitions (as defined in the Law) of its Ordinary
Shares in issue, provided that:
a. the
maximum number of Ordinary Shares hereby authorised to be purchased
is 14.99 per cent per annum of the Ordinary Shares in issue
immediately following the passing of this resolution;
b. the
minimum price (exclusive of expenses) which may be paid for an
Ordinary Share is 1 pence;
c. the
maximum price (exclusive of expenses) which may be paid for an
Ordinary Share shall be not more than the higher of (i) 5 per cent
above the average market value for the five business days prior to
the day the purchase is made and (ii) the higher of the price of
the last independent trade and the highest independent bid at the
time of the purchase for any number of the Ordinary Shares on the
trading venues where the purchase is carried out;
d. the
authority hereby conferred shall expire at the conclusion of the
next annual general meeting of the Company held in 2025 or 18
months from the date of this resolution, whichever is the earlier,
unless such authority is varied, revoked or renewed prior to such
time;
e. the
Company may make a contract to purchase Ordinary Shares under the
authority hereby conferred prior to the expiry of such authority
which will or may be executed wholly or partly after the expiration
of such authority and may make an acquisition of Ordinary Shares
pursuant to any such contract; and
f. any
Ordinary Share bought back may be held in treasury in accordance
with the Law or be subsequently cancelled by the
Company.
Resolution 14 - Special Resolution
THAT pursuant to Article 7.7 of the
Articles, the provisions of Article 7.2 of the Articles shall not
apply and shall be excluded in relation to the issue of up to an
aggregate number of Ordinary Shares as represents up to 10 per cent
of the number of Ordinary Shares admitted to trading on London
Stock Exchange plc's main market for listed securities immediately
following the passing of this resolution, provided that such
disapplication and exclusion shall expire on the date which is 18
months from the date of the passing of this resolution or, if
earlier, at the conclusion of the next annual general meeting of
the Company following the date of the passing of this resolution
(unless previously renewed, revoked or varied by the Company by
special resolution) save that the Company may before such expiry
make an offer or agreement which would or might require Ordinary
Shares to be allotted after such expiry and the Directors may allot
Ordinary Shares in pursuance of such an offer or agreement as if
the disapplication and exclusion conferred hereby had not
expired.
Resolution 15 - Special Resolution
THAT in accordance with section
25(2) of the Law, the name of the Company be changed to Foresight
Environmental Infrastructure Limited.
Change of company name
As a result of shareholders voting
in favour of Resolution 15, the Company's name will change to
"Foresight Environmental
Infrastructure Limited" (ticker: FGEN). A further update will be
provided in due course, once the change of name, ticker and website
have taken effect.
Resolution 16 - Special Resolution
THAT the Company ceases to continue
in its present form.
ENDS
For
further information and enquiries, please
contact:
Foresight Group
|
+44 (0)20 3667 8100
|
Chris Tanner
Ed Mountney
Wilna de Villiers
|
institutionalir@foresightgroup.eu
|
Winterflood Securities Limited
|
+44 (0)20 3100 0000
|
Neil Langford
|
|
SEC
Newgate UK
|
+44 (0)20 3757 6882
|
Elisabeth Cowell
Alice Cho
Harry Handyside
|
Jlen@secnewgate.co.uk
|
Sanne Fund Services (Guernsey) Limited
|
+44 (0)20 3530 3600
|
Matt Falla
Matt Lihou
|
|
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.