John Laing Environmental Assets Group Limited has noted that on 21 June John Laing Group plc announced the conditional sale of its project management services activities in the UK to HCP Management Services.

The announcement explains that 62 of John Laing's management services agreements will, subject to John Laing obtaining consents at project level, transfer to HCP as part of the sale.

In respect of JLEN's portfolio as at 31 March, John Laing provided MSA services to 11 of JLEN's UK based environmental infrastructure asset projects, each under a separate MSA agreement.

The provision of such services includes the management of sub-contractors/service providers, the provision of commercial support, company secretarial and financial administrative services and oversight and management of financial operations.

Subject to completion of the transaction, the MSA service provision will be provided by HCP under the terms of the existing MSAs.

The services provided under the MSAs are separate to the services provided to JLEN by John Laing Capital Management Limited, a subsidiary of John Laing and the Company's Investment Adviser, under an Investment Advisory Agreement, which will continue to be provided by JLCM.


At 3:00pm: (LON:JLEN) John Laing Environmental Assets Group share price was +1.5p at 98.25p