John Laing Environmental Assets Group has confirmed the board is proposing to issue up to 150 million new ordinary shares under a placing programme.

The company stated that it was considering a placing programme to enable the it to issue new ordinary shares either by way of a series of placings, further tap issuance or a combination of both when it published its interim results for the six months to the end of September on 23 November.

The net proceeds of any issuance undertaken pursuant to the placing programme will be used to repay amounts drawn under the facility and/or to fund acquisition opportunities in accordance with the company's investment policy, subject to the circumstances at the time of each Issue.