Albion Development VCT PLC Expands Capital with New Shares
Albion Development VCT PLC Announces New Share Allotment
Albion Development VCT PLC is excited to share significant news regarding its recent equity issuance. As part of the ongoing Dividend Reinvestment Scheme, the Company has allotted a total of 601,452 new ordinary shares, each valued at 1 penny. This issuance occurred on the 30th of September 2024, and the shares were priced at 93.51 pence each. This price reflects the latest net asset value, adjusted for a dividend payout of 2.40 pence per share.
Details of Share Issuance
The announcement follows the procedures that were outlined in a Circular provided to shareholders several years ago. With this issuance of new ordinary shares, Albion Development VCT PLC has applied to the UK Listing Authority for inclusion of these shares in its Official List, allowing for seamless trading on the main market of the London Stock Exchange. The expected start date for trading these shares is the 1st of October 2024.
Impact on Capital Structure
As a result of this new issuance, the capital of Albion Development VCT PLC has been updated as of the 30th of September 2024. The Company now boasts a total of 167,999,646 ordinary shares, including 19,309,045 shares currently held in treasury. This capital structure is vital for maintaining liquidity and supports the Company's investment strategies moving forward.
Understanding Voting Rights
This equity issuance also affects the voting rights within the Company. Following the new shares' allotment, Albion Development VCT PLC now holds a total of 148,690,601 voting rights. This number is essential for shareholders and other stakeholders, as it serves as a baseline for determining when they must disclose their interests and any changes to these interests in accordance with the FCA's Disclosure Guidance and Transparency Rules.
Contact Information
For anyone seeking further details or clarification regarding this announcement, they can reach out to Vikash Hansrani, the Operations Partner at Albion Capital Group LLP, who can be contacted by phone at 020 7601 1850. His expertise will help navigate any queries related to this share issuance and its implications.
Frequently Asked Questions
What is the significance of the new share issuance by Albion Development VCT PLC?
The new share issuance allows the Company to raise additional capital, which supports its investment strategy and contributes to shareholders' interests.
When did the new shares become available for trading?
The new ordinary shares are expected to commence trading on the London Stock Exchange on the 1st of October 2024.
What are the total voting rights following the new share issuance?
Following the issuance, the total number of voting rights stands at 148,690,601.
How does this affect existing shareholders?
Existing shareholders will see their interests slightly diluted; however, the total capital raised supports the Company's growth and positive future prospects.
Who can I contact for more information about this announcement?
Vikash Hansrani, Operations Partner at Albion Capital Group LLP, is available at 020 7601 1850 for additional inquiries.
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