Albion Enterprise VCT PLC Announces New Equity Issue
Albion Enterprise VCT PLC, often recognized for its strategic investment approaches, has recently made a significant announcement regarding the issuance of new shares. As part of its Dividend Reinvestment Scheme, the company has successfully allotted 416,507 ordinary shares at a price of 132.96 pence each. This move reflects the company's ongoing commitment to providing value to its shareholders and leveraging its capital effectively.
Details of the New Ordinary Shares
The new ordinary shares, issued at a price that reflects the most recent net asset value minus the dividend of 3.14 pence per share, are expected to enhance the overall financial standing of Albion Enterprise VCT PLC. The Capital is primarily made up of smaller contributions from investors keen on benefiting from the adaptive strategies employed by the firm.
Trading and Admission to Official List
Applications have been made to the UK Listing Authority for the admission of these newly issued ordinary shares to the Official List and to facilitate trading on the London Stock Exchange. This move is expected to encourage more active trading in the shares, with dealings anticipated to commence soon. The strategic timing of the share issuance is in line with market expectations and demonstrates proactive management from the company's leadership.
Impact on Capital Structure
Following this issuance, the total capital of Albion Enterprise VCT PLC stands at 129,223,229 ordinary shares, which notably includes 17,733,730 shares currently held in treasury. This careful management of capital structure allows the company to navigate market fluctuations effectively, ensuring robust financial performance and shareholder value.
Total Voting Rights
With the new equity in play, the total number of voting rights in Albion Enterprise VCT PLC has been stated as 111,489,499. These voting rights are crucial as they serve as a denominator for shareholders who are required to notify changes in their interests under the FCA's Disclosure Guidance and Transparency Rules.
Contact Information for Inquiries
For any further inquiries regarding these developments, stakeholders and interested parties are encouraged to reach out to Vikash Hansrani, Operations Partner at Albion Capital Group LLP. He can be contacted directly at 020 7601 1850.
Frequently Asked Questions
What are the details of the new shares issued by Albion Enterprise VCT PLC?
Albion Enterprise VCT PLC issued 416,507 new ordinary shares at a price of 132.96 pence each as part of its Dividend Reinvestment Scheme.
When will the new shares start trading on the stock exchange?
The new shares are expected to commence trading on the London Stock Exchange on September 2, 2024.
How many total shares are currently in circulation for the company?
The total capital post-issuance stands at 129,223,229 ordinary shares.
What is the significance of the total voting rights announced?
The total voting rights have been calculated at 111,489,499, which shareholders may use to determine interests for regulatory compliance.
Who can be contacted for more information about the equity issue?
For further details, stakeholders can contact Vikash Hansrani at Albion Capital Group LLP, reachable at 020 7601 1850.
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