Albion Technology Announces Share Issuance and Voting Rights Update
Albion Technology & General VCT PLC Issues New Shares
Albion Technology & General VCT PLC, often referred to as the Company, has recently made a significant announcement regarding the issuance of new equity. This move is positioned as part of the company's ongoing efforts to optimize its capital structure and facilitate shareholder engagement. Following the stipulations laid out in their Dividend Reinvestment Scheme, the Company allotted 1,386,038 Ordinary shares. These shares represent a vital component in maintaining the equity balance while providing shareholders with further investment opportunities.
Details of the Share Allotment
The new Ordinary shares, comprising a nominal value of 1 penny each, were issued at a price of 71.68p per share. This valuation reflects the most recent net asset value after accounting for the dividend of 1.83p per share. This thoughtful pricing not only adds value for existing shareholders but also showcases the Company's commitment to stable and sustainable growth.
Expected Admission and Trading
The application for the admission of these new shares to the Official List of the Financial Conduct Authority has been submitted, paving the way for trading on the London Stock Exchange's main market. Dealings are anticipated to commence around July 1, enhancing liquidity and accessibility for current and prospective investors alike.
Current Share Structure and Voting Rights
Upon the issuance of the new shares, the overall capital of Albion Technology & General VCT PLC stands at 412,419,228 Ordinary shares. Out of these, a portion of 32,370,947 shares remains held in treasury. Such transparency in operations allows shareholders to gauge the Company's financial framework and make informed decisions moving forward.
Understanding Voting Rights
The total number of voting rights available within the Company has now reached 380,048,281. Shareholders can utilize these figures for calculating their interests under the FCA's Disclosure Guidance and Transparency Rules, underscoring the importance of maintaining compliance and engaging in responsible corporate governance.
Future of Albion Technology & General VCT PLC
As Albion Technology & General VCT PLC continues to adapt to market dynamics, these changes reflect its proactive approach toward enhancing shareholder value and transparency. Prospective investors now have an opportunity to become part of a growing entity that prioritizes long-term success and stakeholder engagement.
Contact Information for Further Inquiries
For more information regarding this announcement, stakeholders can reach out to Vikash Hansrani, Operations Partner at Albion Capital Group LLP. The direct contact number is 020 7601 1850. Having access to the right information is crucial for making investment decisions in a constantly evolving market, and the Company remains committed to keeping its shareholders informed.
Frequently Asked Questions
What is the purpose of the newly issued shares?
The newly issued shares aim to optimize the capital structure and support shareholder engagement through the Dividend Reinvestment Scheme.
When will the new shares be available for trading?
The shares are expected to commence trading on July 1, enhancing market activity for shareholders.
How many total shares does the Company have after this issuance?
After this issuance, Albion Technology & General VCT PLC has a total of 412,419,228 Ordinary shares.
What are the voting rights available after the new shares are issued?
The total voting rights available in the Company are now 380,048,281.
Who can shareholders contact for more information?
Shareholders can contact Vikash Hansrani at Albion Capital Group LLP at 020 7601 1850 for inquiries.
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