Albion Technology & General VCT PLC Issues New Shares
Albion Technology & General VCT PLC is pleased to inform its shareholders about the latest development regarding its equity issuance. In line with its Dividend Reinvestment Scheme, as detailed in the Circular to shareholders, the company has recently allotted a total of 1,376,604 new Ordinary shares of 1 penny each. This event occurred shortly before a significant date, positioning the company for future growth and sustained shareholder satisfaction.
Details of the New Ordinary Shares
The new Ordinary shares were issued at a price of 68.93p each, calculated based on the company's most recent net asset value, which stood at 70.70p per share. After deducting a dividend of 1.77p per share, the pricing reflects the value shareholders can expect from their investments as they continue to nurture their financial interests through Albion Technology & General.
Admission to Trading
To ensure transparency and maintain a confident market presence, the company has taken steps to gain admission for the new Ordinary shares to the Official List of the Financial Conduct Authority. Moreover, these shares will also be available for trading on the London Stock Exchange's principal market for listed securities, with expected dealings to commence around early November.
Impact on Shareholder Value
This strategic issuance will increase the total number of Ordinary shares in circulation, bringing the total count to 411,081,989 Ordinary shares. Notably, out of these, 32,370,947 shares are held in treasury. Understanding the implications of these figures is crucial for current shareholders, particularly when calculating voting rights and interests in the company.
Understanding Voting Rights
With the addition of the new Ordinary shares, the total voting rights in Albion Technology & General now stands at 378,711,042. Shareholders are encouraged to use these figures as a reference point for determining whether they need to notify any changes related to their interests in accordance with the FCA’s Disclosure Guidance and Transparency Rules. This transparency is vital for maintaining trust and accountability within the company.
Contact Information
For those seeking further clarification or additional information, please do not hesitate to reach out to Vikash Hansrani, who serves as the Operations Partner at Albion Capital Group LLP. He can be contacted directly at 020 7601 1850 for personalized assistance regarding this recent equity issue or any other related inquiry.
Frequently Asked Questions
What were the reasons for issuing new equity?
The new equity issuance is part of Albion's Dividend Reinvestment Scheme, aimed at enhancing value for shareholders and ensuring robust financial health.
How will the new shares affect current shareholders?
The issuance increases the total shares in circulation, thus impacting voting rights and the overall market dynamics, which benefits shareholder interests in the long term.
When will the new shares commence trading?
The new Ordinary shares are expected to commence trading around early November, allowing shareholders to engage with their investments effectively.
How many total voting rights does the company have now?
After the issuance of the new Ordinary shares, the total voting rights in the company have now reached 378,711,042.
Who can shareholders contact for more information?
Shareholders can reach out to Vikash Hansrani, Operations Partner at Albion Capital Group LLP, for any inquiries related to this announcement.
