Foresight Portfolio Expands with New Ordinary Shares Issuance
Foresight Enterprise VCT PLC's Recent Equity Issuance
Foresight Enterprise VCT PLC is making headlines with its recent equity move. The Board has announced an additional allotment of Ordinary Shares, marking a significant step in the company’s investment strategy.
Details of the Share Allotment
In total, 460,707 Ordinary Shares, each valued at 1 penny, have been allotted as part of the company's ongoing offer for subscription. This strategic decision reflects the company’s strong performance and its aim to strengthen its capital base. The offer was initially laid out in the prospectus published by the company a few months back.
Pricing and Valuation of Shares
These shares were issued at a price range that correlates with the company's latest unaudited net asset value. The valuation is between 54.50 pence and 56.80 pence per share, which shows a positive trend in the company’s market performance. The effective pricing indicates a healthy interest from investors and confidence in the company’s future prospects.
Admission to Trading
Following the share allotment, there are significant plans in place for the official listing. The shares are set to be admitted to the Official List of the Financial Conduct Authority and will be available for trading on the market, signaling a robust marketplace alignment for future transactions.
Total Allotment Update
To date, Foresight Enterprise VCT PLC has issued a total of 53,236,750 Ordinary Shares under this subscription offer. After this latest allotment, the company now has an impressive total of 316,531,550 shares in circulation. This growth is indicative of the company's expanding reach and investor interest.
Conclusion of the Current Offer
In a further update, Foresight has announced that the current offer is officially closed. The fundraising effort has raised a substantial £30 million, with net proceeds reaching approximately £28.8 million after associated expenses. This influx of capital will assist in funding future projects and expanding the company's portfolio.
Contact for More Information
If you would like to learn more about this equity issue or Foresight Enterprise VCT PLC in general, please reach out to Gary Fraser at Foresight Group by calling 020 3667 8100. He will be happy to provide you with further details or answer any questions you may have.
Frequently Asked Questions
What is the significance of the new shares issuance by Foresight?
The new shares issuance signifies confidence in the company's growth and aims to enhance its capital base for future investments.
How many shares have been allotted in total?
A total of 53,236,750 Ordinary Shares have been allotted to date under the current offer.
What is the price range for the newly issued shares?
The shares were issued at a price range of 54.50 pence to 56.80 pence per share, reflecting the company's strong market position.
When will the shares be available for trading?
The shares are expected to be admitted for trading on the London Stock Exchange approximately on 14 April.
Who can I contact for more information about the shares?
You can contact Gary Fraser at Foresight Group at the provided phone number for more information on the equity issuance.
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