Hargreave Hale AIM VCT PLC Announces Share Allotment Details
Hargreave Hale AIM VCT PLC Share Allotment Overview
Hargreave Hale AIM VCT PLC has made significant strides recently as it took the important step of allotting new shares. For those following the developments at Hargreave Hale, this article will provide insights into the specifics of the share allotment and what it means for stakeholders.
Details of the Share Allotment
On a recent date in April 2025, the Board of Hargreave Hale AIM VCT PLC revealed that it had completed the allotment of 5,157,528 new ordinary shares. This initiative was part of a broader effort to raise funds, with the company initially announcing a prospectus aimed at generating up to £20,000,000 for the offer of subscription of ordinary shares.
Pricing and Its Implications
The newly allotted ordinary shares were priced at 36.35 pence per share. This price was determined based on the net asset value as of the end of March 2025, adjusted slightly to account for offering costs. Each ordinary share, upon being issued, will rank equally with existing shares, reinforcing the company's commitment to equitable shareholder treatment.
Admission to Trading
Following this allotment, the company is expected to move forward with an application for these shares to be admitted to the premium segment of the Official List of the Financial Conduct Authority. Trading for these shares on the London Stock Exchange’s main market is anticipated to commence shortly after their admission.
Total Shares and Voting Rights
With the inclusion of these new shares, Hargreave Hale will see its total issued shares rise to 372,768,462. Each share carries one vote, meaning the voting rights in the company will also increase correspondingly. This move is essential for enabling shareholders to keep track of their interests in the company’s capital structure.
Management Engagement
Oliver Bedford, a director at Hargreave Hale, significantly invested in the company as he was allotted 69,462 new ordinary shares. His total holdings now reflect a meaningful interest within the company’s issued share capital, emphasizing the commitment of management to align with shareholder interests.
Future Steps for Investors
Investors should keep a close eye on the developments as the company prepares to dispatch definitive documents regarding the share allotment within a specific timeframe, further ensuring clarity and transparency in ownership. Additionally, these shares will be eligible for settlement through CREST immediately after admission.
Communication and Transparency
The company remains dedicated to transparency and has noted that terms outlined in the later shared prospectus documents will apply to this announcement as well. This approach underlines the importance Hargreave Hale places on keeping its investors informed about critical developments.
Frequently Asked Questions
What is Hargreave Hale AIM VCT PLC?
Hargreave Hale AIM VCT PLC is an investment company focused on providing returns to its shareholders through investments in smaller UK companies.
What was the purpose of the recent share allotment?
The share allotment was aimed at raising up to £20,000,000 to boost the company’s capital and enhance its investment strategy.
What is the price of the newly allotted shares?
The newly allotted shares were priced at 36.35 pence each, reflecting the net asset value adjusted for costs.
When is trading expected to commence for the new shares?
Trading for the newly allotted shares on the London Stock Exchange is expected to commence shortly after their admission.
How will the share allotment affect voting rights?
With the new shares, the total number of ordinary shares will increase, thereby increasing the overall voting rights within the company, important for shareholder engagement.
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