Northern 2 VCT PLC Completes Share Buyback of 815,198 Shares
Northern 2 VCT PLC Announces Share Buyback Initiative
Northern 2 VCT PLC has made a significant update regarding its share repurchase activities. On a recent date, the Company executed a transaction for the cancellation of 815,198 ordinary shares, each valued at 5p, priced at 52.73p per share. This strategic decision reflects the Company’s ongoing commitment to enhancing shareholder value and optimizing its capital structure.
Details of the Share Purchase
This repurchase represents about 0.37% of the total issued ordinary share capital of Northern 2 VCT PLC, which currently stands at 220,381,154 shares. Following this buyback, the Company maintains a substantial number of shares in circulation, affirming its position in the market.
Understanding the Share Capital
The Company’s capital structure consists of 220,381,154 ordinary shares with a nominal value of 5p each, all of which possess voting rights. Importantly, Northern 2 VCT PLC does not hold any treasury shares, ensuring that all shares continue to maintain their full voting capabilities.
Impact on Shareholders
For shareholders, this move is notable as it directly affects the calculation of voting rights. The total number of voting rights available now stands at 220,381,154. Shareholders can utilize this figure in determining if they need to disclose any changes in their voting rights related to their holdings in Northern 2 VCT PLC, complying with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
Company Insights
Northern 2 VCT PLC is part of a broader strategy to enhance financial performance and deliver value to its investors. The Company has been actively engaged in exploring opportunities that bolster its market presence and strengthen investor confidence.
Continuing Engagement with Shareholders
The management, led by Sarah Williams and James Sly at Mercia Fund Management, is committed to transparent communication regarding corporate strategies and market developments. For any inquiries about the recent share buyback or other matters, shareholders are encouraged to reach out at 0330 223 1430.
Future Directions
As Northern 2 VCT PLC moves forward, it remains focused on reinforcing its investment strategy while fostering a strong relationship with its shareholders. This share repurchase is a testament to the Company’s proactive approach to managing its portfolio and delivering long-term value.
Frequently Asked Questions
What shares did Northern 2 VCT PLC buy back?
Northern 2 VCT PLC repurchased 815,198 ordinary shares as part of its share buyback program.
What percentage of shares does the buyback represent?
The buyback accounts for approximately 0.37% of the Company’s total issued ordinary share capital.
How many shares are currently in circulation?
There are still 220,381,154 ordinary shares in circulation after the buyback.
Who can be contacted for inquiries about the buyback?
Shareholders can reach Sarah Williams or James Sly at Mercia Fund Management by calling 0330 223 1430.
Are the bought-back shares held in treasury?
No, Northern 2 VCT PLC does not hold any ordinary shares in treasury.
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