ProVen Growth and Income VCT plc Announces New Share Allotment

Author: Olivia Taylor Updated: 04-03-2025 07:30 AM

ProVen Growth and Income VCT plc Unveils New Ordinary Shares

ProVen Growth and Income VCT plc is making headlines with a significant announcement regarding its equity structure. This new development marks an important phase for the company and its stakeholders.

Details of the Allotment

The Board of Directors at ProVen Growth and Income VCT plc has announced the allotment of ordinary shares, with specific details revealing 2,878,630 shares being issued. This step follows the recent offer for subscription that began attracting attention back on 6 November 2024.

Average Pricing and Valuation

Each share is priced at an average of 52.82p, leveraging the latest net asset valuation of 50.45p per share as of the end of November 2024. It is important to note that this valuation has been adjusted to reflect a dividend of 1.25p that shareholders received in mid-January 2025.

Admission to Trading

Looking ahead, ProVen Growth and Income VCT plc plans to apply for these new shares to be admitted to the Official List of the Financial Conduct Authority. This move is designed to facilitate trading on the London Stock Exchange’s market for listed securities.

Significance of the Allotment

With the issuance of these new ordinary shares, the total issued share capital now stands at an impressive 325,029,264 shares. This milestone highlights ProVen's ongoing commitment to growth and its proactive approach in engaging with investors.

Contact Information

For inquiries regarding this announcement, shareholders and interested parties are encouraged to reach out to Beringea LLP, the Company Secretary. They can be contacted at 020 7845 7820 for any further details concerning the share allotment and other related matters.

Looking Forward

The ongoing developments at ProVen Growth and Income VCT plc showcase its strategic growth plans within the competitive market landscape. Investors looking at this stock, identified under the ticker LSE:PGOO, may find these updates indicative of the company’s future potential.

Frequently Asked Questions

What is the recent announcement made by ProVen Growth and Income VCT plc?

ProVen Growth and Income VCT plc has announced the issuance of new ordinary shares, enhancing its equity.

How many shares have been allotted?

A total of 2,878,630 ordinary shares have been allotted as part of their recent offer for subscription.

What is the average price for the newly issued shares?

The newly issued shares have an average price of 52.82p each.

What will happen next for these shares?

ProVen plans to seek admission for these shares to the Official List of the Financial Conduct Authority shortly.

Who can I contact for more information?

For further inquiries, please contact Beringea LLP, the Company Secretary, at 020 7845 7820.

About The Author

Olivia Taylor here, a 26-year-old writer and financial advisor. After earning a degree in finance, I worked in the sector for years. I've always loved numbers and had a talent for simplifying difficult financial ideas so that anyone could understand. I wrote my first book because of this passion; it helps readers take charge of their financial futures by fusing real-life stories with useful financial advice.

Whether they are just beginning their careers, preparing for significant life events, or seeking to invest wisely, my goal with my writing is to enable people to make educated financial decisions. The foundation of my work is the conviction that security and freedom of the individual are largely determined by financial literacy. To further financial education, I run workshops and frequently write for financial blogs in addition to my books.

I like to travel, experience other cultures, and find inspiration in daily life when I'm not writing or examining market trends. My passion is utilizing sound financial practices to help people reach their financial objectives and lead the best lives possible.

Contact Olivia Taylor privately here. Or send an email with ATTN: Olivia Taylor as the subject to contact@investorshangout.com.

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