ProVen Growth and Income VCT Transitioning to New Equity Phase
ProVen Growth and Income VCT plc's Equity Allotment Announcement
ProVen Growth and Income VCT plc is a prominent investment company dedicated to generating growth and income for its shareholders. The company is embarking on an exciting new phase as it announces an allocation of equity to enhance its financial standing.
Details of the Allotment
Recently, the Directors of ProVen Growth and Income VCT plc have made a significant announcement regarding the allotment of ordinary shares. In a strategic move to bolster its capital, the Company has allotted 850,391 ordinary shares, each valued at 1.6187p, following the opening of an offer for subscription on 6 November 2024.
Understanding the Pricing Structure
The latest allotment took place at an average price of 52.68p per share, informed by a recent net asset value of 50.45p per ordinary share. This valuation reflects adjustments made for dividends, specifically the 1.25p that was paid to shareholders on 17 January 2025.
Impacts on Market and Trading
The shares resulting from this allotment are set to be officially listed on the Financial Conduct Authority's list and will be available for trading on the London Stock Exchange shortly. The inclusion of these shares alongside existing ordinary shares ensures that all shareholders continue to benefit equally.
Company Capitalization and Voting Rights
With this fresh allotment, ProVen Growth and Income VCT plc's total issued share capital now stands at 327,510,361 ordinary shares, reinforcing the company's will to enhance its growth trajectory while ensuring that the voting rights remain equitable among all shareholders.
Conclusion and Future Growth
This pivotal step marks ProVen Growth and Income VCT plc's commitment to maintaining a robust framework for its investors and stakeholders. With the new equity shares being issued, the company is well poised to drive further business growth and maintain shareholder confidence.
Beringea LLP
Company Secretary
Telephone 020 7845 7820
Frequently Asked Questions
What is the recent equity allotment by ProVen Growth and Income VCT plc?
The company allotted 850,391 ordinary shares at an average price of 52.68p.
When did the offer for subscription open?
The offer for subscription opened on 6 November 2024.
What is the net asset value per share?
The net asset value per ordinary share is currently 50.45p.
How does this allotment affect existing shareholders?
The new shares will rank pari passu with existing shares, ensuring equal benefits.
Who is the Company Secretary for ProVen Growth and Income VCT plc?
The Company Secretary is Beringea LLP, reachable at 020 7845 7820.
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