ProVen VCT plc Announces New Share Allotment for Growth

Author: Logan Wright Updated: 07-02-2025 05:58 AM

ProVen VCT plc: Key Details on Recent Share Allotment

ProVen VCT plc is making headlines with its recent announcement regarding the allotment of new ordinary shares. This exciting development comes as part of their ongoing strategy to enhance investment opportunities and bring more value to shareholders.

Understanding the Share Allotment

The Directors of ProVen VCT plc have announced that there has been a successful allotment of 1,823,214 ordinary shares, each valued at 10p. This particular allotment is in line with the offer for subscription that commenced on November 6, 2024. This tactical move is set to bolster the company's financial standing and overall market presence.

Pricing and Net Asset Value

The average price for the newly allotted shares is pegged at 65.32p. This rate is attractive, especially considering that it is based on the latest net asset value of 62.9p, which reflects the net asset value per ordinary share as of February 28, 2025. This strategic pricing is likely to attract more investment and interest from shareholders, aligning with ProVen VCT plc's growth objectives.

Implications for the Market

ProVen VCT plc is set to make an application for these shares to be included in the Official List of the Financial Conduct Authority. Additionally, they aim for these shares to be traded on the London Stock Exchange's market for listed securities. This move is particularly significant as it allows the company to enhance its visibility and attract a broader range of investors.

Ranking and Shareholder Benefits

Importantly, the newly allotted shares will rank pari passu with the existing ordinary shares. This means that existing shareholders will not see any dilution of their voting rights or economic interests; rather, it ensures that all shares are treated equally in terms of dividends and other distributions.

Current Share Capital Status

After the recent share allotment, the total issued share capital of ProVen VCT plc now stands at 282,591,336 ordinary shares. This figure not only speaks to the company's robust growth strategy but also reflects the confidence that investors have in its potential to generate returns.

Contact Information

For those interested in further details regarding this announcement, inquiries can be directed to Beringea LLP, the company secretary, via telephone at 020 7845 7820. Their team is ready to assist with any queries regarding the new allotment and its implications.

Frequently Asked Questions

What is the purpose of the recent share allotment by ProVen VCT plc?

The recent share allotment aims to enhance investment opportunities and strengthen shareholder value.

How many shares were allotted and at what price?

1,823,214 ordinary shares were allotted at an average price of 65.32p each.

Will the new shares affect existing shareholders?

No, the new shares will rank pari passu with existing shares, ensuring no dilution of rights for current shareholders.

When will the new shares be traded?

The application for trading on the London Stock Exchange will be made shortly.

Who can I contact for more information about the share allotment?

For inquiries, you can contact Beringea LLP, the company secretary, at 020 7845 7820.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

My books and writings are centered on simplifying difficult financial ideas into doable, understandable guidance. Whether it's retirement planning, investing, or budgeting, I want to arm readers with the information they need to make wise financial choices and realize their financial objectives.

Apart from writing, I also frequently post to financial blogs and organize webinars and workshops targeted at enlightening participants about personal finance. Always, my strategy is to offer concise, doable advice that can truly improve people's lives.

Away from work, I like to read, travel, and sample new foods. My goal is to infuse everything I do with the balance that I think is essential to both financial and personal well-being. By my profession, I want to encourage and enable people to confidently and clearly take charge of their financial futures.

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