Pembroke VCT Enhances Shareholder Value with New Issuance
Pembroke VCT plc has made a significant move by allotting 5,061,629 B Ordinary Shares through its current subscription offer, targeting a potential raise of £60 million in capital. These shares were priced between 102.23p to 108.24p, based on the unaudited net asset value from the end of September 2024. This latest offering increases the total number of B Ordinary Shares in circulation to 228,094,085, each share holding voting rights that empower shareholders.
Planned Admission to the London Market
The newly issued shares have been submitted for admission to the Official List managed by the Financial Conduct Authority. Additionally, they will be listed for trading on the London Stock Exchange's main market, with trading expected to begin around mid-December. Shareholders can look forward to receiving credits in their CREST accounts post-allotment, with definitive title documents expected to follow within a span of ten business days.
Growth through Strategic Capital Raising
This latest allotment marks an important milestone, bringing the total B Ordinary Shares issued under the ongoing offer to 11,062,900. The offer incorporates an over-allotment facility, designed to bolster the company’s financial standing and provide ample capital for future investments.
Commitment to Shareholder Growth
Pembroke VCT's recent financial strategy aligns with its goal of expanding its investment portfolio while presenting growth opportunities for its shareholders. By adhering to the FCA's Disclosure Guidance and Transparency Rules, the company ensures that it maintains transparency regarding shareholder changes and financial undertakings.
Frequently Asked Questions
What is the purpose of issuing new B Ordinary Shares?
The issuance aims to raise capital to support Pembroke VCT's investment ventures and provide growth opportunities for shareholders.
When will trading for the new shares begin?
Trading is expected to commence around mid-December, following the shares' admission to the London Stock Exchange.
How many total B Ordinary Shares are now issued?
With the latest issuance, the total B Ordinary Shares in circulation has reached 228,094,085.
What is the range of the issue prices for the new shares?
The newly issued shares were priced between 102.23p and 108.24p, based on a recent asset valuation.
What can shareholders expect after the allotment?
Shareholders will receive credits in their CREST accounts shortly after allotment, and definitive title documents should arrive within ten business days.
