ProVen Growth and Income VCT plc Expands Share Capital Significantly

Author: Evelyn Baker Updated: 03-17-2025 09:46 AM

ProVen Growth and Income VCT plc Strengthens Its Position

ProVen Growth and Income VCT plc, often referred to simply as the Company, recently marked a significant milestone in its journey by announcing a new allotment of ordinary shares. This strategic move is part of their ongoing efforts to enhance their equity offerings and support future growth initiatives.

Details of the Share Allotment

On a noteworthy date, the Directors of ProVen Growth and Income VCT plc officially declared the allotment of 6,491,615 ordinary shares at a price of 52.78p per share. This determination follows the subscription offer that commenced just a few months prior, on 6 November 2024. This initiative reflects a confident step towards strengthening the company's financial base.

Financial Insights

The shares were allotted based on the latest net asset value of 50.45p per share as of 30 November 2024, taking into account a dividend payout of 1.25p made on 17 January 2025. This careful financial management showcases the Company’s commitment to maximizing value for its shareholders.

Next Steps for the Company

As part of the regulatory process, ProVen Growth and Income VCT plc will be submitting an application for these newly issued shares to be listed on the Official List of the Financial Conduct Authority. Additionally, trading on the London Stock Exchange's market for listed securities will follow. This development marks a vital step towards integrating the new shares into the broader market.

Shareholder Relations and Future Prospects

Importantly, the newly allotted shares are positioned to rank pari passu with the existing ordinary shares. This means that they will hold equal status and rights amongst current shareholders, reinforcing fairness and transparency in share ownership. With an updated total of 318,914,605 ordinary shares, the Company is poised to enhance its visibility and attractiveness in the financial realm.

Company Communication

For stakeholders seeking insights or clarification regarding these developments, the Company Secretary, Beringea LLP, remains a vital point of contact. Interested parties can utilize the following telephone number for inquiries: 020 7845 7820. It is through such consistent communication that ProVen Growth and Income VCT plc aims to maintain robust relations with its shareholders.

Frequently Asked Questions

What is the recent share allotment by ProVen Growth and Income VCT plc?

The Company announced an allotment of 6,491,615 ordinary shares at 52.78p each as part of their equity offerings.

How does the share allotment impact existing shareholders?

The newly issued shares will rank pari passu with the existing shares, meaning all shareholders have equal rights.

What is the purpose of this allotment?

This move aims to strengthen the Company's financial base and support future growth initiatives.

Who can I contact for more information about this development?

Shareholders can reach out to Beringea LLP, the Company Secretary, at 020 7845 7820 for any inquiries.

Where will the new shares be traded?

Application will be made for the shares to be listed on the Official List and traded on the London Stock Exchange.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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