ProVen Growth and Income VCT plc Shares Allotment Announcement
ProVen Growth and Income VCT plc Shares Allotment Details
ProVen Growth and Income VCT plc has recently made significant strides concerning its equity structure. The company is at the forefront of ensuring that investors have ample opportunities to engage with its ongoing subscription offers.
Latest Allotment of Ordinary Shares
The Company announced an allotment of ordinary shares amounting to 1,540,601 with a nominal value of 1.6187p each. This notable event was executed as part of the offer for subscription that initially opened on a prior date. With an average price set at approximately 52.30p, the allotment reflects the company’s strong financial health as derived from its latest net asset value of 50.2p per share.
Understanding the Pricing Structure
It’s essential for investors to understand how pricing is determined in such allotments. The average allotment price of 52.30p signifies a calculated approach based on the company's current market valuation and performance metrics. This not only provides a favorable investment opportunity but also showcases the company's confidence in its future growth.
Admittance to Official List and Trading Platforms
ProVen Growth and Income VCT plc is preparing to submit an application to have the newly issued shares admitted to the Official List managed by the Financial Conduct Authority. Furthermore, these shares will also be made available for trading on the London Stock Exchange's market for listed securities, enhancing their accessibility to investors.
Key Information for Investors
Once the shares are officially listed, they will rank pari passu with the existing ordinary shares already held by investors. This means that the newly issued shares will carry the same rights and privileges as shares previously purchased, offering consistency in ownership for all shareholders.
Current Company Capital Overview
Following this recent allotment, the total issued share capital of ProVen Growth and Income VCT plc now stands at 323,183,166 ordinary shares. This reflects the company’s ongoing commitment to expanding its capital base and providing value to its investors.
Contacting ProVen Growth and Income VCT plc
For further inquiries or assistance, investors can reach out to Beringea LLP, the Company Secretary, via telephone at 020 7845 7820. It’s always wise for current and prospective investors to establish direct lines of communication with the Company for the latest updates and information.
Frequently Asked Questions
1. What is the significance of the recent share allotment?
The recent share allotment signals the company's efforts to raise capital and provide more investment opportunities for current and potential shareholders.
2. How are the shares priced during allotment?
The shares are priced based on their average market valuation, which reflects the company's financial performance and net asset value at the time of the allotment.
3. Will the newly issued shares have the same rights as existing shares?
Yes, the newly issued shares will rank pari passu with existing ordinary shares, meaning they hold the same rights and privileges.
4. Where will the shares be traded?
The shares will be traded on the London Stock Exchange’s market for listed securities, providing accessibility to investors.
5. Who can I contact for more information about the company?
Investors can contact Beringea LLP, the Company Secretary, at 020 7845 7820 for more information.
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