ProVen Growth and Income VCT plc Shares Allotment Update
ProVen Growth and Income VCT plc: Equity Update
ProVen Growth and Income VCT plc (the “Company”) is making headlines with recent developments related to its equity issuance.
Recent Allotment of Shares
On 10 October 2024, the Directors of ProVen Growth and Income VCT plc announced the successful allotment of ordinary shares under their ongoing offer for subscription. This offer opened on 16 January 2024, and a total of 3,129,865 Ordinary Shares were allotted at an average price of 55.2p each. The pricing was influenced by the company's latest net asset value, which stood at 53.2p following necessary adjustments for dividend payouts.
Understanding the Share Issuance
These Ordinary Shares, set at a nominal value of 1.6187p each, will hold equal standing with the existing shares. This means they will rank pari passu, ensuring that new shareholders are on the same level as those who invested earlier.
Future Plans for the Allotted Shares
Once operational procedures are complete, the Company will seek admission of the newly issued shares to the Official List of the Financial Conduct Authority. This step is crucial as it grants the new shares visibility and access on the London Stock Exchange, boosting liquidity for current and future investments.
Total Share Capital Overview
In light of these recent allotments, the Company’s issued share capital has now reached 318,130,913 Ordinary Shares. This strong figure reflects the Company’s commitment to expand and attract new investors.
Closure of the Subscription Offer
In alignment with the previous announcements made on 10 June 2024, the combined offer for subscription which included both ProVen Growth and Income VCT plc and ProVen VCT plc officially closed on 27 September 2024, at 3 PM BST.
Investor Communication
Investors interested in this allotment or future stock offerings should stay tuned for further communications from the company regarding updates and performance. The Company Secretary, Beringea LLP, is available for inquiries at 020 7845 7820.
Frequently Asked Questions
What is the purpose of the recent share allotment?
The recent share allotment aims to enhance the capital base of ProVen Growth and Income VCT plc, facilitating further investment and growth opportunities.
How does the allotment affect current shareholders?
The newly allotted shares rank equally with existing shares, meaning current shareholders maintain their proportional ownership in the Company.
When was the offer for subscription closed?
The combined offer for subscription closed on 27 September 2024, at 3 PM BST.
Who can I contact for more information?
Investors can reach out to the Company Secretary, Beringea LLP, at 020 7845 7820 for any inquiries or detailed information.
What is the stock ticker for ProVen Growth and Income VCT plc?
The stock ticker for ProVen Growth and Income VCT plc is LSE:PGOO, which investors can use to track the company’s market activity.
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