ProVen Growth and Income VCT plc Shares Transaction Update
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ProVen Growth and Income VCT plc Announces Share Transaction
ProVen Growth and Income VCT plc has taken a significant step by purchasing its own shares for cancellation. This strategic move reflects the company's commitment to managing its capital effectively and demonstrates its ongoing efforts to enhance shareholder value.
Details of the Share Purchase
In this recent share transaction, ProVen Growth and Income VCT plc has confirmed the acquisition of shares on a specific date. This process involved the purchase of a substantial number of shares, indicating a focus on capital management.
Share Characteristics
The purchased shares are classified as ordinary shares, each with a nominal value. The company acquired over 1 million shares, highlighting its proactive stance in adjusting its capital structure. The price paid per share was set at a competitive rate, demonstrating the company's intention to optimize its market position.
Impact on Shareholder Value
The share cancellation process is significant as it reduces the number of shares in circulation. By doing so, ProVen Growth and Income VCT plc aims to increase the value of the remaining shares, which can benefit existing shareholders. This decision showcases the company's dedication to improving its overall market performance and providing better returns to its investors.
Company Information
Beringea LLP serves as the Company Secretary, overseeing important functions and supporting shareholder communications. For any inquiries, interested parties can reach out via the provided contact number.
Frequently Asked Questions
What is the reason behind ProVen Growth and Income VCT plc's share buyback?
The buyback reflects the company's strategy to manage its capital actively and enhance shareholder value through share cancellation.
How many shares did ProVen Growth and Income VCT plc acquire?
The company purchased 1,127,958 ordinary shares as part of this transaction.
What was the price per share during the buyback?
The price paid per share was 50.54p, representing a strategic decision based on market conditions.
What are the benefits of share cancellation for shareholders?
Share cancellation reduces the number of shares outstanding, which can increase the value per share for remaining shareholders, enhancing their investments.
How can shareholders get in touch with ProVen Growth and Income VCT plc?
Shareholders can contact Beringea LLP, the Company Secretary, by calling 020 7845 7820 for assistance and inquiries.
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