ProVen VCT plc Announces New Equity Allotment for Growth
ProVen VCT plc Announces New Equity Allotment
The company, ProVen VCT plc, is thrilled to announce its latest equity allotment aimed at enhancing its growth strategies and investment portfolio.
Details of the Allotment
In this recent development, the Directors reveal that 1,823,214 ordinary shares of 10p each, referred to as "Ordinary Shares", have been allotted. This follows an offer for subscription that began earlier.
The shares were allotted at an average price of 65.32p, informed by the most recent net asset value of 62.9p as of the end of February. This strategic move underscores the company's commitment to maintaining a robust capital structure.
Market Engagement and Future Plans
ProVen VCT plc is set to apply for these shares to be listed officially on the market, specifically with the Financial Conduct Authority and for trading on the London Stock Exchange's listed securities market. Such actions will bolster the company's presence and credibility in the financial sector.
Investors can be assured that these newly allotted shares will hold the same status as the existing ones, contributing to the total issued share capital of 282,591,336 Ordinary Shares, thereby reinforcing the organization’s growth trajectory.
About ProVen VCT plc
ProVen VCT plc, with ticker LSE:PVN, focuses on delivering attractive returns through a well-managed investment strategy. The company operates with a commitment to enhancing shareholder value while ensuring alignment with market conditions and investor interests.
As a venture capital trust, ProVen VCT plc invests in dynamic and scalable businesses that demonstrate potential for significant growth, aiming to positively impact both society and investors.
Contact Information
For further information, you can reach out to Beringea LLP, the Company Secretary, at 020 7845 7820. The team is available to assist with inquiries regarding this allotment or general company affairs.
Frequently Asked Questions
What is the significance of the recent equity allotment?
The allotment aims to strengthen ProVen VCT plc's capital base and support future investments in growth-oriented companies.
How many shares have been allotted in this round?
A total of 1,823,214 ordinary shares were allotted during this recent equity round.
At what average price were the shares allotted?
The allotted shares were issued at an average price of 65.32p each.
When will these shares be listed on the market?
ProVen VCT plc plans to apply for the shares to be admitted to the official list and trading shortly.
How many total ordinary shares are currently issued?
The total issued share capital stands at 282,591,336 ordinary shares, maintaining the company's strategic growth approach.
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