ProVen VCT plc Announces New Share Allotment
The directors of ProVen VCT plc are excited to announce a new issue of equity, demonstrating their commitment to growth and shareholder value.
Details of the Allotment
The recent allotment involves the issuance of 3,111,715 ordinary shares, valued at 10p each. This strategic move is part of the subscription offer which began on 6 November. Investors are looking forward to this opportunity to engage with the company's evolving financial landscape.
Pricing and Valuation Insights
The shares have been allotted at an attractive average price of 65.14p, reflecting the latest net asset value of 62.5p per share, adjusted post-dividend. This update illustrates the positive outlook held by the company and its team regarding continued financial performance.
Trading and Regulatory Compliance
In line with regulatory practices, the company plans to apply for the shares to be listed on the Official List maintained by the Financial Conduct Authority. This application is crucial for trading on the London Stock Exchange’s market for securities, further facilitating greater investor engagement.
Implications of Allotment
These newly allotted shares will rank pari passu with the existing ordinary shares, ensuring that they hold equal rights. Following this allotment, the total issued share capital of the company stands at 278,620,819 ordinary shares.
Company Contact Information
If you have any inquiries or need further clarification, don't hesitate to reach out to the company secretary. Beringea LLP can be contacted at 020 7845 7820 for any assistance you may require.
Frequently Asked Questions
What is the purpose of the recent share allotment?
The share allotment aims to enhance the company's financial resources and broaden shareholder engagement.
How many shares were allotted and at what price?
A total of 3,111,715 ordinary shares were allotted at an average price of 65.14p each.
When did the subscription offer open?
The offer for subscription began on 6 November prior to the recent allotment announcement.
What are the plans for the shares post-allotment?
Applications will be made for the shares to be admitted to the Official List and for trading on the London Stock Exchange.
Who should I contact for more information?
You can reach out to the company’s secretary, Beringea LLP, at 020 7845 7820 for any queries.
