Hargreave Hale AIM VCT PLC Announces Allotment of Shares
Hargreave Hale AIM VCT PLC has made a significant move today by allotting 1,474,949 Ordinary Shares through its Dividend Reinvestment Scheme ("DRIS") to its shareholders. This initiative allows those who opted in to receive additional shares instead of cash dividends, signaling the company's commitment to enhancing shareholder value.
Details of the Allotment
Shareholders who took advantage of the DRIS have received Ordinary Shares rather than the interim dividend of 0.75 pence per share alongside a special dividend of 0.50 pence per Ordinary Share. The allotment price for these shares was set at 35.06 pence per Ordinary Share, reflecting the last ex-dividend net asset value calculated at the close of business on a specified date earlier this month.
Upcoming Market Activities
The newly allotted shares are set to be officially listed and traded on the London Stock Exchange's main market. Once this process is completed, expected around early August, shareholders will be able to trade their shares actively in the market. This prospect is not just exciting for the company but also for investors looking to engage more deeply with their investments.
Director Allotments Under DRIS
Among the shareholders, notable participants included Justin Ward, a Person Discharging Managerial Responsibility (“PDMR”), who received 1,895 shares, and Elizabeth Ward, a Person Closely Associated (“PCA”), who acquired 739 shares. This allotment indicates ongoing confidence in the company's direction and growth potential, with both directors significantly increasing their holdings.
Understanding DRIS and its Implications
The Dividend Reinvestment Scheme is a vital tool for fostering a longer-term investment approach among shareholders. By reinvesting dividends to purchase additional shares, investors not only support the company’s capital growth but also compound their ownership over time. The DRIS Mandate can be easily accessed by shareholders for further questions about the scheme.
Current Shareholding and Voting Rights
Following this recent allotment, the total number of Ordinary Shares issued by Hargreave Hale AIM VCT PLC now stands at 372,633,288. Each share entitles its holder to one voting right, vital for corporate governance and decision-making processes. The company does not retain any shares in Treasury, ensuring that the total voting rights reflect the entire share structure.
Company Contact Information for Shareholders
For any inquiries regarding shareholdings or the DRIS, shareholders are encouraged to reach out to the dedicated team at Canaccord Genuity Asset Management Limited:
Canaccord Genuity Asset Management Limited
Abbe Martineau
Oliver Bedford
Email: aimvct@canaccord.com
Phone: +44 207 523 4525, +44 207 523 4837
Frequently Asked Questions
What is the purpose of the Dividend Reinvestment Scheme (DRIS)?
The DRIS allows shareholders to reinvest their dividends into additional shares, promoting long-term investment and potential growth.
What price were the new shares allotted at?
Each new share was allotted at a price of 35.06 pence.
When will the new shares start trading?
The shares are expected to commence trading on or around early August.
Who can I contact for more information about my shares?
Shareholders can contact Canaccord Genuity Asset Management Limited for any queries regarding their shareholdings.
How many total shares are in circulation after this allotment?
The total number of Ordinary Shares in issue now stands at 372,633,288.
