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LONDON - Hargreave Hale AIM VCT PLC has announced the allotment of 2,905,659 Ordinary Shares today as part of its dividend reinvestment scheme (DRIS). Shareholders who opted for shares instead of cash dividends have been issued new shares at 37.54 pence each.
The DRIS allowed shareholders to receive shares in lieu of the special dividend of 1.50 pence and the final dividend of 1.25 pence per share, both of which were also paid today. The issue price was based on the last reported ex-dividend net asset value per Ordinary Share of the company as of January 24, 2025.
The company has applied for the new shares to be admitted to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange (LON:LSEG)'s main market, with expected dealings to commence around February 21, 2025.
Among the recipients of the new allotment, Justin Ward, a person discharging managerial responsibilities (PDMR), along with Mrs. E Ward, a person closely associated (PCA), were allotted 3,628 and 1,415 shares respectively. This resulted in their total holdings increasing to 53,157 and 20,727 shares. Oliver Bedford, another PDMR, and his PCA, Mrs. C Bedford, were allotted a total of 21,343 shares, bringing their combined holding to 319,233 shares.
Following the issue, the total number of Ordinary Shares in the company will be 368,388,962, each carrying one vote. Hargreave Hale AIM VCT PLC confirmed that it does not hold any Ordinary Shares in Treasury, hence the total voting rights in the company are 368,388,962. Shareholders can use this number as the denominator for calculations to determine if they need to notify their interest in, or a change to their interest in, the share capital of the company as per the Disclosure Guidance and Transparency Rules.
Additional information about the DRIS, including its terms and conditions, can be found on the company's website. This allotment of shares represents a reinvestment of dividends and an increase in the company's issued share capital, based on a press release statement.
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