LONDON - JPMorgan Global Growth & Income Plc has issued 75,000 new Ordinary Shares at a price of 591.00 pence per share, the company announced today. The shares were sold for cash under the company's block listing facility that was established on May 24, 2024.
Following this transaction, the total issued share capital of the company has increased to 508,327,308 Ordinary Shares. This figure is now the reference for shareholders to determine if they need to disclose changes in their stake in the company, as per the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The company has also stated that it has 7,689,140 Ordinary Shares remaining under the current block listing facility. It was clarified that JPMorgan Global Growth & Income Plc does not possess any Ordinary Shares in Treasury and that any re-issuance of shares held in Treasury would occur at a premium to the net asset value at the time of issue.
The issuance of shares is a common practice for companies seeking to raise capital. In this case, the capital raised could potentially be used for a variety of corporate purposes, which might include financing investments or business expansion. However, the specific use of the proceeds from this share issuance was not disclosed.
Investors and market watchers often pay close attention to such announcements, as they can influence the company's stock performance on the London Stock Exchange (LON:LSEG). Share issuances can dilute existing shareholders' stakes but might also provide the company with necessary funds to pursue growth opportunities.
The news of this share issuance is based on a press release statement from JPMorgan Global Growth & Income Plc and was disseminated by RNS, the news service of the London Stock Exchange.
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