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LONDON - The Law Debenture Corporation p.l.c., a UK-based investment trust, has issued 100,000 new ordinary shares at a price of £8.915 each, it was announced on Monday. The newly issued shares, which rank equally with the existing ordinary shares, were sold at a premium to the net asset value per share at the time of the transaction.
This issuance, conducted under the company’s block listing facility, brings the total number of ordinary shares in issue to 133,310,755, with the same number of voting rights. The company confirmed that there are no shares held in treasury.
Following this issuance, Law Debenture retains the capacity to admit an additional 10,320,000 ordinary shares under its block listing facility. This suggests the potential for future equity issuances should the company choose to exercise this option.
Shareholders may use the updated total share count as the denominator for calculations to determine if they are required to notify changes in their stake in the company, in accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The Law Debenture Corporation, which is registered in England with company registration number 30397, did not disclose the specific use of proceeds from this equity issue.
This financial move comes as companies globally are evaluating their capital structures to ensure they have the necessary funds to pursue growth opportunities or strengthen their balance sheets.
The information about this equity issue is based on a press release statement provided by RNS, the news service of the London Stock Exchange (LON:LSEG).
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