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LONDON - The Law Debenture Corporation p.l.c. (LSE:LWDB), a British investment trust, announced the issuance of 50,000 new ordinary shares at a price of £9.48 each on Wednesday. The shares, issued under the company’s block listing facility, are set to rank equally with the existing ordinary shares.
The issue price represents a premium to the net asset value per share at the time of the transactions. Following this issuance, Law Debenture has the capacity to admit an additional 9,855,000 ordinary shares under the same facility.
With this latest equity issue, the total number of ordinary shares in issue for the company now stands at 133,775,755, which is also the total number of voting rights. The company confirmed that no shares are held in treasury.
Shareholders may use the updated share count as the denominator for calculations to determine if they need to notify changes in their interest in the company, in accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This move by Law Debenture comes as part of its ongoing capital management strategy. The issuance of shares at a premium indicates investor confidence in the company and provides additional funds that can be used for various corporate purposes.
The information disclosed is based on a press release statement from The Law Debenture Corporation p.l.c. and is disseminated by RNS, the news service of the London Stock Exchange (LON:LSEG).
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