LONDON - The Law Debenture Corporation p.l.c. (LSE:LWDB) announced today the issuance of 50,000 new ordinary shares priced at £9.195 each. This transaction was conducted under the company’s block listing facility and the shares will be ranked equally with the existing ordinary shares.
The issue price represents a premium over the net asset value per share at the time of the transaction. With this issuance, Law Debenture’s total number of ordinary shares in issue has increased to 133,470,755, which is also the total number of voting rights within the company. The corporation confirmed that there are no shares held in treasury.
Following this issue, Law Debenture retains the capacity to admit an additional 10,160,000 ordinary shares under its block listing facility. Shareholders can use the updated total share count as the denominator for calculations to determine whether they must notify changes in their shareholding interest in accordance with the FCA’s Disclosure Guidance and Transparency Rules.
This move by Law Debenture comes as part of its ongoing capital management strategy. The corporation, which provides a range of financial and fiduciary services, has not disclosed specific plans for the use of proceeds from this share issuance.
The information disclosed in this article is based on a press release statement issued by the company and is intended to keep shareholders and the market informed of the latest equity changes within the corporation.
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