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LONDON - The Law Debenture Corporation p.l.c. (LSE:LWDB), a British investment trust and corporate services company, has announced the issuance of 60,000 new ordinary shares. The shares, each with a nominal value of 5 pence, were issued on Thursday at two distinct prices: half at £8.65 and the remaining at £8.675, both of which were above the net asset value per share at the time of the transactions.
This equity issue is part of the company’s block listing facility, which, after this issuance, retains the capacity for an additional 10,650,000 ordinary shares to be admitted. The newly issued shares will have the same rights as the existing ordinary shares.
Following the issue, the total number of ordinary shares in issue for Law Debenture now stands at 132,980,755, which also equates to the total number of voting rights within the company. The company confirmed that there are no shares held in treasury.
Shareholders may use the updated figure of 132,980,755 as the denominator for calculations to determine whether they are required to notify changes in their interest in the corporation, as per the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This issuance of equity may interest investors as it reflects the company’s use of its block listing facility to raise capital. The premium price of the shares indicates a positive market valuation at the time of the sale.
The information provided in this article is based on a press release statement from The Law Debenture Corporation p.l.c.
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