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LONDON - The Law Debenture Corporation p.l.c. has announced the issuance of 75,000 new ordinary shares at £8.705 each, according to a statement released on Tuesday. These shares, issued under the company’s block listing facility, will rank equally with the existing shares and were priced at a premium above the net asset value per share at the time of the transaction.
Following this latest share issuance, the total number of ordinary shares in circulation for Law Debenture now stands at 133,055,755, with an equivalent number of voting rights. The company confirmed that there are no shares held in treasury.
The Corporation has further stated that after this issuance, it retains the capacity to admit an additional 10,575,000 ordinary shares under its block listing facility. This may offer the company flexibility for future equity issuances if required.
Shareholders may use the updated total number of shares as the denominator for calculations to determine if they need to notify changes in their stake in the company, in accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This equity issue comes as companies continue to navigate the financial landscape and seek various methods to raise capital. By issuing shares at a premium, Law Debenture indicates investor confidence in its value proposition and financial health.
The information reported is based on a press release statement and reflects the company’s activities on the London Stock Exchange (LON:LSEG).
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