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LONDON - The Law Debenture Corporation p.l.c. (LSE:LWDB), a British investment trust, has issued 75,000 new ordinary shares at a price of £8.85 each, as announced on Wednesday. This issuance was carried out under the company’s block listing facility and the shares will 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 transaction. With this new issue, the total number of ordinary shares in issue for Law Debenture now stands at 133,130,755, and the total number of voting rights is equal to the number of shares.
Following this issuance, Law Debenture retains the capacity to admit up to an additional 10,500,000 ordinary shares under its block listing facility. The corporation has confirmed that there are no shares held in treasury.
This recent equity issue may be of interest to shareholders and potential investors as it affects the denominator for the calculation of their percentage holdings. Shareholders may need to assess whether they are obliged to disclose any changes in their interest in the company in accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The Law Debenture Corporation has a long history, being registered in England with the company registration number 30397. The company’s LEI number is 2138006E39QX7XV6PP21.
This equity issue aims to provide the corporation with additional capital. It is a common practice for companies seeking to finance growth, pay down debt, or undertake new projects. The issuance of shares at a premium is often seen as a positive indicator of the market’s valuation of the company.
The information regarding this issue of equity is based on a press release statement provided by RNS, the news service of the London Stock Exchange (LON:LSEG).
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