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The latest announcement is out from Proven Growth and Income VCT ( (GB:PGOO) ).
ProVen Growth and Income VCT plc has completed a new allotment of 5,915,423 ordinary shares at an average price of 49.65p each under its ongoing offer for subscription, priced with reference to a net asset value of 47.75p adjusted for a recent dividend. The company will seek admission of these shares to the FCA’s Official List and trading on the London Stock Exchange, and following the issue its total share capital rises to 327,589,195 ordinary shares, modestly expanding its capital base and potential funds available for venture investments.
The newly issued shares will rank pari passu with existing ordinary shares, ensuring equal rights for new and existing investors in terms of dividends and voting power. This incremental equity raise supports ProVen Growth and Income VCT’s ability to deploy additional capital into its target growth companies, potentially enhancing its capacity to generate returns while slightly diluting existing holdings but broadening the shareholder base.
More about Proven Growth and Income VCT
ProVen Growth and Income VCT plc is a UK-listed venture capital trust that invests in a portfolio of growth-oriented smaller companies, offering investors access to tax-efficient exposure to early-stage and expanding businesses. Its shares trade on the London Stock Exchange, and it targets capital growth and income for shareholders through diversified venture investments.
Average Trading Volume: 667,338
Technical Sentiment Signal: Buy
For detailed information about PGOO stock, go to TipRanks’ Stock Analysis page.