LONDON - Brunner Investment Trust PLC has issued 185,000 new ordinary shares at a price of 1480.00p per share, a move that aligns with the company's policy announced on November 18, 2024. The shares were issued from the company's general corporate purposes block listing facility, and the price represents a 1.6% premium over the current net asset value.
The issuance was conducted under the waiver of pre-emption rights, which was authorized by shareholders at a general meeting, allowing shares to be issued without offering them first to existing shareholders. These newly issued shares will have the same rights as the existing shares in circulation, known as ranking pari passu.
As a result of this transaction, which took place today, the total number of ordinary shares in issue for Brunner Investment Trust now stands at 43,148,736. Following the allotment, the company retains the capacity to issue an additional 43,991 ordinary shares under its block listing facility.
Shareholders are advised that the updated total of ordinary shares in issue should be used as the denominator for calculations to determine whether they must notify changes in their shareholding as per the Financial Conduct Authority's Disclosure and Transparency Rules.
The issuance of new shares is a common practice for investment trusts seeking to raise capital for various corporate purposes. It can provide the trust with additional funds to invest according to its strategic objectives or to manage its capital structure more effectively.
This information is based on a press release statement and provides shareholders and potential investors with the latest data on the company's share capital and compliance requirements.
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