LONDON - JPMorgan Global Growth & Income PLC has announced the issuance of 100,000 Ordinary Shares at a price of 594.00 pence per share. The transaction, which took place today, was conducted under the company's Ordinary Share block listing facility established on May 24, 2024.
Following this issue, the total number of issued shares by the company stands at 508,427,308. Shareholders can use this figure as the denominator for the calculations needed to determine whether they are obliged to disclose changes in their interest in the company, according to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The company has also stated that after this issue, there are 7,589,140 Ordinary Shares remaining under the current block listing facility. It was noted that JPMorgan Global Growth & Income PLC does not hold any ordinary shares in Treasury. Moreover, the company clarified that it will re-issue shares held in Treasury only at a premium to net asset value at the time of issue.
This share issuance is part of the company’s strategy to raise capital, and it offers investors an opportunity to increase their holdings in the company. The company's share capital expansion is a significant event for shareholders, as it may affect their percentage of ownership and could potentially dilute the value of existing shares if not accompanied by proportional growth in the company's assets or earnings.
Investors and market watchers often view share issuances as a means for companies to finance their operations and growth without incurring debt. However, the impact on the share price and the company's overall market valuation depends on the market's perception of the company's growth prospects and the use of the proceeds from the share issuance.
The information regarding this share issuance is based on a press release statement provided by RNS, the news service of the London Stock Exchange (LON:LSEG).
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