LONDON - JPMorgan Global Growth & Income PLC has announced the issuance of 250,000 ordinary shares at a price of 590.80 pence per share today. The shares were issued under the company's existing ordinary share block listing facility, which was established on May 24, 2024.
The transaction has increased the total issued share capital of the investment firm to 512,152,308 ordinary shares. This figure is now the denominator for shareholders to calculate their percentage holdings in the company, as per the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Following this issue, JPMorgan Global Growth & Income PLC has indicated that it has 3,864,140 ordinary shares remaining under the May 24, 2024 block listing facility. Additionally, the company has another block listing facility for 25,000,000 ordinary shares, dated December 19, 2024.
The company has confirmed that it does not hold any ordinary shares in treasury and that any shares held in treasury in the future would only be re-issued at a premium to the net asset value at the time of issue.
This move comes as part of the company's strategy to manage its capital and provide liquidity to the market. The funds raised from this share issue are anticipated to be used for general corporate purposes, although specific details of the intended use were not disclosed in the press release statement.
Investors and market watchers may view this share issuance as a sign of the company's confidence in its growth prospects and a means to potentially enhance shareholder value. The issuance price of 590.80 pence per share reflects the market's valuation of the company at the time of the sale.
This information was disseminated by RNS, the news service of the London Stock Exchange (LON:LSEG), and is based on a press release statement from JPMorgan Global Growth & Income PLC.
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