LONDON - JPMorgan Global Growth & Income PLC has issued 50,000 new ordinary shares at a price of 590.80 pence per share, the company announced Friday. The shares were sold for cash under the company's existing block listing facility, which was established on May 24, 2024.
The issuance brings the total number of ordinary shares in the company's issued share capital to 502,892,308. These shares will be used for calculating shareholders' percentage holdings in the company, which is necessary for reporting changes in ownership as per the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Following the transaction, JPMorgan Global Growth & Income PLC has 13,124,140 ordinary shares left under the current block listing facility. The company stated that it does not hold any ordinary shares in Treasury and that any re-issuance of shares held in Treasury will be done at a premium to the net asset value at the time of issue.
This move is part of the company's ongoing capital management strategy and provides additional funds that can be used for various corporate purposes. Shareholders and potential investors are often interested in such equity issuances as they can dilute existing shareholdings but also potentially fund growth and expansion.
The information about the share issuance is based on a press release statement from JPMorgan Global Growth & Income PLC, as disseminated through the news service of the London Stock Exchange (LON:LSEG).
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