LONDON - JPMorgan Global Growth & Income PLC reported today that it has issued 75,000 new Ordinary Shares at a price of 597.00 pence per share. This issuance was conducted 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 company to 505,542,308 Ordinary Shares. This updated share count is now the reference point for shareholders to determine their percentage holdings in the company, in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Following this issue of shares, JPMorgan Global Growth & Income PLC has 10,474,140 Ordinary Shares remaining under its block listing facility. The company has clarified that it does not hold any Ordinary Shares in Treasury and has committed to re-issuing shares held in Treasury only at a premium to the net asset value at the time of issue.
The issuance of shares for cash is a routine process for companies seeking to raise capital. In this instance, the company has made use of its block listing facility, which allows for the issuance of shares within a specified limit without the need for repeated shareholder approvals.
This move by JPMorgan Global Growth & Income PLC provides it with additional funds, which could be used for various corporate purposes, including investment in growth opportunities or strengthening the company's balance sheet.
The information for this article is based on a press release statement provided by RNS, the news service of the London Stock Exchange (LON:LSEG).
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