LONDON - JPMorgan Global Growth & Income PLC announced the issuance of 350,000 new Ordinary Shares at a price of 591.50 pence per share. This transaction took place under the company's existing Ordinary Share block listing facility established on May 24, 2024.
Following this issuance, the total number of issued shares for the investment trust now stands at 503,667,308. Shareholders can use this figure as the denominator for calculations related to their notification obligations under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The company confirmed that it has 12,349,140 Ordinary Shares still available for issuance under the current block listing facility. Additionally, it was stated that the company does not hold any Ordinary Shares in Treasury and that any shares held in Treasury would only be re-issued at a premium to the net asset value at the time of issue.
The issuance of shares for cash is a common practice for investment trusts seeking to raise capital. This capital can be used for various purposes, including investing in portfolio assets, funding operations, or maintaining liquidity.
Investors often watch share issuances closely as they can affect the value of existing shares. In the case of JPMorgan Global Growth & Income PLC, the issuance of shares at a premium can be viewed as a positive sign, indicating a demand for the shares and potentially a positive assessment of the trust's net asset value.
This news is based on a press release statement and has been distributed by RNS, the news service of the London Stock Exchange (LON:LSEG), which is authorized by the Financial Conduct Authority as a Primary Information Provider in the United Kingdom (TADAWUL:4280).
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