LONDON - JPMorgan (NYSE:JPM) Global Growth & Income PLC has announced the issuance of 100,000 Ordinary Shares at a price of 589.00 pence per share. This transaction took place today under the company's Ordinary Share block listing facility established on May 24, 2024.
Following this issue, the total issued share capital of the investment trust now stands at 505,117,308 Ordinary Shares. Shareholders can use this figure as the denominator for the calculations required to determine whether they must notify their interest in the company, or any change to it, in compliance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The company also confirmed it has a remaining balance of 10,899,140 Ordinary Shares available for issuance under the current block listing facility. Notably, JPMorgan Global Growth & Income PLC does not hold any Ordinary Shares in Treasury and has stated that it will only re-issue shares held in Treasury 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. The funds raised can be used for various purposes, including investing in portfolio assets, repaying debt, or other corporate activities. The price per share reflects the market valuation at the time of the issue.
Investors and market watchers often pay close attention to share issuances as they can affect the net asset value per share and potentially dilute existing shareholders' stakes. However, the announcement did not specify the intended use of the proceeds from this share issuance.
This information, provided by the news service of the London Stock Exchange (LON:LSEG), is based on a press release statement and is intended for shareholders and potential investors to stay informed about the company's capital structure changes.
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