LONDON – Brunner Investment Trust PLC has announced the issuance of 43,991 new ordinary shares at a price of 1472.00p per share, a move that comes as part of the company’s strategy to expand its share capital for general corporate purposes. The transaction took place today, and the newly issued shares come from the company’s block listing facility, which was detailed in a policy on November 18, 2024.
The price at which the shares were issued represents a 1.1% premium over the current net asset value, indicating investor confidence in the trust. This issuance was conducted under the waiver of pre-emption rights, which was previously authorized by shareholders during a general meeting, allowing new shares to be sold directly without offering them first to existing shareholders.
With this latest share issuance, Brunner Investment Trust has now fully utilized its block listing facility, leaving no further ordinary shares available for issue under this scheme. The total number of ordinary shares in circulation following this allotment has risen to 43,192,727.
Shareholders have been informed that they may use the total issued share count of 43,192,727 as the denominator for calculations to determine whether they must disclose any changes in their shareholding as per the Financial Conduct Authority’s Disclosure and Transparency Rules.
The company has made it clear that this will be the final allotment from the current block listing facility, which has been an integral part of their capital management strategy. The issuance of shares at a premium is often seen as a positive sign of market demand and company valuation.
This financial maneuver is part of Brunner Investment Trust’s ongoing efforts to manage its capital structure and provide liquidity to the market. The trust has not disclosed any further plans for additional share issues or capital raising at this time.
This information is based on a press release statement provided by the Brunner Investment Trust PLC and disseminated through RNS, the news service of the London Stock Exchange (LON:).
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