Issue of Equity

RNS Number : 2870Y

Law Debenture Corp PLC

11 May 2021

 

The Law Debenture Corporation p.l.c.

8^th Floor

100 Bishopsgate

London

EC2N 4AG

11 May 2021

Issue of Equity

On 11 May 2021 The Law Debenture Corporation p.l.c. (the "Corporation" ) issued two tranches of 45,000 and 50,000   new ordinary shares of 5 pence each at a price of £7.49 per share and £7.445 per share, respectively; these shares rank pari passu with the existing ordinary shares in issue. The issue price equates to a premium to the net asset value per share at the time of the transaction.

As a result of this issue, the total number of ordinary shares in issue now stands at 121,232,842 and the total number of voting rights in the Corporation is 121,232,842. There are no shares held in treasury.

The above figure of 121,232,842 may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Corporation under the FCA's Disclosure Guidance and Transparency Rules.

The decision to issue equity follows the recent acquisition of Konexo UK's company secretarial business from Eversheds Sutherland (International) LLP, which the Corporation seeks to refinance, subject to the authority approved by shareholders at the Corporation's Annual General Meeting held on 7 April 2021.

Ordinary shares may be issued in light of the continued premium to net asset value at which they are trading, together with continued demand from existing and new investors for the ordinary shares. Ordinary shares will only be issued at a premium to net asset value and will be accretive to existing shareholders.

Law Debenture Corporate Services Limited

Company Secretary

Contact: Alison Skerritt, Tel: [phone]

The Law Debenture Corporation p.l.c. is registered in England, company registration number 30397. LEI number - 2138006E39QX7XV6PP21

 

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