LONDON - CVC Income & Growth Limited, a diversified investment company, has announced the resale of 250,000 of its treasury Sterling shares on Wednesday. The shares were sold at a price of £1.2089 each to satisfy the continuing demand for the company's stock.
Following this transaction, CVC Income & Growth's issued share capital, excluding shares held in treasury, comprises 84,371,105 ordinary Euro shares and 121,524,157 ordinary Sterling shares. The voting rights attached to these shares are allocated with each ordinary Euro share having one vote and each ordinary Sterling share having 1.17 votes, bringing the total voting rights in the company to 226,554,368.
The company also holds a significant number of shares in treasury, which do not carry voting rights: 62,335,910 ordinary Euro shares and 246,942,784 ordinary Sterling shares. These treasury shares are not included in the calculation of voting rights.
Shareholders may use the total voting rights figure of 226,554,368 as the denominator for calculations to determine if they are required to notify their interest in CVC Income & Growth Limited or a change to their interest under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The sale of shares from treasury is a common practice for companies looking to manage the liquidity of their stock and meet investor demand. It is part of the company's capital management strategy, and the funds raised can be used for various purposes, including investment opportunities, operational costs, or strengthening the balance sheet.
This resale of shares is based on a press release statement issued by CVC Income & Growth Limited and has been reported to the London Stock Exchange (LON:LSEG). The company has not disclosed any specific plans for the use of proceeds from this sale.
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