Hargreaves Lansdown plc today announced that it has submitted an application to the Financial Conduct Authority (FCA) and the London Stock Exchange (LSE) for approval to issue up to 800,000 new ordinary shares, each with a nominal value of 0.4 pence. These shares are ready to trade on the LSE’s main market and included in the FCA’s Official List.

Upon issuance, the new ordinary shares will rank equally with the company’s existing issued ordinary shares, meaning they will carry the same rights and privileges as those already in circulation.

Hargreaves Lansdown FCA & LSE Approval for 800,000 Share Issuance

The issuance of these shares is part of the company’s ongoing commitment to meet its obligations under specific share-based incentive arrangements. These arrangements are going to be active around the time of the proposed acquisition of Hargreaves Lansdown by Harp Bidco Limited. The acquisition is ready to proceed under a scheme of arrangement as outlined in Part 26 of the Companies Act 2006. The company’s shareholders approved this scheme in a meeting held on 14 October 2024.

Also, the admission of these newly issued ordinary shares is going to be ready by 17 March 2025. This move marks a significant step in the company’s preparations for the upcoming acquisition, providing the necessary share allocations to fulfill the terms of the incentive schemes.

Hargreaves Lansdown’s decision to issue these shares underscores its commitment to maintaining shareholder value and fulfilling its contractual obligations while navigating the changes brought about by the acquisition process. The company continues to work closely with regulatory authorities to ensure compliance with all necessary procedures as it prepares for the next phase of its corporate development.

The financial community is closely monitoring these developments as the acquisition moves forward, with expectations of further announcements leading up to the planned date of admission.

Also, stay updated with the Latest Broker News.