Maven Income and Growth VCT 3 PLC Publication of a Prospectus (3691M)

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RNS Number : 3691M

Maven Income and Growth VCT 3 PLC

20 September 2021

Joint Announcement by Maven Income and Growth VCT 3 PLC and Maven Income and Growth VCT 4 PLC

Offers for Subscription

20 September 2021

The Board of Directors of Maven Income and Growth VCT 3 PLC ("Maven VCT 3") and Maven Income and Growth VCT 4 PLC ("Maven VCT 4") (together the "Companies" and each a "Company") are pleased to announce that they have published a joint Prospectus (comprising a Securities Note, Registration Document and Summary) in relation to offers for subscription for new Ordinary Shares of 10p each in each of the Companies to raise, in aggregate, up to GBP20 million with over-allotment facilities of up to, in aggregate, a further GBP20 million (before issue costs) (the "Offers" and each an "Offer").

The Companies have also published a joint Circular (the "Circular") seeking the approval of their respective shareholders for various matters, including obtaining shareholder approval of allotment and disapplication authorities in connection with the Offers, each Company giving notice of a General Meeting to be held on 20 Octo ber 2021 (the "General Meeting").

The Offers will open on 20 September 2021 and the deadline for receipt of applications is 12.00 noon on 4 April 2022 in relation to the tax year 2021/22 and 12.00 noon on 27 May 2022 in relation to the tax year 2022/23. The Offers will close on 3 June 2022 unless the relevant Offer is fully subscribed by an earlier date or previously extended by the relevant Board to no later than 9 September 2022.

Each Offer is conditional on the passing of certain resolutions at the relevant General Meeting.

Pursuant to individual offer agreements dated 19 September 2021 relating to each Offer between, among others, each relevant Company and Maven Capital Partners LLP ("Maven"), Maven, as the administrator of each Offer, will receive an offer administration fee of 2.5% of the application amount in relation to each accepted application, with reductions to the fee applying in certain cases (for instance, early applications under the Offers). Maven, as the investment manager of each Company, is a related party of each Company under the Listing Rules, and the payment of such a fee by the Company to Maven is a transaction to which Listing Rule 11.1.10R applies.

Further, pursuant to a deed of variation dated 20 September 2021 between Maven VCT 3 and Maven, both parties have agreed to vary the terms of the relevant management and administration deed, dated 1 December 2015, to remove the cap of GBP890,000 (in any rolling twelve month period) on the payment of performance incentive fees to Maven. It is proposed that cap is removed with effect from 1 December 2021. Since Maven is the investment manager of Maven VCT 3 and is, therefore, a related party of Maven VCT 3 under the Listing Rules, the entry into the deed of variation is a related party transaction which requires approval of the shareholders of Maven VCT 3 under Listing Rule 11.

To obtain a copy of the Securities Note, private investors and financial advisers should call Maven Capital Partners LLP on 0141 306 7400. A downloadable version of the Securities Note will shortly be available from the Maven website: www.mavencp.com/vctoffer .

Copies of the Prospectus and Circular are available, free of charge, from Maven Capital Partners UK LLP at Kintyre House, 205 West George Street, Glasgow G2 2LW.

Copies of the Prospectus and the Circular have been submitted to the National Storage Mechanism and will shortly be available for viewing online at the following website address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

Any enquiries in respect of this announcement should be directed to:

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

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September 20, 2021 12:21 ET (16:21 GMT)