Maven Income and Growth VCT 3 PLC Statement re Offer for Subscription (4971T)

TIDMMIG3 TIDMMAV4

RNS Number : 4971T

Maven Income and Growth VCT 3 PLC

14 November 2019

Maven Income and Growth VCT 3 PLC

Maven Income and Growth VCT 4 PLC

14 November 2019

Offer for Subscription

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 the Companies to raise, in aggregate, up to GBP15 million (before issue costs) (the "Offers").

Each of the Companies has also published a circular (a "Circular") seeking the approval from their respective shareholders for matters in connection with the Offers, each Company giving notice of a general meeting of that company to be held on 10 December 2019 (each a "General Meeting").

The Offers are now open and are expected to close no later than 1 April 2020 in relation to the tax year 2019/20 and on 30 April 2020 in relation to the tax year 2020/21 (unless the relevant Offer is fully subscribed by an earlier date or previously extended by the relevant board to no later than 3 November 2020).

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

At its General Meeting, Maven VCT 4 will also be seeking shareholder approval of the proposals for Maven VCT 4 to merge with Maven Income and Growth VCT 6 PLC (to be effected pursuant to a scheme of reconstruction under section 110 of the Insolvency Act 1986) (the "Merger").

Pursuant to individual offer agreements dated 13 November 2019 relating to each Offer between, among others, each relevant Company and Maven Capital Partners LLP ("Maven"), Maven, as the administrator of the 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, William Nixon has expressed his intention, prior to the close of each of the Offers, to subscribe GBP50,000 in Maven VCT 3 and GBP50,000 in Maven VCT 4 under the relevant Offer. As a director of each of the Companies, William Nixon is a related party of the relevant Company under the Listing Rules and, consequently, each subscription is a transaction to which Listing Rule 11.1.10R applies.

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 also be available from www.mavencp.com/vctoffer, or from each of the Company's websites: www.mavencp.com/migvct3 and www.mavencp.com/migvct4.

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

In accordance with the Listing Rules, the Prospectus and Circular have been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM.

Any enquiries in respect of the Offers or the Merger should be directed to:

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

Maven Capital Partners UK LLP

Secretary

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November 14, 2019 13:20 ET (18:20 GMT)