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Share Name Share Symbol Market Type Share ISIN Share Description
Maven Income And Growth Vct 5 Plc LSE:MIG5 London Ordinary Share GB0002057536 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 33.00 32.00 34.00 33.00 33.00 33.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 0.2 0.1 275.0 41

Maven Income & Growth VCT PLC Publication of a Prospectus

26/10/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 1207D

Maven Income & Growth VCT PLC

26 October 2020

Joint Announcement by Maven Income and Growth VCT PLC & Maven Income and Growth VCT 5 PLC

Offer for Subscription

23 October 2020

The Board of Directors of Maven Income and Growth VCT PLC ("Maven VCT 1") and Maven Income and Growth VCT 5 PLC ("Maven VCT 5") (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").

The Companies have also published a joint Circular (the "Circular") seeking the approval of their respective Shareholders for matters in connection with the Offers, each Company giving notice of a General Meeting to be held on 27 November 2020 (the "General Meeting").

The Offers will open on 23 October 2020 and the deadline for receipt of applications is 12.00 noon on 30 March 2021 in relation to the tax year 2020/21 and 12.00 noon on 30 April 2021 in relation to the tax year 2021/22. The Offers will close on 4 May 2021 unless the relevant Offer is fully subscribed by an earlier date or previously extended by the relevant Board to no later than 6 October 2021.

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

Pursuant to individual offer agreements dated 23 October 2020 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.

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 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 the Offers should be directed to:

Maven Capital Partners UK LLP

Telephone: 0141 306 7400

E-mail: enquiries@mavencp.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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October 26, 2020 03:00 ET (07:00 GMT)

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