Maven Income & Growth VCT PLC Issue of Equity

RNS Number : 5234I

Maven Income & Growth VCT PLC

27 March 2024

 

Maven Income and Growth VCT PLC (the Company)

 

Issue of Equity

 

On 13 October 2023, the Company launched an offer for subscription for new ordinary shares of 10p each (Ordinary Shares) to raise up to £5 million, with an over-allotment facility for up to a further £2.5 million (the Offer).

 

Pursuant to the Offer, £1,101,050 of valid applications were received in the period from 5.00pm on 31 January 2024 up to and including 9.00am on 21 March 2024 in respect of the 2023/2024 tax year. This is the third allotment in respect of the 2023/2024 tax year and, as a result, the Company has issued and allotted 2,719,785 new Ordinary Shares on 27 March 2024. In accordance with the allotment formula set out in the prospectus for the Offer, the offer prices at which the shares were issued were in the range of 39.45p to 40.49p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 157,404,282. Therefore, the total number of voting rights in the Company is 157,404,282. The total amount raised by the Company for the 2023/2024 tax year to 26 March 2024 is £5,160,491.

 

In respect of this allotment, an application will be made by the Company to the FCA and to the London Stock Exchange for the new Ordinary Shares so issued to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities. It is expected that the admission of the new Ordinary Shares will become effective, and dealings will commence, on or around 28 March 2024.

 

The above statement of Voting Capital may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

The Board of the Company intends that the final allotment in respect of applications for the 2023/2024 tax year will take place on 5 April 2024.  It is also intended that an allotment in respect of applications for the 2024/2025 tax year will take place on, or around, 1 May 2024. For these future allotments, and those made to date, the Company's Offer has received applications totalling £5,376,091.

 

For further information, please contact:

 

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

 

Maven Capital Partners UK LLP

Secretary

 

27 March 2024

 

 

 

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 [e-mail] 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

 

 

IOEBDLFLZXLXBBX