Maven Income & Growth VCT PLC Issue of Equity

RNS Number : 8083M

Maven Income & Growth VCT PLC

01 May 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, £703,400 of valid applications were received in the period from 13 October 2023 up to and including 5.00pm on 26 April 2024 in respect of the 2024/2025 tax year. This is the first and final allotment in respect of the 2024/2025 tax year and, as a result, the Company has issued and allotted 1,745,660 new Ordinary Shares on 1 May 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 40.48p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 164,062,518. Therefore, the total number of voting rights in the Company is 164,062,518.

 

The total funds raised by the Company for the 2023/2024 and the 2024/2025 tax years is £6,796,938.

 

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 3 May 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.

 

For further information, please contact:

 

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

 

Maven Capital Partners UK LLP

Secretary

 

1 May 2024

 

 

 

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