Issue of Equity

RNS Number : 0570C

Maven Income and Growth VCT 3 PLC

05 February 2020

 

Maven Income and Growth VCT 3 PLC (the Company)

Issue of Equity

On 13 November 2019 the Company launched an offer for subscription for new ordinary shares of 10p each (Ordinary Shares) to raise up to £7.5 million (the Offer). On 28 January 2020, the Board announced that it had received subscriptions up to its fundraising limit of £7.5 million and that the Offer was closed for further applications.

Pursuant to the Offer, and the £6,701,710 of valid applications received up to 28 January 2020 in respect of the 2019/2020 tax year, the Company has issued and allotted 11,065,572 new Ordinary Shares on 5 February 2020. 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 59.92p to 62.59p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 78,874,600. Therefore, the total number of voting rights in the Company is 78,874,600.

In respect of this allotment, an application will be made by the Company to the UK Listing Authority 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 10 February 2020.

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 intends that an allotment in respect of applications for the 2020/2021 tax year will take place as soon practicable after 6 April 2020.

For further information, please contact:

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

Maven Capital Partners UK LLP

Secretary

5 February 2020

 

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