Issue of Equity

RNS Number : 8887A

Maven Income and Growth VCT 3 PLC

07 February 2022

 

Maven Income and Growth VCT 3 PLC (the Company)

Issue of Equity

On 20 September 2021, the Company launched an offer for subscription for new ordinary shares of 10p each (Ordinary Shares) to raise up to £10 million, with an over-allotment facility for up to a further £10 million (the Offer).

Pursuant to the Offer, a total of £9,162,381 of valid applications were received up to the close of the early investment incentive period at close of business on Wednesday 2 February 2022. In respect of the 2021/2022 tax year, £8,610,706 of valid applications were received and, as a result, the Company has issued and allotted 13,601,386 new Ordinary Shares on 4 February 2022. 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 62.55p to 65.33p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 92,261,825. Therefore, the total number of voting rights in the Company is 92,261,825.

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 11 February 2022.

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 a final allotment in respect of applications for the 2021/2022 tax year will take place on or before 5 April 2022. It is also intended that an allotment in respect of applications for the 2022/2023 tax year will take place as soon practicable after the close of the Offer, which is expected to be on 3 June 2022 unless the Offer is fully subscribed by an earlier date or extended, at the Board's discretion, to a date up to and including 9 September 2022.

For further information, please contact:

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

Maven Capital Partners UK LLP

Secretary

7 February 2022

 

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