Issue of Equity

RNS Number : 8525R

Maven Income and Growth VCT 3 PLC

03 March 2023

 

Maven Income and Growth VCT 3 PLC (the Company)

Issue of Equity

On 7 October 2022, 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 £5 million (the Offer).

Pursuant to the Offer, a total of £4,641,849 of valid applications have been received in the period from 7 October 2022 up to close of business on 28 February 2023. In respect of the 2022/2023 tax year, £3,705,357 of valid applications were received in the period from 7 October 2022 up to 9.00am on 6 February 2023 and the Company issued and allotted 6,389,151 new Ordinary Shares on 8 February 2023. In the period from 6 February 2023 to close of business on 28 February 2023, in respect of the 2022/2023 tax year, £581,022 of valid applications were received, and, as a result, the Company has issued and allotted 982,796 new Ordinary Shares on 3 March 2023. In accordance with the allotment formula set out in the prospectus for the Offer, the offer prices at which these shares were issued were in the range of 57.90p to 58.84p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 111,264,823. Therefore, the total number of voting rights in the Company is 111,264,823.

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 7 March 2023.

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 2022/2023 tax year will take place on or before 5 April 2023. It is also intended that an allotment in respect of applications for the 2023/2024 tax year will take place on or before 31 May 2023, unless the Offer is fully subscribed by an earlier date or extended, at the Board's discretion, to a date up to and including 6 October 2023.

For further information, please contact:

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

Maven Capital Partners UK LLP

Secretary

3 March 2023

 

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