Issue of Equity

RNS Number : 2362S

Maven Income & Growth VCT PLC

07 March 2019

 

Maven Income and Growth VCT PLC (the Company)

Issue of Equity

On 26 September 2018, the Company launched an offer for subscription for new ordinary shares of 10p each (Ordinary Shares) to raise up to £15 million, with an over-allotment facility for up to a further £5 million (the Offer). On 23 January 2019 the Company announced that the Board of the Company had resolved to exercise its discretion to utilise the over-allotment facility of £5 million.

Pursuant to the Offer, a total of £20,000,000.00 of valid applications were received up to 12 noon on 4 March 2019. In respect of the 2018/19 tax year, £18,522,670 of valid applications were received and, as a result, the Company has issued and allotted 38,112,053 new Ordinary Shares on 6 March 2019. 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 47.76p to 49.04p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 90,975,937. Therefore, the total number of voting rights in the Company is 90,975,937.

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 13 March 2019.

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 confirms that, as the over-allotment facility has now been utilised in full, the Offer has closed fully subscribed. The Board intends that a final allotment in respect of applications for the 2019/2020 tax year will take place on or before 26 April 2019.

For further information, please contact:

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

Maven Capital Partners UK LLP

Company Secretary

7 March 2019

 

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