Issue of Equity

RNS Number : 9356Q

Maven Income & Growth VCT PLC

03 March 2021

 

Maven Income and Growth VCT PLC (the Company)

Issue of Equity

On 23 October 2020, 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). On 8 February 2021, the Company announced that the Board of the Company had resolved to exercise its discretion to utilise the over-allotment facility of £10 million to the extent required to meet further investor demand.

Pursuant to the Offer, a total of £13,340,521 of valid applications were received up to the close of the early investment incentive period at 12 noon on 26 February 2021. In respect of the 2020/21 tax year, £12,594,771 of valid applications were received and, as a result, the Company has issued and allotted 28,533,898 new Ordinary Shares on 2 March 2021. 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 43.62p to 44.19p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 119,816,721. Therefore, the total number of voting rights in the Company is 119,816,721.

In respect of this allotment, an application will be made by the Company to the FCA 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 8 March 2021.

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 further applications for the 2020/2021 tax year will take place on or before 5 April 2021.

For further information, please contact:

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

Maven Capital Partners UK LLP

Company Secretary

2 March 2021

 

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