Issue of Equity

RNS Number : 5037V

Maven Income & Growth VCT PLC

05 April 2023

 

Maven Income and Growth VCT 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 £10 million (the Offer).

Pursuant to the Offer, £2,247,900 of valid applications were received in the period from 1 March 2023 up to 12 noon on 4 April 2023 in respect of the 2022/2023 tax year. This is the final allotment in respect of the 2022/2023 tax year and, as a result, the Company has issued and allotted 4,986,813 new Ordinary Shares on 5 April 2023. 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 43.75p to 45.81p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 147,117,888. Therefore, the total number of voting rights in the Company is 147,117,888.

The total funds raised by the Company for the 2022/2023 tax year is £5.9 million.

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 April 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 an allotment in respect of applications for the 2023/2024 tax year will take place shortly after 31 May 2023, when the Offers are expected to close, 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

5 April 2023

 

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