Issue of Equity

RNS Number : 9327W

Maven Income & Growth VCT PLC

24 April 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. On 4 March 2019, the Company announced that, as the over-allotment facility had been utilised in full, the Offer had closed fully subscribed.

Pursuant to the Offer, and the £1,477,330 of valid applications received in respect of the 2019/2020 tax year, the Company has issued and allotted 3,049,148 new Ordinary Shares on 24 April 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 48.24p to 49.00p per Ordinary Share.

In respect of this allotment, an application will be made by the Company to the FCA and 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 25 April 2019.

Following this final allotment, a total of 41,161,201 Ordinary Shares have been issued by the Company pursuant to the Offer, and the number of Ordinary Shares now in issue is 94,025,085.  Therefore, the total number of voting rights in the Company is 94,025,085.

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.

For further information, please contact:

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

Maven Capital Partners UK LLP

Company Secretary

24 April 2019

 

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