Statement re Joint Offer for Subscription

RNS Number : 1380T

Maven Income & Growth VCT PLC

01 October 2014

 

Joint Announcement

Maven Income and Growth VCT plc, Maven Income and Growth VCT 2 plc, Maven Income and

Growth VCT 3 plc, Maven Income and Growth VCT 4 plc and Maven Income and Growth VCT 5

plc (the "Companies")

Statement re: Proposed VCT Fundraising

The Directors of the Companies are pleased to announce the intention to raise up to £18 million, in aggregate, by way of offers for subscription for new ordinary shares (the "Offers"). Maven Income and Growth VCT plc, Maven Income and Growth VCT 2 plc, Maven Income and Growth VCT 3 plc and Maven Income and Growth VCT 5 plc will each be aiming to raise up to £4 million, with Maven Income and Growth VCT 4 plc aiming to raise up to £2 million.

It is intended that the Offers should provide for investor choice and an applicant will be able to elect to subscribe equally in each of the five Companies, or can choose to invest amounts of their choice in one or more of the Offers, in accordance with the terms to be set out in the Prospectus for the Offers, and subject to those Offers selected remaining open.

It is anticipated that the Offers will remain open until 1 April 2015 in respect of the 2014/15 tax year and until late April 2015 in respect of the 2015/16 tax year, unless fully subscribed at an earlier date and subject to each Board's right to close or extend the relevant Offer at any time. As there will be no minimum aggregate subscription for a Company, potential investors can be assured that the Offers, once launched, will proceed.

The full terms of the Offers will be set out in a detailed Prospectus to be approved by the UK Listing

Authority and which is expected to be issued in October 2014.

On behalf of the Boards

Maven Capital Partners UK LLP, Secretary

1 October 2014

 

END

 

 

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