REG - Maven Inc &Grwth VCT Maven IncGwth VCT 3 MavIncGroVCT4 Maven Inc&Grwth 5 - Publication of a Prospectus

Maven Income and Growth VCT 4Announcement

27/09/2024 16:45

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RNS Number : 0913G  Maven Income & Growth VCT PLC  27 September 2024

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR
ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION
CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY
JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE
REPUBLIC OF SOUTH AFRICA.

 

Joint Announcement by Maven Income and Growth VCT PLC, Maven Income and Growth
VCT 3 PLC, Maven Income and Growth VCT 4 PLC and Maven Income and Growth VCT 5
PLC

 

Offer for Subscription

 

A prospectus relating to offers for subscription by Maven Income and Growth
VCT PLC, Maven Income and Growth VCT 3 PLC, Maven Income and Growth VCT 4 PLC
and Maven Income and Growth VCT 5 PLC (together the "Companies" and each a
"Company") to raise up to, in aggregate, £40,000,000 including over-allotment
facilities for up to, in aggregate, £20,000,000 through the issue of new
ordinary shares of 10p each in the capital of the Companies (each an "Offer"
and together the "Offers"), was issued by the Companies on 27 September 2024
(the "Prospectus").

 

The Companies have also published a joint Circular (the "Circular") seeking
the approval of their respective shareholders for various matters, including
obtaining shareholder approval of allotment and disapplication authorities in
connection with the Offers and each Company giving notice of a General Meeting
to be held on 14 November 2023 (the "General Meeting").

 

The Offers will open on 27 September 2024 and are expected to close no later
than 5 April 2025 for shares to be allotted in the 2024/25 tax year, and no
later than 1 May 2025 for shares to be allotted in the 2025/26 tax year
(unless fully subscribed by an earlier date or previously extended by the
directors to no later than 26 September 2025).

 

Each Offer is conditional on the passing of certain resolutions at the
relevant General Meeting as set out in the Circular.

 

Pursuant to individual offer agreements dated 27 September 2024 relating to
the Offer between, among others, the Companies and Maven Capital Partners
("Maven"), Maven, in exchange for providing administration services and
endeavouring to procure subscribers in connection with the Offer, will receive
a fee of up to 2.5% of the aggregate amount received by the Companies from
subscribers under the Offer. Maven, as the investment manager of the
Companies, is a related party of the Companies under UK Listing Rule 11.5.3R,
and the payment of such a fee by the Companies to Maven is a related party
transaction of an adequate size under UK Listing Rule 11.5.4R for UK Listing
Rule 8.2.1R to apply. The Board considers this transaction fair and reasonable
as far as the shareholders of the Company are concerned and have been provided
with written confirmation of this by the Company's sponsor, Howard Kennedy
Corporate Services LLP.

 

To obtain a copy of the Prospectus, private investors and financial advisers
should call Maven Capital Partners LLP on 0141 306 7400. A downloadable
version of the Prospectus will also be available from the Maven website:
www.mavencp.com/vctoffer (http://www.mavencp.com/vctoffer) .

 

Copies of the Prospectus and Circular are available, free of charge, from
Maven Capital Partners UK LLP at Kintyre House, 205 West George Street,
Glasgow G2 2LW.

 

A copy of the Prospectus has been submitted to the National Storage Mechanism
and will shortly be available for viewing online at the following website
address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

Any enquiries in respect of the Offers should be directed to:

 

Maven Capital Partners UK LLP

Telephone: 0141 306 7400

E-mail: enquiries@mavencp.com (mailto:enquiries@mavencp.com)

 

The information contained within this announcement is deemed by the Companies
to constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014). Upon the publication of this announcement via
Regulatory Information Service, this inside information is now considered to
be in the public domain.

 

Notes

 

This announcement does not constitute or form part of any offer to issue or
sell, or any solicitation of any offer to subscribe or purchase, any
investment in any jurisdiction, nor shall it (or the fact of its distribution)
form the basis of, or be relied on in connection with, any contract therefor.

 

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