REG - Maven Inc&Grwth 5 - Issue of Equity

Maven Income and Growth VCT 5Announcement

19/02/2025 10:15

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RNS Number : 7088X  Maven Income and Growth VCT 5 PLC  19 February 2025

Maven Income and Growth VCT 5 PLC

(the Company)

 

Issue of Equity

 

On 27 September 2024, the Company launched an offer for subscription for new
ordinary shares of 10p each (Ordinary Shares) to raise up to £5 million, with
an over-allotment facility for up to a further £5 million (the Offer).

 

Pursuant to the Offer, a total of £3,942,714 of valid applications were
received in the period from 12.00 noon on 13 December 2024 up to and including
9.00am on 14 February 2025 in respect of the 2024/2025 tax year. As a result,
the Company has issued and allotted 11,989,923 new Ordinary Shares on 19
February 2025. 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 32.39p to 33.25p per Ordinary Share and, as a result, the
number of Ordinary Shares now in issue is 226,324,606. Therefore, the total
number of voting rights in the Company is 226,324,606 and this 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.

 

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 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 21 February 2025.

 

This is the second allotment in respect of the 2024/2025 tax year and the
Board of the Company intends that further allotments in respect of
applications for the 2024/2025 tax year will take place on, or before, 31
March 2025 and on, or before, 4 April 2025.  It is also intended that an
allotment in respect of applications for the 2025/2026 tax year will take
place on, or before, 2 May 2025. The Company's Offer has, to date, received
applications totalling £6,432,717 for both tax years.

 

For further information, please contact:

 

Maven Capital Partners UK LLP

Telephone: 0141 306 7400

E-mail: enquiries@mavencp.com

 

Maven Capital Partners UK LLP

Secretary

 

19 February 2025

 

 

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