REG - Maven Inc &Grwth VCT - Issue of Equity

Maven Income and Growth VCTAnnouncement

27/03/2025 13:15

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RNS Number : 5503C  Maven Income & Growth VCT PLC  27 March 2025

Maven Income and Growth VCT 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). As
announced on 27 March 2025, the Company's Offer is now fully subscribed and
closed to further applications.

 

Pursuant to the Offer, a total of £5,381,727 of valid applications were
received in the period from 9.00am on 23 January 2025, up to and including
9.00am on 24 March 2025 in respect of the 2024/2025 tax year. As a result, the
Company has issued and allotted 13,308,995 new Ordinary Shares on 27 March
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 39.37p to 40.43p per Ordinary Share and, as a result, the number of
Ordinary Shares now in issue is 180,150,743. Therefore, the total number of
voting rights in the Company is 180,150,743 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 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 31 March 2025.

 

This is the second allotment in respect of the 2024/2025 tax year and the
Board of the Company intends that a further allotment in respect of
applications for the 2024/2025 tax year will take place 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.

 

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

 

27 March 2025

 

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