Maven Income and Growth VCT PLC (the Company)
Issue of Equity
On 23 October 2020, the Company launched an offer for subscription for new ordinary shares of 10p each (Ordinary Shares) to raise up to £10 million, with an over-allotment facility for up to a further £10 million (the Offer). On 8 February 2021, the Company announced that the Board of the Company had resolved to exercise its discretion to utilise the over-allotment facility of £10 million. On 24 March 2021, 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 £6,494,729 of valid applications received from 12 noon on 26 February 2021 until the closure of the offer on 30 March 2021, in respect of the 2020/2021 tax year, the Company has issued and allotted 14,485,275 new Ordinary Shares on 1 April 2021. 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 44.06p to 45.68p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 134,301,996. Therefore, the total number of voting rights in the Company is 134,301,996.
In respect of this allotment, an application will be made by the Company to the FCA Listing Authority 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 9 April 2021.
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.
The Board of the Company intends that a final allotment in respect of applications for the 2021/2022 tax year will take place on or before 4 May 2021.
For further information, please contact:
Maven Capital Partners UK LLP
Telephone: 0141 306 7400
E-mail: enquiries@mavencp.com
Maven Capital Partners UK LLP
Company Secretary
1 April 2021
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