Source - RNS
RNS Number : 0366K
Maven Income and Growth VCT 3 PLC
05 April 2018
 


Maven Income and Growth VCT 3 PLC (the Company)

 

Issue of Equity

 

On 22 September 2017 the Company launched an offer for subscription for new ordinary shares of 10p each (Ordinary Shares) to raise up to £15 million, with an over-allotment facility for up to a further £5 million (the Offer). On the 2 March 2018 the Company announced that the Board of the Company had resolved to exercise its discretion to utilise the over-allotment facility of £5 million.

 

Pursuant to the Offer, and the £6,738,661.67 of valid applications received from 2 February 2018 until noon on 3 April 2018 in respect of the 2017/2018 tax year, the Company has issued and allotted 9,845,160 new Ordinary Shares on 5 April 2018. 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 67.32p to 69.07p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 65,200,117. Therefore, the total number of voting rights in the Company is 65,200,117.

 

In respect of this allotment, an application will be made by the Company to the UK 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 2018.

 

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 confirms that, as the over-allotment facility has now been utilised in full, the Offer has closed fully subscribed. The Board intends that a final allotment in respect of applications for the 2018/2019 tax year will take place on or before 20 April 2018.

 

For further information, please contact:

 

Maven Capital Partners UK LLP

Telephone: 0141 306 7400

E-mail: [email protected]

 

Maven Capital Partners UK LLP

Secretary

 

5 April 2018

 

 

 

 


This information is provided by RNS
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