Source - LSE Regulatory
RNS Number : 9000R
Maven Income & Growth VCT PLC
08 July 2022
 

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.

 

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

(the "Companies")

 

Statement re Intended Joint Offers for Subscription

 

The directors of the Companies are pleased to announce the intention to raise up to £30 million, in aggregate, by way of joint offers for subscription of new ordinary shares, with over-allotment facilities of up to, in aggregate, a further £10 million (the "Offers"), with shares to be issued in the 2022/23 and 2023/24 tax years.

Having considered the current cash reserves of the Companies and the amount intended to be raised under the Offers, the Boards are confident that, given the strength of the current pipeline of investment opportunities, the Companies' investment manager, Maven Capital Partners UK LLP, will continue to be able to identify and complete VCT qualifying transactions in line with each Company's investment strategy.

A prospectus, with full details of the Offers, is intended for publication in the Autumn of 2022. A further announcement will be made when the prospectus is available.

Applicants will be able to invest in any or all of the Offers, in accordance with the terms to be set out in the prospectus and subject to the relevant Offer(s) selected remaining open.

It is anticipated that the Offers will remain open until no later than 4 April 2023 in respect of the 2022/23 tax year and until 26 May 2023 in respect of the 2023/24 tax year, unless an Offer is fully subscribed at an earlier date and subject to each Board's right to close or extend the relevant Offer at any time.

 

On behalf of the Boards

Maven Capital Partners UK LLP

Secretary

8 July 2022                        

 

Notes

 

1.   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.

2.   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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END
 
 
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