REG - Maven Inc &Grwth VCT Maven Inc&Grwth 5 Maven IncGwth VCT 3 MavIncGroVCT4. - Statement re Intended Offers for Subscription

Maven Income and Growth VCTAnnouncement

18/06/2024 12:00

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RNS Number : 9023S  Maven Income & Growth VCT PLC  18 June 2024

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 Offers for Subscription

 

The Directors of the Companies are pleased to announce their intention to
raise up to £40 million, in aggregate, including over-allotment facilities
of, in aggregate, up to £20 million, by way of offers for subscription of new
ordinary shares (the "Offers"). Each Company will raise up to £10 million,
including an over-allotment facility of up to £5 million. Shares will be
issued in the 2024/25 and 2025/26 tax years.

Having considered the current cash reserves of the Companies and the amounts
intended to be raised under the Offers, the Boards are confident that, given
the strength of the current pipeline of investment opportunities, the
Companies' 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 2024. 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 still remaining open.

It is anticipated that the Offers will remain open until no later than 5 April
2025 in respect of the 2024/25 tax year and until 25 April 2025 in respect of
the 2025/26 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

18 June 2024

 

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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