Maven Income and Growth VCT 5 PLC Issue of Equity (5052V)
April 05 2023 - 7:32AM
UK Regulatory
TIDMMIG5
RNS Number : 5052V
Maven Income and Growth VCT 5 PLC
05 April 2023
Maven Income and Growth VCT 5 PLC (the Company)
Issue of Equity
On 7 October 2022, the Company launched an offer for
subscription for new ordinary shares of 10p each (Ordinary Shares)
to raise up to GBP10 million (the Offer).
Pursuant to the Offer, GBP2,308,763 of valid applications were
received in the period from 1 March 2023 up to 12 noon on 4 April
2023 in respect of the 2022/2023 tax year. This is the final
allotment in respect of the 2022/2023 tax year and, as a result,
the Company has issued and allotted 6,427,303 new Ordinary Shares
on 5 April 2023. In accordance with the allotment formula set out
in the prospectus for the Offer, these offer prices at which the
shares were issued were in the range of 35.25p to 35.83p per
Ordinary Share and, as a result, the number of Ordinary Shares now
in issue is 193,237,029. Therefore, the total number of voting
rights in the Company is 193,237,029.
The total funds raised by the Company for the 2022/2023 tax year
is GBP6.2 million.
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 11 April 2023.
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 an allotment in respect of
applications for the 2023/2024 tax year will take place shortly
after 31 May 2023, when the Offers are expected to close, unless
the Offer is fully subscribed by an earlier date or extended, at
the Board's discretion, to a date up to and including 6 October
2023.
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
5 April 2023
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