Maven Income & Growth VCT 4 PLC Replacement re Issue of Equity (5460L)
05 July 2014 - 1:32AM
UK Regulatory
TIDMMAV4 TIDMMAVC
RNS Number : 5460L
Maven Income & Growth VCT 4 PLC
04 July 2014
Maven Income and Growth VCT 4 PLC
Issue of Equity and Total Voting Rights - Replacement
The issuer advises that the following replaces the Maven Income
and Growth VCT 4 PLC - Issue of Equity and Total Voting Rights
announcement released at 09.50 BST on 2 July 2014.
At the end of the third paragraph in the announcement the number
of Ordinary Shares allotted pursuant to the Offer and the number of
additional Ordinary Shares allotted have now been identified
separately, and the date on which dealings in shares is expected to
commence has been revised to "on or around 8 July 2014".
The reference to the date of the announcement by the Board (of
the postponement of the allotment of Ordinary Shares) has been
corrected to state 30 April 2014.
All other details remain unchanged.
The full amended version is shown below.
On 24 October 2013, Maven Income and Growth VCT 4 plc (the
"Company"), Maven Income and Growth VCT plc, Maven Income and
Growth VCT 2 plc, Maven Income and Growth VCT 3 plc, Maven Income
and Growth VCT 5 plc and Maven Income and Growth VCT 6 plc
(together "the Companies") announced that they had published a
Prospectus (comprising a Securities Note, Registration Document and
Summary) in relation to offers for subscription for new Ordinary
Shares in each of the Companies to raise, in aggregate, up to GBP20
million (before issue costs) together with an over-allotment
facility for up to a further GBP5 million, in aggregate (the
"Offer").
In view of discussions between the VCT industry and HM Treasury
regarding proposed changes to regulations contained in The Finance
Bill 2014, which would have applied to VCT shares issued on or
after 6 April 2014, the Company announced on 30 April 2014 that the
Directors of the Company proposed to postpone the allotment of new
Ordinary Shares under the Offer for the 2014/15 tax year until the
Directors believed that there was certainty that allotments could
take place without contravening the new rules. HM Treasury has
clarified the operation of these new regulations to the Board's
satisfaction and, on 28 May 2014, the Board announced that the
Offer would close at 5.00 pm on 30 May 2014 unless fully subscribed
by an earlier date, with the allotment and listing of the new
Ordinary Shares occurring as soon as practicable thereafter.
The Board now confirms that all valid applications in respect of
the 2014/15 tax year have been accepted in full and in relation to
the applications received the Company issued and allotted a further
548,108 Ordinary Shares of 10 pence each on 1 July 2014 at an offer
price of 99.07p per Ordinary Share (533,929 of which were allotted
to applicants pursuant the Offer and a further 14,179 of which were
allotted to the same persons at the same offer price as a result of
the delay in allotting those shares pursuant the Offer).
As a result of the further allotment the number of Ordinary
Shares now in issue is 29,406,381, and the total voting rights of
the Company, is 33,270,257.
Dealings in all the Ordinary Shares allotted are now expected to
commence on or around 8 July 2014.
Since the publication of the Prospectus, in aggregate, 4,273,209
Ordinary Shares of 10 pence each have been issued by the Company in
relation to the Offer, with net proceeds of GBP4.09 million being
raised by the Company through the issue of those shares.
For further information please contact Maven Capital Partners UK
LLP by telephone on 0141 306 7400 or by e-mail to
enquiries@mavencp.com.
Maven Capital Partners UK LLP
Secretary
4 July 2014
This information is provided by RNS
The company news service from the London Stock Exchange
END
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