Maven Income & Growth VCT PLC Statement re Intended Joint Offersfor Subscription (7935T)
22 July 2020 - 11:25PM
UK Regulatory
TIDMMIG1 TIDMMIG5
RNS Number : 7935T
Maven Income & Growth VCT PLC
22 July 2020
Maven Income and Growth VCT 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 GBP20 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 GBP20
million (the "Offers"), with shares to be issued in the 2020/21 and
2021/22 tax years.
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
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 Autumn 2020. A further announcement will be made
when the prospectus is available.
Applicants will be able to invest in either one or both of the
Offers, in accordance with the terms to be set out in the
prospectus for the Offers and subject to the relevant Offer
selected remaining open.
It is anticipated that the Offers will remain open until no
later than 30 March 2021 in respect of the 2020/21 tax year and
until 30 April 2021 in respect of the 2021/22 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
22 July 2020
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END
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