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.