Maven Income 1 Share News (MIG1)

Maven Income & Growth VCT PLC - venture capital trust - 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 announce intention to raise GBP40 million. This will be by way of offers for subscription of new shares. Each company will raise up to GBP10 million, including an over-allotment facility of up to GBP5 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," companies say.

Current stock price: 37.00 pence

12-month change: down 7.5%

By Jeremy Cutler, Alliance News reporter

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