(Correcting that both VCTs remain open for subscriptions as they haven't reached the GBP40 million total capacity.)
Maven Income & Growth VCT PLC and Maven Income & Growth VCT 5 PLC - investment trusts managed by London-based Maven Capital Partners - The two venture capital trusts complete first share allotments, having raised GBP23.2 million of GBP40 million total capacity. The trusts each launched GBP10 million subscription offers back in October, each with GBP10 million over-allotment facilities that in February they confirmed they would utilise. Income & Growth VCT issues 28.5 million new shares at 43.62 pence to 44.19p, worth GBP12.6 million, and Income & Growth VCT 5 issues 24.9 million at 36.38p to 36.86p, worth GBP9.2 million, both for the 2020-21 tax year. A number of directors took part in the offer, including Alison Fielding of VCT and Graham Miller and Gordon Humphries of VCT 5.
Current stock price for VCT: 40.00p
Current stock price for VCT 5: 33.00p
By Tom Waite; thomaslwaite@alliancenews.com
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Maven Income 1 (MIG1)
Maven I&g Vct5 (MIG5)