Last checked at 
8 Feb 2024 10:15
Maven Income and Growth VCT 3 PLC (the Company)
Issue of Equity
On 13 October 2023, the Company launched an offer for subscription for new ordinary shares of 10p each (Ordinary Shares) to raise up to £5 million, with an over-allotment facility for up to a further £2.5 million (the Offer).
Pursuant to the Offer, a total of £1,682,935 of valid applications were received in the period from 9.00am on 13 December 2023 up to and including 5.00pm on 31 January 2024 in respect of the 2023/2024 tax year. This is the second allotment in respect of the 2023/2024 tax year and, as a result, the Company has issued and allotted 3,163,420 new Ordinary Shares on 8 February 2024. In accordance with the allotment formula set out in the prospectus for the Offer, the offer prices at which the shares were issued were in the range of 52.48p to 54.67p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 117,510,709. Therefore, the total number of voting rights in the Company is 117,510,709. The total amount raised by the Company for the 2023/2024 tax year to 5 February 2024 is £2,361,102.
In respect of this allotment, an application will be made by the Company to the FCA and to the London Stock Exchange for the new Ordinary Shares so issued to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities. It is expected that the admission of the new Ordinary Shares will become effective, and dealings will commence, on or around 12 February 2024.
The above statement of Voting Capital may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.
The Board of the Company intends that further allotments in respect of applications for the 2023/2024 tax year will take place on, or before, 31 March 2024 and on, or before, 5 April 2024. It is also intended that an allotment in respect of applications for the 2024/2025 tax year will take place on, or before, 1 May 2024. For these future allotments, and those made to date, the Company's Offer has received applications totalling £2,660,793.
For further information, please contact:
Maven Capital Partners UK LLP
Telephone: 0141 306 7400
E-mail: enquiries@mavencp.com
Maven Capital Partners UK LLP
Secretary
8 February 2024