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22 Jul 2020 14:25
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 £20 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 £20 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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