Maven Income & Growth VCT PLC Statement re Joint Offer for Subscription (1380T)
01 Octubre 2014 - 4:50AM
UK Regulatory
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RNS Number : 1380T
Maven Income & Growth VCT PLC
01 October 2014
Joint Announcement
Maven Income and Growth VCT plc, Maven Income and Growth VCT 2
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: Proposed VCT Fundraising
The Directors of the Companies are pleased to announce the
intention to raise up to GBP18 million, in aggregate, by way of
offers for subscription for new ordinary shares (the "Offers").
Maven Income and Growth VCT plc, Maven Income and Growth VCT 2 plc,
Maven Income and Growth VCT 3 plc and Maven Income and Growth VCT 5
plc will each be aiming to raise up to GBP4 million, with Maven
Income and Growth VCT 4 plc aiming to raise up to GBP2 million.
It is intended that the Offers should provide for investor
choice and an applicant will be able to elect to subscribe equally
in each of the five Companies, or can choose to invest amounts of
their choice in one or more of the Offers, in accordance with the
terms to be set out in the Prospectus for the Offers, and subject
to those Offers selected remaining open.
It is anticipated that the Offers will remain open until 1 April
2015 in respect of the 2014/15 tax year and until late April 2015
in respect of the 2015/16 tax year, unless fully subscribed at an
earlier date and subject to each Board's right to close or extend
the relevant Offer at any time. As there will be no minimum
aggregate subscription for a Company, potential investors can be
assured that the Offers, once launched, will proceed.
The full terms of the Offers will be set out in a detailed
Prospectus to be approved by the UK Listing
Authority and which is expected to be issued in October
2014.
On behalf of the Boards
Maven Capital Partners UK LLP, Secretary
1 October 2014
This information is provided by RNS
The company news service from the London Stock Exchange
END
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