LONDON - Maven Income and Growth VCT 3 PLC, a UK-based venture capital trust, has successfully raised £1,915,672 through the issuance of new ordinary shares, as part of an offer to raise up to £10 million, which commenced on September 27, 2024. The company announced today that it allotted 3,523,208 new ordinary shares on Wednesday, following the receipt of valid applications.
The shares were issued at prices ranging from 51.31p to 51.99p per share, in accordance with the terms set out in the prospectus. This new issuance increases the total number of ordinary shares in issue to 124,652,826, and consequently, the total voting rights in the company.
The company expects the new shares to be admitted to the Official List and to commence trading on the London Stock Exchange (LON:LSEG)'s main market for listed securities around December 23, 2024. This move is part of the company's ongoing efforts to provide investors with the opportunity to invest in a range of UK smaller companies, while also offering tax incentives associated with venture capital trusts.
In line with the Financial Conduct Authority's (FCA) Disclosure Guidance and Transparency Rules, the company has provided the updated figure of its voting capital, which shareholders can use as the denominator for calculating notifications of interest or changes to their interest in the company.
Maven Income and Growth VCT 3 PLC also indicated that a further allotment of shares for the 2024/2025 tax year is expected to occur shortly after the Early Investment Incentive period ends at 5.00pm on February 7, 2025.
This information is based on a press release statement from Maven Income and Growth VCT 3 PLC.
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