LONDON - Maven Income and Growth VCT 5 PLC, a UK-based investment company, has announced the issuance and allotment of 6,260,033 new ordinary shares following a successful offer for subscription that commenced on September 27, 2024. The company aimed to raise up to £10 million with an initial target of £5 million and an equal over-allotment facility.
The offer attracted £2,147,026 of valid applications by the deadline of December 13, 2024, with a specific focus on the 2024/2025 tax year, which saw £2,051,660 in applications. As a result, the company issued new shares on Wednesday at offer prices ranging from 32.39p to 32.82p per share. This issuance increases the total number of ordinary shares in issue to 214,334,683, which is also the total number of voting rights in the company.
The newly issued shares are expected to be admitted to the Official List and to commence trading on the London Stock Exchange (LON:LSEG)'s main market around December 23, 2024. This move is part of the company's ongoing efforts to provide investment opportunities with potential tax benefits for the current tax year.
Following this allotment, Maven Income and Growth VCT 5 PLC plans a subsequent allotment after the end of the Early Investment Incentive period, which concludes at 5.00 pm on February 7, 2025. This future allotment is intended to accommodate additional applications for the 2024/2025 tax year.
The information in this article is based on a press release statement from Maven Income and Growth VCT 5 PLC. Shareholders may use the stated voting capital as the denominator for calculations to determine if they need to disclose changes in their interests under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
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