Maven Income and Growth VCT 3 Successfully Raises £1.9 Million
Maven Income and Growth VCT 3 Successfully Raises Funds
Maven Income and Growth VCT 3 PLC, a reputable venture capital trust in the UK, has made a significant financial move by raising £1,915,672 through the issuance of new ordinary shares. This fundraising effort is part of a larger initiative aimed at amassing up to £10 million, which commenced recently. In total, the company allotted 3,523,208 new ordinary shares, reflecting strong interest from investors.
Details of the New Share Issuance
The newly issued shares were priced between 51.31p and 51.99p each, adhering to the terms outlined in the company’s prospectus. With this issuance, the total number of ordinary shares outstanding has risen to 124,652,826, which in turn increases the total voting rights available to shareholders. This move is an important step in enhancing the company’s capital structure.
The Trading Platforms
Anticipation surrounds the upcoming admission of these new shares to the Official List. The shares are expected to begin trading on the London Stock Exchange's main market for listed securities around late December. This timetable demonstrates the company's commitment to providing robust investment opportunities aimed at UK smaller companies, while concurrently offering tax benefits associated with investing in venture capital trusts.
Compliance with Regulatory Standards
Maven Income and Growth VCT 3 PLC remains committed to transparency and compliance with the Financial Conduct Authority's (FCA) regulations. As part of this commitment, the company has updated its shareholders on the current status of its voting capital. This information is crucial for shareholders as it aids in calculating notifications of interest or any pertinent changes in their stakes within the company.
Future Growth Strategies
Looking ahead, Maven Income and Growth VCT 3 PLC plans to conduct another round of share allotment for the upcoming 2024/2025 tax year soon after the Early Investment Incentive window closes. This strategy indicates the company's proactive approach in engaging investors and maintaining sustained growth.
Conclusion and Company Overview
Maven Income and Growth VCT 3 PLC not only focuses on generating returns for its investors but also plays a crucial role in supporting the growth of small companies across the UK. Through their innovative funding strategies and commitment to investor transparency, they continue to uphold their reputation as a trusted venture capital trust.
Frequently Asked Questions
What is the purpose of the new share issuance by Maven VCT 3?
The new share issuance aims to raise funds to invest in a variety of UK smaller companies while offering investors associated tax incentives.
When will the new shares begin trading on the London Stock Exchange?
The new shares are expected to commence trading on the London Stock Exchange by late December.
How much capital is Maven VCT 3 aiming to raise?
Maven VCT 3 aims to raise up to £10 million through this fundraising initiative.
How will the new share issuance impact voting rights?
The issuance of new shares increases the total number of ordinary shares, thereby enhancing the total voting rights available to shareholders.
What does the future hold for Maven VCT 3?
The company plans to conduct further share allotments for the 2024/2025 tax year soon after the current Early Investment Incentive period concludes.
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