Maven Income and Growth VCT 5 Secures £2.1 Million Funding
Maven Income and Growth VCT 5 Secures Funds Through New Shares
Maven Income and Growth VCT 5 PLC, an investment firm based in the UK, has successfully issued 6,260,033 new ordinary shares. This move follows a well-received subscription offer aimed at raising a total of £10 million. With an initial target set at £5 million, the offer saw a significant response from investors.
Successful Subscription Offer
During the subscription offer, which opened on September 27, 2024, Maven Income and Growth VCT 5 PLC received applications totaling £2,147,026 by the December deadline. A notable portion of this amount, specifically £2,051,660, was raised with a focus on the tax year 2024/2025. The shares were issued at offer prices varying between 32.39p and 32.82p each, contributing to the total ordinary shares now standing at 214,334,683.
Share Trading on the Horizon
The newly issued shares are set to be admitted to the Official List and commence trading on the London Stock Exchange, denoting a crucial step in Maven Income and Growth VCT 5's continuous efforts to enhance investment prospects while providing potential tax advantages for shareholders in the current tax year.
Future Allotments Anticipated
Looking ahead, Maven Income and Growth VCT 5 PLC is preparing for a subsequent allotment after the Early Investment Incentive period concludes at 5:00 PM on February 7, 2025. This planned future allotment indicates the company’s commitment to accommodating additional applications as demand continues to grow for the ongoing tax period.
Understanding Voting Rights and Capital
Shareholders are reminded that the company has set the total number of ordinary shares in play, which also reflects the count of voting rights for the company. This information serves as an essential guideline under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules for shareholders to evaluate any necessary disclosures regarding changes in their interests.
Frequently Asked Questions
What amount did Maven Income and Growth VCT 5 raise?
The company raised £2.1 million through the issuance of new shares during its subscription offer.
When did the subscription offer commence?
The subscription offer opened on September 27, 2024.
When are the new shares expected to start trading?
The new shares are anticipated to commence trading on the London Stock Exchange around December 23, 2024.
What is the focus of the current tax year for applications?
The focus is on the 2024/2025 tax year, which includes the applications received during that period.
Will there be more allotments in the near future?
Yes, a subsequent allotment is planned after the end of the Early Investment Incentive period, concluding on February 7, 2025.
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