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LONDON - Maven Income and Growth VCT 3 PLC has successfully completed an equity issue, raising a total of £10 million through an offer for subscription of new ordinary shares. The company announced the final allotment of shares for the 2025/2026 tax year on Tuesday, with £632,425 worth of valid applications received from 27 September 2024 to 1 April 2025.
The offer, which was launched on 27 September 2024, aimed to raise up to £5 million with the possibility of an additional £5 million through an over-allotment facility. The company confirmed that with this final allotment, it has issued 1,267,915 new ordinary shares at prices ranging from 49.32p to 50.10p per share. Following the issuance, the total number of ordinary shares in issue now stands at 139,135,954, which is also the total number of voting rights.
The funds raised through this offer are split evenly across the 2024/2025 and 2025/2026 tax years, with each year contributing £5 million to the total. Maven Income and Growth VCT 3 PLC has stated that the new shares will be admitted to the Official List and commence trading on the London Stock Exchange (LON:LSEG)’s main market for listed securities around 8 May 2025.
Shareholders are advised that the updated statement of voting capital can be used as the denominator for calculations to determine if they need to notify their interest or a change in their interest in the company, in line with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This financial move is part of the company’s strategy to expand its capital base and provide additional funds for investment opportunities. The information provided in this article is based on a press release statement from Maven Income and Growth VCT 3 PLC.
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