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LONDON - Maven Income and Growth VCT 5 PLC (the Company) has announced the closure of its latest equity offer after reaching the full subscription limit of £10 million. The offer, which was initiated on September 27, 2024, to raise funds by issuing new ordinary shares, was fully subscribed as of March 27, 2025.
The Company received £2,648,633 of valid applications from 9:00 am on February 14, 2025, until 9:00 am on March 24, 2025, for the 2024/2025 tax year. Consequently, Maven Income and Growth VCT 5 PLC has issued 7,937,326 new ordinary shares at prices ranging from 32.48p to 33.35p per share. This issuance increases the total number of ordinary shares in issue to 229,870,842, which also represents the total voting rights within the Company.
Shareholders may use this total as the denominator for calculations to determine any changes in their shareholding that need to be disclosed under the Financial Conduct Authority’s (FCA) Disclosure Guidance and Transparency Rules.
The Company plans to apply for the new ordinary 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. The admission and the start of dealings are expected to take place on or around March 31, 2025.
This recent event marks the third allotment for the 2024/2025 tax year, with the Board signaling that one further allotment for this tax year is anticipated on or before April 4, 2025. Additionally, an allotment for applications pertaining to the 2025/2026 tax year is scheduled on or before May 2, 2025.
The information contained in this article is based on a press release statement issued by Maven Income and Growth VCT 5 PLC.
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