Publication of a Prospectus

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.

Joint Announcement by Maven Income and Growth VCT PLC, Maven Income and Growth VCT 3 PLC, Maven Income and Growth VCT 4 PLC and Maven Income and Growth VCT 5 PLC

Offer for Subscription

A prospectus relating to offers for subscription by Maven Income and Growth VCT PLC, Maven Income and Growth VCT 3 PLC, Maven Income and Growth VCT 4 PLC and Maven Income and Growth VCT 5 PLC (together the "Companies" and each a "Company") to raise up to, in aggregate, £40,000,000 including over-allotment facilities for up to, in aggregate, £20,000,000 through the issue of new ordinary shares of 10p each in the capital of the Companies (each an "Offer" and together the "Offers"), was issued by the Companies on 27 September 2024 (the "Prospectus").

The Companies have also published a joint Circular (the "Circular") seeking the approval of their respective shareholders for various matters, including obtaining shareholder approval of allotment and disapplication authorities in connection with the Offers and each Company giving notice of a General Meeting to be held on 14 November 2023 (the "General Meeting").

The Offers will open on 27 September 2024 and are expected to close no later than 5 April 2025 for shares to be allotted in the 2024/25 tax year, and no later than 1 May 2025 for shares to be allotted in the 2025/26 tax year (unless fully subscribed by an earlier date or previously extended by the directors to no later than 26 September 2025).

Each Offer is conditional on the passing of certain resolutions at the relevant General Meeting as set out in the Circular.

Pursuant to individual offer agreements dated 27 September 2024 relating to the Offer between, among others, the Companies and Maven Capital Partners ("Maven"), Maven, in exchange for providing administration services and endeavouring to procure subscribers in connection with the Offer, will receive a fee of up to 2.5% of the aggregate amount received by the Companies from subscribers under the Offer. Maven, as the investment manager of the Companies, is a related party of the Companies under UK Listing Rule 11.5.3R, and the payment of such a fee by the Companies to Maven is a related party transaction of an adequate size under UK Listing Rule 11.5.4R for UK Listing Rule 8.2.1R to apply. The Board considers this transaction fair and reasonable as far as the shareholders of the Company are concerned and have been provided with written confirmation of this by the Company's sponsor, Howard Kennedy Corporate Services LLP.

To obtain a copy of the Prospectus, private investors and financial advisers should call Maven Capital Partners LLP on 0141 306 7400. A downloadable version of the Prospectus will also be available from the Maven website: www.mavencp.com/vctoffer.

Copies of the Prospectus and Circular are available, free of charge, from Maven Capital Partners UK LLP at Kintyre House, 205 West George Street, Glasgow G2 2LW.

A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for viewing online at the following website address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 

Any enquiries in respect of the Offers should be directed to:

Maven Capital Partners UK LLP

Telephone: 0141 306 7400

E-mail: [email protected] 

The information contained within this announcement is deemed by the Companies to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

Notes

This announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investment in any jurisdiction, nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor.