LONDON - Maven Income and Growth VCT PLC, a venture capital trust, has issued 422,112 new ordinary shares under its Dividend Investment Scheme (DIS) on November 29, 2024, the company confirmed Friday. The new shares, priced at 39.56 pence each, are equivalent to the company's most recently announced net asset value per share.
Following this issue, the company's issued share capital consists of 159,591,793 ordinary shares, each with one voting right. This count will serve as the denominator for shareholders to determine if they need to disclose changes in their company interest as per the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The new shares are expected to be admitted to the Official List and to commence trading on the London Stock Exchange (LON:LSEG)'s main market around December 5, 2024. The admission is pending approval from the Financial Conduct Authority and the London Stock Exchange.
This issuance is part of Maven Income and Growth VCT PLC's ongoing efforts to provide shareholders with options to reinvest their dividends into new shares of the company. It represents an opportunity for investors to increase their stake in the company under the terms set by the DIS.
The information regarding the issuance of equity is based on a press release statement from Maven Capital Partners (WA:CPAP) UK LLP, the secretary for Maven Income and Growth VCT PLC. The company manages a variety of investments, primarily in the United Kingdom (TADAWUL:4280), aimed at generating capital appreciation and providing shareholders with a dividend income.
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