Published: Oct 16, 2023
Focus: Growth Capital
The four Maven VCTs have launched new offers, seeking to raise up to £30 million (including aggregate over allotment facilities of £10 million). Investors have the opportunity to apply for new shares in any combination of Maven VCT 1, Maven VCT 3, Maven VCT 4 and Maven VCT 5 using a single application.
Each of the VCTs has a long term track record of delivering positive shareholder returns, with a target annual dividend of around 5% of NAV per Share, and investors in the Offers will benefit from access to highly diversified, established portfolios of carefully vetted emerging UK companies with high growth potential. Qualifying investors will also benefit from a range of attractive tax benefits, including up to 30% initial income tax relief, tax free dividends and exemption from capital gains tax on the sale of their shares.
The funds raised will be used to continue the expansion of the VCT portfolios, targeting ambitious and growing younger companies across the UK regions, as well as providing follow-on funding to existing portfolio companies as they achieve agreed commercial milestones to help them scale and accelerate growth.
An Early Investment Incentive discount is available for valid applications received by 31 January 2024, which will reduce the initial offer cost for an investor and increase the number of new shares they receive. Existing Maven VCT shareholders will be eligible to receive an enhanced 1.5% discount in recognition of their continued support for the Maven VCTs.
Further information about the offers, including key documentation, is available here.
This is neither a prospectus not an invitation to invest. Any decision to invest should be made solely on the basis of information contained in the Prospectus (comprising a Securities Note, Registration Document and Summary) which can be found at the webpage noted above. Past performance is not a guide to future performance, and the payment of dividends is not guaranteed.