Circ re. Enhanced Buyback Scheme

RNS Number : 2780K

Maven Income and Growth VCT 5 PLC

17 August 2012

 



Maven Income and Growth VCT 5 PLC

Publication of Circular

Summary

The board of directors ("Board") of Maven Income and Growth VCT 5 PLC ("Company") is today sending out a circular ("Circular") to shareholders in relation to a proposed enhanced buyback scheme in respect of the ordinary shares of 10p each in the capital of the Company ("Shares"), such scheme being for up to 14.99% of the issued share capital of the Company ("Enhanced Buyback Scheme").

The Enhanced Buyback Scheme is subject to shareholder approval being provided at a general meeting convened for 19 September 2012 pursuant to the Circular. The Enhanced Buyback Scheme has opened today for application. If the Enhanced Buyback Scheme is oversubscribed, Applications will be scaled back on a pro rata basis to the amount of Existing Shares tendered, subject always to the Board's discretion.

Enhanced Buyback Scheme

The Company is offering to purchase up to a maximum of 8,885,642 Existing Shares, which represent 14.99% of the issued share capital as at 17 August 2012, subject to the proceeds of sale being reinvested in New Shares.

The record date to be eligible to participate in the Enhanced Buyback Scheme is 5.00 p.m. on 12 October 2012.

The closing date for applications pursuant to the Enhanced Buyback Scheme is 12.00 noon on 12 October 2012.

Further details on the Enhanced Buyback Scheme, including the terms and conditions and tax consequences of participating, are set out in the Circular and application form. Shareholders are further advised to consult their independent financial adviser.

Availability of Documents

The Circular has been submitted to the Financial Services Authority and will shortly be available for inspection both at the National Storage Mechanism, which is located at:

http://www.hemscott.com/nsm.do

and the Company's website:

http://www.mavencp.com/migvct5

Issued on behalf of the Board

Maven Capital Partners UK LLP, Secretary

17 August 2012

 

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