Securities Trust of Scotland : Issue of Equity - Replacement

Maven Income and Growth VCT 5 PLC (the Company)

Issue of Equity - Replacement announcement

The issuer advises that the following replaces the Maven Income and Growth VCT 5 PLC Issue of Equity announcement released at 09.17 BST on 4 April 2019 under RNS No. 1270V

The references to the proposed new number of Ordinary Shares in issue and the total number of voting rights have been amended.

All other details remain unchanged.

The full amended version is shown below.

Maven Income and Growth VCT 5 PLC (the Company)

Issue of Equity

On 26 September 2018, the Company launched an offer for subscription for new ordinary shares of 10p each (Ordinary Shares) to raise up to £15 million, with an over-allotment facility for up to a further £5 million (the Offer). On 20 February 2019, the Company announced that the Board of the Company had resolved to exercise its discretion to utilise the over-allotment facility of £5 million. On 25 March 2019, the Company announced that, as the over-allotment facility had been utilised in full, the Offer had closed fully subscribed.

Pursuant to the Offer, and the £4,441,328 of valid applications received from 4 March 2019 until the closure of the offer on 25 March 2019, in respect of the 2018/2019 tax year, the Company has issued and allotted 11,806,268 new Ordinary Shares on 3 April 2019. In accordance with the allotment formula set out in the prospectus for the Offer, the offer prices at which the shares were issued were in the range of 37.31p to 37.92p per Ordinary Share and, as a result, the number of Ordinary Shares now in issue is 124,801,565. Therefore, the total number of voting rights in the Company is 124,801,565.

In respect of this allotment, an application will be made by the Company to the UK Listing Authority and to the London Stock Exchange for the new Ordinary Shares so issued to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities. It is expected that the admission of the new Ordinary Shares will become effective and dealings will commence on or around 5 April 2019.

The above statement of Voting Capital may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Board intends that a final allotment in respect of applications for the 2019/2020 tax year will take place on or before 26 April 2019.

For further information, please contact:

Maven Capital Partners UK LLP

Telephone: [phone]

E-mail: [e-mail]

Maven Capital Partners UK LLP

Company Secretary

4 April 2019