CVC Income & Growth Limited Announces Issue Price of £1.1979 Per Sterling Share for Placing and WRAP Retail Offer

Dual Currency Pricing and NAV Premium Explained

CVC Income & Growth Limited has set its fundraising prices with careful attention to shareholder value. Sterling-denominated redeemable ordinary shares are priced at a31.1979 per share, while Euro-denominated shares are set at ac1.0955 per share. Both prices include a 0.65% premium over the respective cum-income net asset value per share calculated on 10 July 2026, the valuation date serving as the offer benchmark.

This dual currency pricing strategy caters to the companys diverse investor base and operational framework, enabling participation in either Sterling or Euro denominations. The 0.65% premium aligns with typical institutional placing and retail offer practices in the closed-ended fund sector, offsetting fundraising administrative costs and contributing modestly to existing shareholders. This approach balances attracting new capital with safeguarding current investors interests.

Fundraising Timeline: Closing and Settlement

The placing and WRAP retail offer will close at 2:00pm on 21 July 2026, providing a clear deadline for investor applications. This timing follows standard London-listed investment company fundraising protocols, allowing adequate processing before results announcement.

Results are expected to be announced on 22 July 2026, detailing demand, capital raised, and allocation specifics. Settlement is planned for 24 July 2026, adhering to the standard three-day settlement cycle in UK equity markets. This schedule accommodates institutional investors, financial advisers, and retail participants via the WRAP platform to complete transactions smoothly.

Overview of Placing and Retail Offer Structure

This fundraising follows CVC Income & Growth Limiteds 8 July 2026 announcement titled "Proposed Placing and Retail Offer," outlining a capital raise through an institutional placing and a WRAP retail offer. The placing targets institutional investors and major shareholders, while the WRAP retail offer opens access to UK retail investors via the Winterflood WRAP platform. This dual approach maximizes share accessibility and fundraising efficiency.

The dual market structure reflects contemporary closed-ended fund practices, expanding the shareholder base and enhancing retail investor access. The WRAP platform facilitates retail participation through independent financial advisers, enabling efficient client transactions. By combining placing and retail offers, CVC Income & Growth Limited aims to leverage investor interest across institutional and retail segments, potentially boosting market liquidity.

Share Class and Redemption Details

The shares issued are "redeemable ordinary shares of no-par value," a structure common among closed-ended investment companies. These shares may be redeemable under certain conditions and carry no nominal value, a feature prevalent in modern investment vehicles. Redeemability may offer liquidity benefits depending on company policies.

The distinction between Sterling and Euro-denominated shares is a key capital structure feature, allowing effective currency exposure management and catering to the geographic spread of investors. Euro-denominated shares express returns and capital in Euros, providing currency hedging for investors with Eurozone liabilities or investments. This denomination flexibility appeals to multi-currency institutional portfolios.

Placement Agent and Administrative Contacts

Winterflood Securities Limited is appointed as placement agent, reachable at +44 (0)20 3100 0000. As a recognized market participant, Winterflood supports the fundraising by providing placement and distribution services to investment companies and capital market participants, ensuring professional execution and investor support.

BNP Paribas S.A., Jersey Branch serves as Company Secretary and primary administrative contact, available at [email protected] or +44 (0) 1534 813800. Their involvement highlights professional governance and regulatory compliance across jurisdictions where the company operates and markets its shares.

Regulatory and Geographic Distribution Restrictions

The offer is not intended for investors in the United States, Australia, New Zealand, Canada, South Africa, Japan, or European Economic Area member states. These restrictions comply with cross-border securities regulations and ensure lawful offerings only in authorized markets.

The announcement clarifies it is "not an offer to sell, or solicitation to acquire, securities in the United States or any jurisdiction where unlawful," providing legal protection and defining the fundraisings geographic scope. Investors and advisers are reminded that this announcement and related documents do not constitute contracts outside authorized territories, reflecting stringent international capital raising regulations.

Valuation Method and NAV Calculation

The issue price premium is based on the "cum-income" net asset value per share as of 10 July 2026. Cum-income NAV includes accrued but unpaid income, ensuring new subscribers do not dilute existing shareholders accrued income distributions. This valuation method is standard in investment company fundraisings.

The 10 July 2026 valuation date balances proximity to the announcement and closing dates, reflecting current market conditions while allowing administrative preparation. The cum-income approach preserves NAV integrity and protects existing shareholders regarding timing and terms.

Distribution Channels and Investor Access

The fundraising uses two channels: an institutional placing targeting large investors such as fund managers and pension funds, and a WRAP retail offer for UK retail investors via authorised financial advisers and the Winterflood WRAP network. WRAP facilitates retail participation through Withdrawal, Reapplication, Accumulation, and Platform mechanisms.

This combined approach aims to diversify the shareholder base and enhance market liquidity, aligning with best practices in closed-ended fund capital raising and recognizing the importance of both institutional and retail investor markets.

Company Identification and Regulatory Compliance

CVC Income & Growth Limited is identified by its Legal Entity Identifier (LEI) 213800Z42Y242CIWJ785, a regulatory requirement ensuring precise entity identification across jurisdictions. This facilitates regulatory oversight and investor verification.

Providing LEI and contact details for the company secretary and placement agent reflects the companys commitment to professional governance and regulatory compliance. Investors can access official contacts for fundraising participation or inquiries, demonstrating transparency in this capital market transaction.

Market Context and Investor Guidance

CVC Income & Growth Limited regularly conducts fundraisings to maintain or grow assets, adapt to market conditions, and offer investors opportunities to increase exposure to its strategy. This July 2026 fundraising reflects current market assessments and investor demand, with the retail offer indicating confidence in broad investor appeal.

The 0.65% premium above NAV balances fundraising costs with attractiveness to subscribers. Prospective investors should assess alignment with their investment goals, risk tolerance, and asset allocation. Dual currency options provide flexibility for managing currency risk within diverse portfolios.