Maven Income and Growth VCT PLC

    Maven Income and Growth VCT PLC is a generalist VCT aiming to achieve long-term capital appreciation and generate income for Shareholders by investing in ambitious UK smaller companies with growth potential.

    Current Offer

    The Maven VCT 3 and VCT 4 Offers are still open until 27 May for 2022/2023 applications.

    Find out more

    Financial highlights

    As at 28 February 2022

    £60.00m

    Net Asset Value

    44.34p*

    NAV per Ordinary Share

    146.25p

    NAV Total Return per Ordinary Share

    101.91p

    Dividends paid to date per Ordinary Share

    100

    Unlisted and quoted investments

    17.05%**

    Tax free yield

    *The NAV per share shown above will be reduced by the payment of any subsequent dividends (see table below).

    **Based on average dividends paid or declared in respect of the past five full financial years (including any exceptional payments) and current NAV, for an assumed investment in new shares benefitting from the current 30% initial tax relief available on investment in new VCT shares (ignoring any initial offer costs).

    Key information

    Ordinary Shares in Issue

    (total voting rights) 134,323,293 (at 29 April 2022)

    History

    Launched - 1 February 2000.
    Maven Income and Growth VCT PLC was formerly known as Murray VCT 4 and Aberdeen Income and Growth VCT PLC.

    Registered Office

    Fifth Floor, 1-2 Royal Exchange Buildings, London, EC3V 3LF
    3908220

    Latest/Announced AGM

    7 July 2021

    Next Continuation Vote

    2027

    Live Share Price

    To view Share Price and LSE announcements please click here.

    Performance

    NAV Total Return per share

    Dividends

    Decisions on distributions take into consideration the availability of surplus revenue, the realisation of capital gains, the adequacy of distributable reserves and the VCT qualifying level, all of which are kept under close and regular review by the Board and the Manager. As the portfolio continues to expand and a greater proportion of holdings are invested in young companies, future distributions will be more closely linked to realisation activity, whilst also reflecting the Company’s requirement to maintain its VCT qualifying level. If larger distributions are required as a consequence of exits, this could result in a corresponding reduction in NAV per share.

     

    Total Dividends Paid or Declared 103.16

     

    Year Ended November
    Payment Date
    Interim/Final
    Rate (p)
    2022
    		 15 July 2022 Proposed final
      1.25
      
    		  3 December 2021   Interim
      1.00
    2021
    		 16 July 2021 Final
    1.00
      20 November 2020 Interim
    1.00
    2020
    		 31 July 2020 Final
    2.00
      22 November 2019 Interim
    2.00
    2019
    		 22 June 2018 Second Interim
    5.10
      13 April 2018 First Interim
    7.45
    2018
    		 30 November 2017 Second Interim
    2.70
      14 July 2017 Interim
    2.96
    2017
    		 26 May 2017 Interim
    3.60
      25 November 2016 Interim
    2.40
    2001 - 2016
    		    
    70.70

     

    Portfolio

    Top 10 Investments

    1. Martel Instruments Holdings

    Manufacturer of compact, handheld printers and display devices

    Cost £807,000 | Valuation £1,538,000
    % of net asset by value 2.5

    2. Life's Great Group Limited (trading as Mojo Mortgages)

    Digital mortgage broker

    Cost £820,000 | Valuation £1,380,000
    % of net asset by value 2.2

    3. Relative Insight Limited

    Linguistic analysis software platform

    Cost £700,000 | Valuation £1,260,000
    % of net asset by value 2.0

    4. Horizon Ceremonies Limited (trading as Horizon Cremation)

    Develops, operates and owns purpose built crematoria across the UK

    Cost £788,000 | Valuation £1,184,000
    % of net asset by value 1.9

    5. CatTech International Limited

    Specialist industrial services business focusing on the extraction and replacement of catalysts at oil refineries and petro-chemical plants

    Cost £627,000 | Valuation £1,169,000
    % of net asset by value 1.9
     

    6. Vodat Communications Group Limited

    Provider of managed IT network and communications solutions to business customers

    Cost £567,000 | Valuation £1,024,000
    % of net asset by value 1.6

    7. Delio Limited

    Designs and builds digital private asset infrastructure for global financial institutions

    Cost £533,000 | Valuation £1,013,000
    % of net asset by value 1.6

    8. Rockar 2016 Limited (trading as Rockar)

    Innovative car retailer

    Cost £905,000 | Valuation £997,000
    % of net asset by value 1.6

    9. Bright Network (UK) Limited

    Media technology platform designed to enable leading employers to reach, identify and recruit good quality graduates and young professionals

    Cost £940,000 | Valuation £971,000
    % of net asset by value 1.6

    10. The GP Service (UK) Limited

    Provider of online services for general medical consultations and prescriptions

    Cost £860,000 | Valuation £892,000
    % of net asset by value 1.4

    Shareholder Documents

    Maven and the VCTs are committed to reducing the environmental impact of printing substantial documents. If you currently receive hard copy Annual and Interim Reports, and would prefer to receive email or postal notifications of their website publication, you should advise the Registrar, The City Partnership, using the contact details below.

    MIG Current Reports and Accounts

    MIG Interim Report 2021
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    MIG Annual Report 2021
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    See all Historical Reports and Accounts
    Click here
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    MIG Current Circulars and KIDs

    MIG Dividend Investment Scheme

    Board of Directors

    John Pocock

    Chairman and Independent Director

    John has extensive experience in the information technology and financial sectors and was formerly a director and chief executive of Druid Group plc, a FTSE 250 company that was acquired by Xansa plc in March 2000. He is currently non-executive chairman of Push Technology Limited, as well as a former non-executive director of Electric & General Investment Fund Limited. John is also the founder of Young British Entrepreneur Limited and a director of Synergie Global Limited and Lightsong Media Group Limited.

    Dr Alison Fielding

    Independent Director

    Alison is an experienced entrepreneur and non-executive director, with significant expertise in strategy development and implementation for both large and small organisations. She is currently a non-executive director and chair of the remuneration committee at Zotefoams PLC and Nanoco Group PLC, and non-executive director and chair of the audit committee at Getech Group PLC. Alison is also a non-executive director of Queen Mary Innovation Limited, and serves as a Trustee at the Carnegie Trust for the Universities of Scotland.

    Dr Andrew Harrington

    Independent Director

    Andrew is co-owner of AHV Associates LLP, which was formed in 2001, and works alongside management teams and shareholders across many sectors to advise on transactions, such as the purchase or sale of companies and capital raising. He was previously founder and chief executive of Nextcall Telecom, a business backed by venture and private investor capital, before which he was managing director at Salomon Brothers, where he advised on investment, initial public offerings, secondary public market offerings and mergers & acquisitions.

    Arthur MacMillan

    Independent Director

    Arthur is a qualified chartered accountant and, for over ten years to December 2005, was chief executive of Clyde Marine plc. Prior to that, he was a corporate financier with West Merchant Bank and Samuel Montagu & Co Limited in London. He is also an investor in, and an adviser to, a number of smaller businesses.

    Recommendations of non-mainstream investment products

    The Company currently conducts its affairs so that the shares issued by it can be recommended by independent financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The Company’s shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in a venture capital trust and the returns to investors are predominantly based on investments in private companies or publicly quoted securities.

    Shareholder Enquiries

    For enquiries about your shareholding please contact the registrar The City Partnership:

    Call: 01484 240 910

    Lines are open 0900 to 1730, Monday to Friday, excluding public holidays in England and Wales. Calls are charged at the standard geographic rate and will vary by provider. Calls from outside the UK will be charged at the applicable international rate.

    email: mavencp@city.uk.com

    The City Partnership
    The Mending Rooms
    Park Valley Mills
    Meltham Road
    Huddersfield, HD4 7BH

    Online Portal

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