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.
Important Information regarding investing in VCTs. Please take the time to read this before proceeding.
Taxation rules and legislation may be subject to change. The value of tax relief depends on personal circumstances.
Past performance of Maven VCTs is not an indication of future performance. The price of VCT shares can fall and rise in value and may be difficult to sell.
Maven VCTs invest in smaller, early stage companies, which can be difficult to value and dispose of.
Maven VCTs aim to pay regular dividends to shareholders but these are not guaranteed.
Maven VCTs are intended for UK taxpayers aged 18 or over with an investment horizon of five or more years and who are able to bear 100% capital loss and with a medium to high risk tolerance. Investors in Maven VCTs will generally be informed investors with either experience in investing in VCTs or with a knowledge and understanding of the risks involved. If you are unsure about the risks of investing in VCTs you should always seek the advice of a regulated financial adviser.
Current Offer
The Maven VCT 3 and VCT 4 Offers are still open until 27 May for 2022/2023 applications.
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
See all Historical Reports and Accounts
MIG Current Circulars and KIDs
See all Historical 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
Accessing your Shareholding information online
You can register with City’s online Investor Hub to view your shareholding, including indicative valuation, share certificate details and dividends, as well as changing your personal details and selecting how to receive Shareholder communications. To ‘Register’ a shareholding and create your account you will need to enter your Investor Access Token (found on your welcome email or letter from City, or contact City if you don’t have a token). Once you are registered, simply ‘Login’ each time using the email address and password you provided on registration. If you have shareholdings in multiple Maven VCTs, you will initially need to register each VCT holding as above - however, once you set up a Hub account for one Maven VCT, you can use the ‘Register Access’ option to view all of your Maven VCT shareholdings together.