Maven Income and Growth VCT
Maven Income and Growth VCT PLC is a generalist VCT aiming to achieve long term capital appreciation and generate maintainable levels of income for shareholders.
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Shareholder enquiries and documents
For Shareholding enquiries you can contact the Registrar, Link Asset Services, on vcts@linkgroup.co.uk, or via Link’s shareholding portal at www.signalshares.com which enables you to easily access and maintain your shareholding and address details online, as well as being able to change the way Link communicates with you and specify how you wish to receive dividends. All instructions to amend the share register should be given via the Share Portal or in writing to Link Assets Services, The Registry, 34 Beckenham Road, Beckenham, BR3 4TU.
Link also operates a dedicated non-premium rate VCT shareholder helpline on behalf of the Maven VCTs, on 0333 300 1566. 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. Please note that the helpline cannot provide any financial, legal, investment or tax advice.
Annual and Interim Reports
Annual and Interim Reports, and other shareholder documents, are available for download on this page. Maven and the VCTs are committed to reducing the number of shareholder documents sent by post, both to minimise costs for VCT shareholders and to reduce the environmental impact of printing substantial documents. If you currently receive hard copy documents and would rather receive notifications by post , or would like to switch from postal to email notifications, you should advise Capita using the details above.
Caution: Unsolicited offers for shares
Some shareholders have received unsolicited calls from organisations offering to buy their VCT shares at prices much higher than current market values, or to sell non-tradable, overpriced, high risk or even non-existent securities. Whilst the callers may sound credible, shareholders should be aware that their intentions are often fraudulent. If you receive such a call, you should exercise caution and take note of the advice available from the ACTION FRAUD and Financial Conduct Authority (FCA) websites.
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.
Dividends
Paid/declared (last 12 months)
5.10p - 22 June 2018
7.45p - 13 April 2018
2.70p - 30 November 2017
2.96p - 14 July 2017
NAV Total Return Performance
NAV (at 31 August 2018)
46.25p*
NAV Total Return 2004**
84.10p
NAV Total Return 2018
141.16p
Increase in Total Return
67.85%
*The NAV per share shown above will be reduced by the payment of any subsequent dividends (see table below)
**As at the reporting date closest to when the current fund manager was appointed.
Price and Yield Information
View Share Price and Announcements
Yield on Cost
22.76%**
Gross Yield†
30.35%
**Based on dividends shown (including any exceptional payments) and a net purchase price of 80p. Shares acquired as new-issue shares, after initial tax relief available.
†The yield a higher rate taxpayer would need to achieve on a taxable UK equity portfolio to match costs.
Key Data
Ordinary Shares in Issue
(total voting rights)
52,863,884 (at 28 January 2019)
Latest/Announced AGM
5 July 2018 (London)
Next Continuation Vote
2020
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.
Investment Portfolio (as at 31 August 2018)
Valuation by deal type
Valuation by industry group
Top 10 Investments (excluding acquisition vehicles)
Top Ten Investments |
6,316 |
9,207 |
Total Investments |
22,707 |
21,573 |
Total Number of Investments |
58 |
|
Net Asset Value |
24,568 |
|
| Cost £'000 | Valuation £'000 | |
|
Martel Instruments Holdings |
1,234 | 1,103 |
|
GEV Holdings |
728 | 1,068 |
|
Vodat Communications Group |
567 | 1,024 |
|
ELE Advanced Technologies |
192 | 993 |
|
CatTech International |
627 | 982 |
|
Ensco 969 (trading as DPP) |
733 | 885 |
|
Maven Co-invest Endeavour Partnership (invested in Global Risk Partners) Investment vehicle undertaking a buy and build in the specialty insurance sector |
436 | 871 |
|
JT Holdings (trading as Just Trays) |
522 | 796 |
|
CB Technology Group |
579 | 755 |
|
The GP Service (UK) |
698 | 730 |
Dividend History
| Total Dividend Paid or Declared | 94.91 | ||
| Year Ended February | Payment Date | Interim/Final | Rate (p) |
| 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 | |
| 2016 | 15 July 2016 | Final | 1.20 |
| 27 May 2016 | Interim | 2.40 | |
| 27 November 2015 | Interim | 2.40 | |
| 2015 | 17 July 2015 | Final | 3.50 |
| 5 December 2014 | Interim | 2.40 | |
| 2001-2014 | 58.80 |
Shareholder Documents
MIG Historical Reports and Accounts
VCT 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. Currently non-executive chairman of CognitoIQ Limited, as well as a non-executive director of Electric & General Investment Fund Limited, he is also the founder of Young British Entrepreneur Limited and a director of Synergie Global Limited.
Dr Alison Fielding
Independent Director
Alison is an experienced entrepreneur, senior executive and non-executive director within both large and small organisations. She is a venture partner at IP Group plc, a role that includes non-executive directorships with two portfolio companies: Perachem Holdings plc, of which she is chairman; and Getech Group plc, where she chairs the audit committee. Alison has held a number of other non-executive roles including current non-executive directorships with Nanoco Group plc and Queen Mary Innovation Limited, and as a serving trustee of the Royal Voluntary Service and 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, IPOs, secondary public market offerings and mergers & acquisitions.
Arthur MacMillan
Independent Director
For over 10 years to December 2005, Arthur was chief executive of Clyde Marine plc, a group which manufactures deck equipment for sail and power boats under the Lewmar and Navtec brands. 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.
For information on your shareholding please contact Link Asset Services on 0333 300 1566, email vcts@linkgroup.co.uk, or access the share portal here:
Contact Link