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 & Registrar
For Shareholding enquiries you can contact the Registrar, Link Market Services, on vcts@linkgroup.co.uk, or via Link’s shareholding portal at www.signalshares.com which enables you to easily access your shareholding and maintain 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 Market 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.
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 website as well as consulting the Financial Conduct Authority (FCA) website (which contains valuable information on how to avoid investment and pension scams).
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
Latest paid/declared
2.00p - 22 November 2019
See below for dividend history.
NAV Total Return Performance
NAV (at 20 March 2020)*
43.49p
NAV Total Return 2004**
84.10p
NAV Total Return 2019
140.37p
Increase in Total Return
66.91%
*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 LSE Announcements
Tax-free Yield†
23.72%
†Based on average dividends paid in 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 Data
Ordinary Shares in Issue
(total voting rights)
92,988,133 (at 30 November 2019)
Latest/Announced AGM
4 July 2019 (London)
Next Continuation Vote
2024
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 2019)
Valuation by deal type
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Valuation by industry group
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Top 10 Investments
Top Ten Investments |
6,436 |
10,639 |
Total Investments |
23,388 |
22,578 |
Total Number of Investments |
61 |
|
Net Asset Value |
25,250 |
|
| Cost £'000 | Valuation £'000 | |
|
ELE Advanced Technologies |
192 | 1,629 |
|
GEV Holdings |
728 | 1,489 |
|
Martel Instruments Holdings |
1,234 | 1,104 |
|
Vodat Communications Group |
567 | 1,024 |
|
CatTech International |
627 | 982 |
|
JT Holdings (trading as Just Trays) |
522 | 942 |
|
Ensco 969 (trading as DPP) |
733 | 885 |
|
Maven Co-invest Endeavour Partnership (invested in Global Risk Partners) |
436 | 871 |
|
Rockar 2016 (trading as Rockar) |
551 | 867 |
|
HCS Control Systems Group |
846 | 846 |
Dividend History
The dividend history shown should not be taken as an indication of future dividends, which will be subject to a number of factors, including investment performance, surplus revenue, profitable realisations, VCT qualifying levels and the availability of cash and distributable reserves. Revisions to the VCT regulations in 2015 resulted in a change of investment focus toward earlier stage businesses, which typically provide lower levels of investment income and take longer to mature. It is anticipated that future distributions will be more closely linked to the proceeds of realisations and, therefore, will become less predictable in terms of both quantum and timing. More information is provided within the Annual and Interim Reports.
| Total Dividend Paid or Declared | 96.91 | ||
| Year Ended February | Payment Date | Interim/Final | Rate (p) |
| 2020 | 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 | |
| 2016 | 15 July 2016 | Final | 1.20 |
| 27 May 2016 | Interim | 2.40 | |
| 27 November 2015 | Interim | 2.40 | |
| 2001-2015 | 64.70 |
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, Link Asset Services, using the contact details above.
MIG Current Circulars and KIDs
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 enquiries about your shareholding please call the registrar Link Market Services on 0333 300 1566, or email vcts@linkgroup.co.uk. You can also access Link’s share portal here:
Contact Link