Maven Income and Growth VCT 3 PLC

    Maven Income and Growth VCT 3 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.

    Financial highlights

    As at 30 November 2022

    £59.94m

    Net Asset Value

    57.32p*

    NAV per Ordinary Share

    152.49p

    NAV Total Return per Ordinary Share

    95.17p

    Dividends paid to date per Ordinary Share

    97

    Unlisted and quoted investments

    12.89%**

    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 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).

    Current VCT Offers

    For the first time in eight years, investors have the opportunity to subscribe for New Shares in all four Maven Income and Growth VCTs, each with a long term track record of delivering positive shareholder returns.

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    Key information

    Ordinary Shares in Issue

    (total voting rights)
    110,959,027 (at 8 February 2023)

    History

    Launched - September 2001. Maven Income and Growth VCT 3 PLC was formerly known as Aberdeen Growth Opportunities VCT PLC.

    Registered Office

    Fifth Floor, 1-2 Royal Exchange Buildings, London, EC3V 3LF
    04283350

    Latest/Announced AGM

    6 April 2022 (London)

    Next Continuation Vote

    2028

    Live Share Price

    To view Share Price and LSE announcements please click here.

    Data Protection Policy 

    View it here.

    Performance

    NAV Total Return per share

     

    Dividends

     

    Total Dividends Paid or Declared 97.07

     

    Year Ended November
    Payment Date
    Interim/Final
    Rate (p)
    2022
    		 26 April 2023 Final
    1.90
     
    		 26 August 2022 Interim
    1.25
    2021
    		 26 April 2022 Final
    1.50
     
    		 11 March 2022 Second interim
     2.00
      10 September 2021 First interim
    1.25
    2020
    		 16 April 2021 Final
    1.00
      28 August 2020 Interim
    2.00
    2019
    		 17 April 2020 Final
    2.00
      30 August 2019 Interim
    2.00
    2018
    		 22 June 2018 Second Interim
    5.25
      13 April 2018 First Interim
    5.70
    2003 - 2017
    		    
    71.22

     

    Dividend Investment Scheme

    Maven Income and Growth VCT 3 PLC operates a dividend investment scheme (DIS). Terms and Conditions (and features of the scheme), and a mandate form for participating in the DIS, are available to download in the Shareholder Documents section below.

    Portfolio

    Top 10 Investments

    1. Horizon Ceremonies Limited (trading as Horizon Cremation)

    Develops, operates and owns purpose built crematoria across the UK

    Cost £1,288,000 | Valuation £1,932,000
    % of net asset by value 3.4

    2. Bright Network (UK) Limited 

    Online recruitment platform

    Cost £1,015,000 | Valuation £1,787,000
    % of net asset by value 3.2

    3. Relative Insight Limited

    Linguistic analysis software platform

    Cost £700,000 | Valuation £1,505,000
    % of net asset by value 2.6

    4. e.fundamentals (Group) Limited

    e-commerce analytics software service that provides a platform for tactical and strategic daily use by the internal sales and marketing teams of consumer goods producers

    Cost £642,000 | Valuation £1,426,000
    % of net asset by value 2.4

    5. Rockar 2016 Limited (trading as Rockar)

    Innovative car retailer

    Cost £928,000 | Valuation £1,368,000
    % of net asset by value 2.3

    6. Martel Instruments Holdings Limited

    Manufacturer of compact, handheld printers and display devices

    Cost £671,000 | Valuation £1,278,000
    % of net asset by value 2.2

    7. Delio Limited

    Designs and builds digital private asset infrastructure for global financial institutions

    Cost £533,000 | Valuation £1,246,000
    % of net asset by value 2.1

    8. Ensco 969 Limited (trading as DPP)

    Planned and reactive mechanical and electrical maintenance

    Cost £1,133,000 | Valuation £1,236,000
    % of net asset by value 2.1

    9. Nano Interactive Group Limited

    Marketing technology provider

    Cost £625,000 | Valuation £1,126,000
    % of net asset by value 1.9

    10. Vodat Communications Group (VCG) (formerly 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 1.8

    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.

    MIG3 Current Reports and Accounts

    MIG 3 Annual Report 2021
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    MIG 3 Interim Report 2022
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    See all Historical Reports and Accounts
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    MIG3 Current Circulars and KIDs

    MIG3 Dividend Investment Scheme

    VCT Board of Directors

    Atul Devani

    Chairman and Independent Non-executive Director

    Atul has held a number of senior positions in software technology companies operating in various sectors including finance, mobile, telecoms, food & drink, health and pharmaceuticals. He was founder and chief executive officer of AIM listed United Clearing Plc, which was sold to BSG in 2006. He is currently a director of, and an investor in, a number of private limited companies, including the GP Service (UK) Limited, and is also mentor of entrepreneurs at the Company of Information Technologists in the City of London. Atul has a First Class Honours Degree in Electronic Engineering from the University College of North Wales. He is also a non-executive director of Thames Ventures VCT 1 plc.

    David Allan

    Independent Non-executive Director

    David is a legally qualified corporate finance practitioner with significant experience in equity investment, M&A, VCTs and AIM. He is currently an executive director of Aridhia Informatics Limited, a private equity backed technology company. He is also a partner of Davidson Chalmers Stewart LLP, a commercial law firm based in Glasgow. Prior to this, David was a partner with Biggart Baillie LLP and Brodies LLP.

    Bill Nixon

    Non-executive Director

    Bill is managing partner of Maven Capital Partners UK LLP (Maven) and has 40 years’ experience in banking and private equity. He is a Fellow of the Chartered Institute of Bankers in Scotland and obtained an MBA from Strathclyde University in 1996. In the 1990s, Bill was head of the private equity business at Clydesdale Bank plc, a subsidiary of National Australia Bank, before joining Aberdeen Asset Management plc (Aberdeen) in 1999. In 2004 he was appointed as principal fund manager to all Aberdeen managed VCTs. In 2009, Bill and his senior colleagues led a management buy-out from Aberdeen to form Maven. He is also a director of Maven Income and Growth VCT 4.

    Keith Pickering

    Independent Non-executive Director

    Keith is a Fellow of the Institute of Chartered Accountants of England and Wales. He is a partner at Alantra Corporate Finance, formerly Catalyst Corporate Finance, which he founded in 1998 along with two others and where he leads the industrials sector team in the UK. Over twenty years he played a major role in the growth of Catalyst and in September 2017 the business was sold to Alantra Group, the Spanish listed mid-market investment bank. Prior to establishing Catalyst, Keith spent thirteen years at the successor firms of PwC and Deloitte, including a three year period in the Far East, operating out of Hong Kong.

    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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