Maven Income and Growth VCT 4 PLC
Maven Income and Growth VCT 4 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.
The Maven VCT 3 and VCT 4 Offers are still open until 27 May for 2022/2023 applications.
As at 31 March 2022
Net Asset Value
NAV per Ordinary Share
NAV Total Return per Ordinary Share
Dividends paid to date per Ordinary Share
Unlisted and quoted investments
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).
Ordinary Shares in Issue
(total voting rights)
128,947,251 at 20 May 2022
Launched - 26 August 2004.
Maven Income and Growth VCT 4 PLC was formerly known as Aberdeen Growth Opportunities VCT 2 PLC and incorporates Maven Income and Growth VCT 6 PLC (formerly known as Talisman First VCT PLC), Maven Income and Growth VCT 2 PLC (formerly known as Aberdeen Growth VCT I PLC), Ortus VCT PLC (formerly known as Guinness Flight Venture Capital Trust PLC) and Gateway VCT PLC.
Kintyre House, 205 West George Street, Glasgow, G2 2LW
11 May 2022
Next Continuation Vote
Live Share Price & Historic Announcements
NAV Total Return per share
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. It is the Board’s intention that, subject to the considerations outlined above, in the current and future years it will seek to pay an annual dividend that provides Shareholders with a yield of 5% of the NAV per share at the previous year end.
Total Dividends Paid or Declared 85.60
Year Ended November
|20 May 2022||Final||
|11 March 2022||Second interim||
||1 October 2021||First interim||
|21 May 2021||Final||
|2 October 2020||Interim||
|22 May 2020||Final||
|4 October 2019||Interim||
|22 June 2018||Second Interim||
|13 April 2018||First Interim||
|30 November 2017||Third Interim||
|15 September 2017||Second Interim||
|14 July 2017||Interim||
2006 - 2016
Dividend Investment Scheme
Maven Income and Growth VCT 4 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.
Top 10 Investments
1. Horizon Ceremonies Limited
Develops, operates and owns purpose built crematoria across the UK
Cost £2,463,000 | Valuation £3,694,000
% of net asset by value 4.5
2. BioAscent Discovery
Provision of integrated drug discovery services including compound management
Cost £1,532,000 | Valuation £3,200,000
% of net asset by value 3.9
3. 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 £967,000 | Valuation £2,602,000
% of net asset by value 3.3
4. Relative Insight Limited
Linguistic analysis software platform
Cost £1,000,000 | Valuation £2,150,000
% of net asset by value 2.6
5. Delio Limited
Designs and builds digital private asset infrastructure for global financial institutions
Cost £958,000 | Valuation £2,033,000
% of net asset by value 2.5
6. Ensco 969 Limited (trading as DPP)
Planned and reactive mechanical and electrical maintenance
Cost £1,823,000 | Valuation £1,889,000
% of net asset by value 2.3
7. Whiterock Group Limited
Technology business trading under the brand ZynQ360 providing Visual Asset Management services
Cost £1,014,000 | Valuation £1,753,000
% of net asset by value 2.1
8. Rockar 2016 Limited (trading as Rockar)
Innovative Car Retailer
Cost £1,674,000 | Valuation £1,741,000
% of net asset by value 2.1
9. Vodat Communications Group (VCG) Holding Limited
Provider of managed IT network and communications solutions to business customers
Cost £1,240,000 | Valuation £1,717,000
% of net asset by value 2.1
10. QikServe Limited
Software platform for the hospitality sector
Cost £1,674,000 | Valuation £1,674,000
% of net asset by value 2.0
MIG4 Current Circulars and KIDs
Board of Directors
Chairman and Independent Non-executive Director
Peter was formerly a director of Maven Income and Growth VCT 2 PLC and oversees the portfolio of private equity fund investments of The Royal London Mutual Insurance Society Limited. He has over 25 years of private equity experience and was chief executive of the British Private Equity and Venture Capital Association (BVCA) from 2005 to 2007.
Independent Non-executive Director
Fraser was a director of Maven Income and Growth VCT 6 PLC from 1 July 2016 until the completion of its merger with the Company. He sits on a number of advisory boards, supporting smaller companies on growth and strategic matters. He was previously a managing director in AlixPartners’ turnaround and restructuring practice, where he led the provision of restructuring and liquidity improvement solutions to clients across a wide variety of industry sectors. Fraser is a chartered accountant and accredited mediator, and was formerly a licensed insolvency practitioner. He is a non-executive director on the boards of Denholm Oilfield Services Limited and Richard Irvin FM Limited.
Independent Non-executive Director
Steven is a qualified chartered accountant. He worked in the Bank of Scotland Structured Finance Group before becoming a director of Royal Bank Development Capital, the private equity division of The Royal Bank of Scotland plc. In 1999, he founded Penta Capital LLP, an independent UK private equity manager that specialises in buy & build investments in the UK and has over £300 million under management.
Bill is the managing partner of Maven Capital Partners UK LLP (Maven) and has over 40 years of 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 1990’s, 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 3 PLC.
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.
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.
The City Partnership
The Mending Rooms
Park Valley Mills
Huddersfield, HD4 7BH
Accessing your Shareholding information online
Alternatively, 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.