Maven Income and Growth VCT 4

Maven Income and Growth VCT 4 PLC is a generalist VCT aiming to achieve long term capital appreciation and generate maintainable levels of income for shareholders.

NAV Total Return per share

MIG4 NAV Graph Interim Report June 2020

AGM & impact of COVID19

Maven VCT 4 has made recent announcements in connection with the ongoing COVID-19 situation. Those are summarised below, but to see any announcements by the VCT, including NAV updates, AGMs and the Dividend Investment Scheme, visit the VCT’s page on the London Stock Exchange.

2021 AGM

We are aware of an issue on accessing the Link Portal (Signal Shares) for voting at the above event. Link hope to have this resolved shortly to enable online proxy voting but you may also print off, complete and submit a copy of the Proxy Form, which can be found in the Shareholder Documents section below.

2021 AGM Voting and Shareholder Questions

The AGM will be held on Wednesday 12 May 2021 and, in line with Government guidelines on essential travel and social distancing during the current COVID-19 situation, the AGM will be held behind closed doors, with Shareholders unable to attend in person.  Shareholders should instead submit votes by Proxy Form or online, and send questions by email to Maven.

A summary of proxy voting results, questions submitted by Shareholders and Board responses will be made available after the AGM in the Shareholder Documents section on this page.

Maven and VCT Portfolio

Maven and the VCT’s Board will continue to monitor guidance from the government and health authorities. Maven has tested business continuity plans across all its offices to ensure the resilience of key processes and IT systems and, in line with government guidelines, has moved to a programme of home working to adhere to social distancing guidance.  Maven’s nationwide investment and portfolio team will maintain an active focus on value preservation and intensively managing the existing VCT portfolios, and is already working closely with each portfolio company to assess trading impact and the ongoing cash flow position. Maven appointed executives are supporting each investee management team in formulating and implementing any measures required to protect the health of employees, and assisting them to plan and take appropriate action to mitigate the impact that the Coronavirus pandemic is having on their businesses.

In what is a time of great uncertainty, if you have further questions regarding the impact of COVID-19 and Maven’s response, please call 0141 306 7400 or email, and the Manager will ensure that your enquiry is directed to the appropriate person.

Shareholder enquiries & Registrar

For Shareholding enquiries you should contact the Registrar, Link Market Services. However, during this challenging period, there is extra pressure on telephone services, including the Link helpline.

COVID-19 Measures

Therefore, to enable Link to help those shareholders who need it the most, please make use of Link’s online Share Portal wherever possible. The Share Portal contains a useful help option, with answers to frequently asked questions, and the ability to securely access and view specific information on your shareholding including updating address details, changing the way Link communicates with you and the option to specify how you wish to receive dividends.

Using the Share Portal

To visit the Share Portal for information click here where you will see the help centre (there is no need to login to access the Help information). If you want to access your shareholding you will need to follow the Getting Started instructions to login or register an account – this also allows you to reset your username and/or password if you have forgotten them. If you are a new user needing to register for the portal, you only need three pieces of information – your surname, postcode and investor code (the unique number that you will have received on previous communications from Link, such as share certificates or dividend tax confirmations).

Other ways to contact Link

If you are unable to use the Share portal, it is still possible to contact Link by email, in writing or by phone, but it may take a little longer than usual to get through or receive a response:

  • By email: on
  • In writing (including for any instructions to amend the share register): to Link Market Services, The Registry, 34 Beckenham Road, Beckenham, BR3 4TU.
  • By telephone on the non-premium rate 0333 300 1566 VCT shareholder helpline Link operates on behalf of the Maven VCTs (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 may take a little longer to respond than normal.
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).

Recommendation 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.


Latest paid/declared
- 21 May 2021

See below for dividend history.

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 Shareholder Documents below.

NAV Total Return Performance

NAV (at 31 December 2020)*
NAV Total Return 2005**
NAV Total Return 2020 
Increase in Total Return

*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† 

†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)
111,523,142 (at 24 February 2021)
Latest/Announced AGM
12 May 2021
Next Continuation Vote
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 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.

Investment Portfolio (as at 30 June 2020)

Valuation by transaction type - June 2020
Mig 4 2020 val trans type june 2020 web 01 graph
Valuation by transaction type - June 2019
Mig 4 2020 val trans type june 2019 web 01 graph
Top 10 Investments

Top Ten Investments*



Total Unlisted and Quoted Investments



Total Number of Unlisted and Quoted Investments


Net Asset Value


Cost £'000 Valuation £'000
Horizon Cremation
Develops, operates and owns purpose built crematoria across the UK
2,463 2,463
BioAscent Discovery
Provision of integrated drug discovery and compound management services
1,532 1,776
Whiterock Group
Technology business trading under the brand ZynQ360 providing Visual Asset Management services
1,014 1,753
Vodat Communications Group 
Provider of managed IT network and communications solutions to business customers
1,240 1,717
CatTech International 
Industrial services business focusing on specialist catalyst handling at oil refineries and petro-chemical plants
1,115 1,642
The GP Service (UK)
Provider of online services for general medical consultations and prescriptions
1,597 1,622
Maven Co-invest Endeavour Limited Partnership (invested in Global Risk Partners)
Investment vehicle undertaking a buy and build in the specialty insurance sector
909 1,563
Glacier Energy Services Holdings
Provides engineered solutions to the energy sector, working for both operators and service companies worldwide
1,540 1,540
Rockar 2016 Limited (trading as Rockar)
Innovative Car Retailer
1,374 1,442

CB Technology Group Limited
Manufactures and tests high end printed circuit boards for deployment in hostile environments

1,097 1,405

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 Dividends Paid or Declared 80.60
Year Ended December Payment Date Interim/Final Rate (p)
2020 21 May 2021 Proposed final 2.00
2 October 2020 Interim 1.00
2019 22 May 2020 Final 2.00
4 October 2019 Interim 2.00
2018 22 June 2018 Second Interim 4.80
13 April 2018 First Interim 8.90
2017 30 November 2017 Third Interim 5.39
15 September 2017 Second Interim 3.70
14 July 2017 Interim 3.36
2016 26 May 2017 Final 3.05
30 September 2016 Interim 2.20
2006-2015 42.20

Shareholder Documents

MIG4 Current Reports and Accounts

MIG4 Dividend Investment Scheme

For enquiries about your shareholding please call the registrar Link Asset Services on 0333 300 1566, or email You can also access Link’s share portal here:
Contact Link