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.

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Financial highlights

As at 31 March 2024


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).

Key information

Ordinary Shares in Issue

(total voting rights)
142,927,695 (at 15 May 2024)


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.

Registered Office

Kintyre House, 205 West George Street, Glasgow, G2 2LW
Company No. SC272568


Latest/Announced AGM

9 May 2024 (London)

Next Continuation Vote


Live Share Price

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Data Protection Policy

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Download the Maven VCT investor magazine

NEW: Issue 27

We are delighted to share the latest edition of Maven's VCT investor magazine, Creating Value. It features new investments by the Maven VCTs, as well as news and insights from across the portfolio.

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Front page graphic v2


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 (per share) Paid or Declared



Year Ended November
Payment Date
Rate (p)

24 May 2024

(payable to shareholders on the register on 19 April 2024)


13 October 2023


23 May 2023

7 October 2022 Interim
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
2006 - 2017


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

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.

MIG4 Dividend Investment Scheme

Board of Directors

Fraser Gray

Chairman and 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 of Denholm Energy Services Limited and was, until 17 February 2023 when the company was sold, chairman of  Richard Irvin FM Limited.

Brian Colquhoun

Independent Non-executive Director

Brian is a Fellow of the Chartered Institute of Bankers in Scotland and spent more than three decades at Clydesdale and Yorkshire Bank in the UK, working extensively with smaller companies and management teams in supporting their growth ambitions. He held a number of senior roles and has extensive experience of corporate lending, credit and relationship management in the SME market. His most recent role was as UK Head of Commercial Banking, where he held national responsibility for customer growth and satisfaction. Brian is also a non-executive director of Coventry and Warwickshire Growth Hub Limited.

Bill Nixon

Non-executive Director

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.

Steven Scott

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.

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.


The City Partnership
The Mending Rooms
Park Valley Mills
Meltham Road
Huddersfield, HD4 7BH

Online portal

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.

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