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.

Current Offer

Maven shareholders and new investors have the opportunity to invest in joint Offers from two established Maven VCTs. The Offers provide immediate access to an existing portfolio of private and AIM quoted companies, whilst allowing investors to benefit from generous tax incentives. Early investment incentives are currently available.

Find out more

Financial highlights

As at 30 September 2021

£82.79m

Net Asset Value

75.31p*

NAV per Ordinary Share

155.91p

NAV Total Return per Ordinary Share

80.60p

Dividends paid to date per Ordinary Share

118

Unlisted and quoted investments

14.57%**

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 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 information

Ordinary Shares in Issue

(total voting rights)
110,216,724 at 01 October 2021

History

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
SC272568

 

Latest/Announced AGM

12 May 2021

Next Continuation Vote

2027

Live Share Price & Historic Announcements

To view Share Price and LSE announcements please click here.

Performance

NAV Total Return per share

Dividends

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 82.60

 

Year Ended November
Payment Date
Interim/Final
Rate (p)
2021
1 October 2021 Interim
2.00
2020
21 May 2021 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
2006 - 2016
   
47.45

 

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.

Portfolio

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, Link Market Services, using the contact details above.

MIG4 Current Reports and Accounts

MIG 4 Interim Report 2021
arrow
MIG 4 Annual Report 2020
arrow
See all Historical Reports and Accounts
Click here
arrow

MIG4 Current Circulars and KIDs

Independent Accountant's Report (in respect of the merger of Maven VCT 4 with Maven VCT 6)
arrow
2021 AGM Shareholder questions & responses
arrow
2021 AGM voting and results
arrow
2021 AGM Proxy Form
arrow
MIG 4 KID (secondary market)
arrow
MIG 4 KID (primary market)
arrow
See all Historical Circulars and KIDs
Click here
arrow

MIG4 Dividend Investment Scheme

MIG4 Key Features/T&Cs
arrow
MIG4 Mandate Form
arrow

Board of Directors

Peter Linthwaite

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.

Malcolm Graham-Wood

Independent Non-executive Director

Malcolm began his career with Wood Mackenzie in 1979 as a financial analyst and then spent twelve years at James Capel, after which he became head of equities at Williams de Broe. He is a founding partner of HydroCarbon Capital, which provides independent advisory services to the oil & gas sector.

Fraser Gray

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 was formerly a licensed insolvency practitioner and accredited mediator. He is a non-executive director on the boards of Denholm Oilfield Services Limited and Richard Irvin FM Limited.

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.

Bill Nixon

Non-executive Director

Bill is the 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 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 and was formerly a director of Maven Income and Growth VCT 2 PLC and Maven Income and Growth VCT 6 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.

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

Subscribe for email updates

close