Maven
Income and Growth VCT PLC
Unaudited Net Asset Value (NAV) and Interim
Dividend
The Directors of Maven Income and
Growth VCT PLC (the Company) confirm that the unaudited NAV of the
Company as at 31 August 2024 was 40.71p per Ordinary
Share.
As Shareholders will be aware from
recent Annual and Interim Reports, 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. These factors are kept under
close and regular review by the Board and the Manager, both of whom
recognise the importance of tax-free distributions to
Shareholders.
In light of the recent realisation
activity, the Board is pleased to declare that, in respect of the
year ending 28 February 2025, an interim dividend of 1.15p per
Ordinary Share will be paid on 29 November 2024 to Shareholders on
the register at close of business on 1 November 2024. Since the
Company's launch, and after receipt of this interim
dividend, 108.71p per
share will have been distributed in tax-free dividends. It should
be noted that the effect of paying a dividend is to reduce the NAV
of the Company by the total cost of the distribution.
Dividend Investment Scheme (DIS)
Your Company operates a DIS, through
which Shareholders may elect to have their dividend payments
utilised to subscribe for new Ordinary Shares issued by the Company
under the standing authority requested from Shareholders at Annual
General Meetings.
Shareholders can elect to participate
in the DIS in respect of future dividends, including the interim
dividend due to be paid on 29 November
2024, by completing a DIS mandate, which
must be received by the Registrar, The City Partnership, in advance
of 15 November 2024, this being the next dividend election date.
The mandate form, terms & conditions and full details of the
scheme and tax considerations are available from the Company's
website at mavencp.com/migvct.
Election to participate in the DIS can also be made through the
Registrar's share portal at maven-cp.cityhub.uk.com.
Shares issued under the DIS should qualify for VCT tax relief
applicable for the tax year in which they are allotted, subject to
an individual Shareholder's circumstances. If a Shareholder is in
any doubt about the merits of participating in the DIS, or their
own tax status, they should seek advice from a suitably qualified
adviser.
Further to the information disclosed
above, the Directors confirm that they are satisfied that all
inside information (as defined by Article 7 of the Market Abuse
Regulation (596/2014/EU)) that the Directors and the Company may
have in their possession relating to the Company during the 30 day
closed period leading up to the announcement of its interim results
for the six months ended 31 August
2024 has been, or will be, notified to a regulatory
information service.
Issued on behalf of the
Board
Maven
Capital Partners UK LLP
Secretary
14
October 2024