Maven Income and Growth VCT PLC

    Maven Income and Growth VCT 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 August 2024

    £65.41m

    Net Asset Value

    40.71p*

    NAV per Ordinary Share

    148.27p

    NAV Total Return per Ordinary Share

    107.56p

    Dividends paid to date per Ordinary Share

    120

    Unlisted and quoted investments

    8.88%**

    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)

    159,169,681 (at 17 October 2024)

    History

    Launched - 1 February 2000.
    Maven Income and Growth VCT PLC was formerly known as Murray VCT 4 and Aberdeen Income and Growth VCT PLC.

    Registered Office

    6th Floor, Saddlers House, 44 Gutter Lane, London, EC2V 6BR
    Company No. 03908220

    Latest/Announced AGM

    11 July 2024

    Next Continuation Vote

    2030

    Live Share Price

    To view Share Price and LSE announcements please click here.

    Data Protection Policy

    View it here.

    Download the Maven VCT investor magazine

    NEW: Issue 28

    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.

    Click here to download

    Newsletter 3D-1

    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.

     

    Total Dividends (per share) Paid or Declared 108.71

    Year Ended February
    Payment Date
    Interim/final
    Rate (p)
    2025

                  29 November 2024                       (to Shareholders on the Register as at 1 November 2024)  

     

    		 Interim
    1.15
    2024

     

    19 July 2024 

     

    		 Final
    1.15
     

     

    1 December 2023

     

    		 Interim
    1.00
    2023

    14 July 2023

    		 Final
    1.15
     

    2 December 2022

    		 Interim
    1.10
    2022
    		 15 July 2022 Final
     1.25
      
    		  3 December 2021 Interim
     1.00
    2021
    		 16 July 2021 Final
    1.00
      20 November 2020 Interim
    1.00
    2020
    		 31 July 2020 Final
    2.00
      22 November 2019 Interim
    2.00
    2019
    		 22 June 2018 Second Interim
    5.10
      13 April 2018 First Interim
    7.45
    2001 - 2018
    		    
    82.36

     

    Portfolio

    Top 10 Investments

    1. Novatus Global Limited

    Provider of transaction reporting technology and advisory solutions to clients in the financial services sector

    Cost £1,000,000 | Valuation £4,684,000
    % of net asset by value 7.1

    2. Bright Network (UK) Limited

    Developer of a media technology platform 

    Cost £1,164,000 | Valuation £2,335,000
    % of net asset by value 3.5

    3. Rockar 2016 Limited (trading as Rockar)

    Developer of a disruptive digital car-buying software proposition

    Cost £948,000 | Valuation £1,608,000
    % of net asset by value 2.4
     

    4. Horizon Ceremonies Limited (trading as Horizon Cremation)

    Developer, operator and owner of purpose built crematoria across the UK 

    Cost £788,000 | Valuation £1,535,000
    % of net asset by value 2.2

    5. HCS Control Systems Group Ltd (trading as HCS)

    Manufacturer of mechanical, hydraulic and electrical systems for the energy industry

    Cost £846,000 | Valuation £1,246,000
    % of net asset by value 1.9

    6. DiffusionData Limited (formerly Push Technology Limited)

    Provider of solutions to improve the speed, security and efficiency of data transfers

    Cost £875,000 | Valuation £1,205,000
    % of net asset by value 1.9

    7. Zinc Digital Business Solutions Limited (trading as Zinc Systems)

    SaaS solutions provider specialising in critical event management

    Cost £801,000 | Valuation £1,201,000
    % of net asset by value 1.8

    8. Summize Limited

    Develops digital contracting software for legal firms, using AI - powered technology 

    Cost £796,000 | Valuation £1,194,000
    % of net asset by value 1.8

    9. NorthRow Limited (formerly Contego Solutions Limited) 

    Provider of automated compliance solutions

    Cost £1,179,000 | Valuation £1,179,000
    % of net asset by value 1.8

    10. CB Technology Group Limited

    Contract electronics manufacture

    Cost £579,000 | Valuation £1,088,000
    % of net asset by value 1.7

    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.

    MIG Current Reports and Accounts

    MIG Current Circulars, KIDS and Fund Factsheets

    MIG Dividend Investment Scheme

    Board of Directors

    John Pocock

    Chairman and Independent Director

    John has extensive experience in the information technology and financial sectors and was formerly a director and chief executive of Druid Group PLC, a FTSE 250 company that was acquired by Xansa PLC in March 2000. He is currently executive chairman of DiffusionData (formerly Push Technology Limited and a current portfolio company) and is a former non-executive director of Electric & General Investment Trust PLC. John is also a director of Synergie Global Limited and Lightsong Media Group Limited.

    Dr Alison Fielding

    Independent Director

    Alison is an experienced entrepreneur and non-executive director, with significant expertise in strategy development and implementation for both large and small organisations, having worked as a strategy consultant at McKinsey & Company and been COO at IP Group PLC.  She is currently a non-executive director and chair of the remuneration committee at Nanoco Group PLC, and is also a non-executive director of Thomas Swan & Co. Limited. 

    Dr Andrew Harrington

    Independent Director

    Andrew is co-owner of AHV Associates LLP, a boutique investment bank formed in 2001, and works alongside management teams and shareholders across many sectors to advise on transactions such as the purchase or sale of companies and capital raising. He was previously founder and chief executive of Nextcall Telecom, a business backed by venture and private investor capital, before which he was managing director at Salomon Brothers, where he advised on investment, initial public offerings, secondary public market offerings and M&A.

    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

    Online Portal

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