Maven Income and Growth VCT 3 PLC

    Maven Income and Growth VCT 3 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

    £64.65m

    Net Asset Value

    53.01p*

    NAV per Ordinary Share

    152.73p

    NAV Total Return per Ordinary Share

    99.72p

    Dividends paid to date per Ordinary Share

    114

    Unlisted and quoted investments

    9.75%**

    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 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)
    121,129,618 (at 25 October 2024)

    History

    Launched - September 2001. Maven Income and Growth VCT 3 PLC was formerly known as Aberdeen Growth Opportunities VCT PLC.

    Registered Office

    6th Floor, Saddlers House, 44 Gutter Lane, London, EC2V 6BR
    Company No. 04283350

    Latest/Announced AGM

    2 May 2024 (London)

    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

     

    Total Dividends (per share) Paid or Declared 100.72p

     

    Year Ended November
    Payment Date
    Interim/Final
    Rate (p)
    2024

    6 September 2024

    		 Interim
    1.00
    2023

    3 May 2024

    		 Final
    2.15
     

    25 August 2023

    		 Interim
    0.50
    2022
    		 26 April 2023 Final
    1.90
     
    		 26 August 2022 Interim
    1.25
    2021
    		 26 April 2022 Final
    1.50
     
    		 11 March 2022 Second interim
     2.00
      10 September 2021 First interim
    1.25
    2020
    		 16 April 2021 Final
    1.00
      28 August 2020 Interim
    2.00
    2019
    		 17 April 2020 Final
    2.00
      30 August 2019 Interim
    2.00
    2003 - 2018
    		    
    82.17

     

    Dividend Investment Scheme

    Maven Income and Growth VCT 3 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

    1. Horizon Ceremonies Limited (trading as Horizon Cremation)

    Develops, operates and owns purpose built crematoria across the UK

    Cost £1,288,000 | Valuation £2,798,000
    % of net asset by value 4.3

    2. Bright Network (UK) Limited 

    Online recruitment platform

    Cost £1,139,000 | Valuation £2,338,000
    % of net asset by value 3.7

    3. MirrorWeb Limited

    Developer of digital archiving solutions

    Cost £690,000 | Valuation £1,778,000
    % of net asset by value 2.8
     

    4. Rockar 2016 Limited (trading as Rockar)

    Innovative car retailer

    Cost £971,000 | Valuation £1,630,000
    % of net asset by value 2.6

    5. Ensco 969 Limited (trading as DPP)

    Planned and reactive mechanical and electrical maintenance

    Cost £957,000 | Valuation £1,211,000
    % of net asset by value 1.9

    6. NorthRow Limited 

    RegTech company that provides complex, multi-source compliance and fraud detection checks

    Cost £1,115,000 | Valuation £1,115,000
    % of net asset by value 1.8

    7. HCS Control Systems Group Limited

    Specialises in the design, manufacture, assembly and test of subsea control systems. 

    Cost £746,000 | Valuation £1,099,000
    % of net asset by value 1.7

    8. CB Technology Group Limited

    Contract electronics manufacturer

    Cost £558,000 | Valuation £1,045,000
    % of net asset by value 1.7

    9. Project Falcon Topco Limited (trading as Quorum Cyber)

    Cyber security specialist

    Cost £335,000 | Valuation £1,005,000
    % of net asset by value 1.6

    10. Bud Systems Limited

    Learning management system software provider. 

    Cost £762,000 | Valuation £953,000
    % of net asset by value 1.5

    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.

    MIG3 Current Reports and Accounts

    MIG3 Current Circulars, KIDs and Fund Factsheets

    MIG3 Dividend Investment Scheme

    VCT Board of Directors

    Keith Pickering

    Chairman and Independent Non-executive Director

    Keith is a Fellow of the Institute of Chartered Accountants of England and Wales. He is a partner at Alantra Corporate Finance, formerly Catalyst Corporate Finance, which he founded in 1998 along with two others and where he leads the industrials sector team in the UK. Over twenty years he played a major role in the growth of Catalyst and in September 2017 the business was sold to Alantra Group, the Spanish listed mid-market investment bank. Prior to establishing Catalyst, Keith spent thirteen years at the successor firms of PwC and Deloitte, including a three year period in the Far East, operating out of Hong Kong.

    David Allan

    Independent Non-executive Director

    David is a legally qualified corporate finance practitioner with significant experience in equity investment, M&A, VCTs and AIM. He is currently an executive director of Aridhia Informatics Limited, a private equity backed technology company. Prior to this, David was a partner with Biggart Baillie LLP, Brodies LLP and Davidson Chalmers Stewart LLP.

    Bill Nixon

    Non-executive Director

    Bill is 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 1990s, 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 4.

    David Priseman

    Independent Non-executive Director

    David has over thirty five years’ experience working for major banks, a care home group, a specialist transport consultancy, private equity houses and advising entrepreneurs. He has served on, led and advised boards ranging from start up to £120 million turnover in the care, aviation, software and agriculture sectors. David is currently a non-executive director of Astuta Limited, a buy and build software business specialising in regulatory technology. He also provides finance, strategy and related advisory services to a portfolio of SME clients. David has an MBA, a Diploma in Marketing from the Chartered Institute of Marketing, a Master’s Degree in Transport Economics and a Bachelor’s Degree in Business Studies and Economics.

    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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