Maven Income & Growth VCT 4 PLC Statement re NAV and Interim Dividend (6868J)
18 August 2023 - 12:26AM
UK Regulatory
TIDMMAV4 TIDMTTM
RNS Number : 6868J
Maven Income & Growth VCT 4 PLC
17 August 2023
Maven Income and Growth VCT 4 PLC (the Company)
Net Asset Value and Interim Dividend
The Directors confirm that the unaudited net asset value of the
Company as at 30 June 2023 was 64.92p per Ordinary Share, and that
it reflects the payment on 23 May 2023 of a final dividend of 1.75p
per Ordinary Share, in respect of the year ended 31 December
2022.
As Shareholders will be aware from recent Annual and Interim
Reports, the decisions on distributions take into consideration a
number of factors, including the realisation of capital gains, the
adequacy of distributable reserves, the availability of surplus
revenue and the VCT qualifying level, all of which are kept under
close and regular review. The Board and the Manager recognise the
importance of tax-free distributions to Shareholders and, subject
to the conditions set out above, will seek, as a guide, to pay an
annual dividend that represents 5% of the NAV per share at the
immediately preceding year end.
The Board is, therefore, pleased to declare that an interim
dividend in respect of the year ending 31 December 2023, of 1.75p
per Ordinary Share, will be paid on 13 October 2023 to Shareholders
on the register at close of business on 15 September 2023. Since
the Company's launch, and after receipt of this latest dividend, a
total of 91.10p per share will have been distributed in tax-free
dividends. It should be noted that the effect of paying dividends
is to reduce the NAV of the Company by the total cost of the
distribution.
Dividend Investment Scheme (DIS)
The Company has in place a DIS, through which Shareholders may
elect to have their dividend payments used to apply for new
Ordinary Shares issued by the Company under the standing authority
granted by Shareholders at Annual General Meetings. 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 particular circumstances.
Shareholders can elect to participate in the DIS in respect of
future dividends, including the interim dividend due to be paid on
13 October 2023, by completing a DIS mandate. For the above interim
dividend, the mandate form must be received by the Registrar (The
City Partnership) before 29 September 2023, this being the next
dividend election date. The mandate form, terms & conditions
and full details of the scheme (including tax considerations) are
available from the Company's website at: mavencp.com/migvct4 .
Election to participate in the DIS can also be made through the
Registrar's online investor hub at:
maven-cp.cityhub.uk.com/login.
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
30 June 2023 has been or will be notified to a regulatory
information service.
Issued on behalf of the Board
Maven Capital Partners UK LLP
Secretary
17 August 2023
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END
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