REG - Maven IncGwth VCT 3 - Statement re NAV and Interim Dividend

Maven Income and Growth VCT 3Announcement

08/07/2024 16:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240708:nRSH5634Va&default-theme=true

RNS Number : 5634V  Maven Income and Growth VCT 3 PLC  08 July 2024

Maven Income and Growth VCT 3 PLC

 

Unaudited Net Asset Value (NAV) and Interim Dividend

 

The Directors of Maven Income and Growth VCT 3 PLC (the Company) confirm that
the unaudited NAV of the Company as at 31 May 2024 was 51.44p per Ordinary
Share and that it reflects the payment, on 3 May 2024, of the final dividend
of 2.15p per Ordinary Share in respect of the year ended 30 November 2023.

 

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 preceding year
end. 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.

 

The Board is pleased to declare that an interim dividend in respect of the
year ending 30 November 2024, of 1.00p per Ordinary Share, will be paid on 6
September 2024 to Shareholders on the register at close of business on 9
August 2024. Since the Company's launch, and after receipt of this interim
dividend, 100.72p per Ordinary Share will have been distributed in tax-free
dividends.

 

Dividend Investment Scheme (DIS)

The Company has in place a DIS, through which Shareholders may elect to have
their dividend payments used to subscribe 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 6 September 2024,
by completing a DIS mandate, which must be received by the Registrar (The City
Partnership) before 23 August 2024, 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/migvct3 (http://mavencp.com/migvct3) . Election to participate in
the DIS can also be made through the Registrar's online investor hub at:
maven-cp.cityhub.uk.com/login (http://www.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 31 May 2024 has been or will be notified to a regulatory
information service.

 

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

8 July 2024

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  STRBUGDRLGGDGSI