REG - Maven Inc&Grwth 5 - Unaudited NAV and Proposed Final Dividend

Maven Income and Growth VCT 5Announcement

01/02/2023 15:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230201:nRSA6349Oa&default-theme=true

RNS Number : 6349O  Maven Income and Growth VCT 5 PLC  01 February 2023

 

Maven Income and Growth VCT 5 PLC

 

Unaudited Net Asset Value and Proposed Final Dividend

 

The Directors of Maven Income and Growth VCT 5 PLC (the Company) confirm that
the unaudited net asset value of the Company as at 30 November 2022 was 35.40p
per Ordinary Share.

 

The Directors propose that a final dividend of 0.50p per Ordinary Share in
respect of the year ended 30 November 2022, be paid on 5 May 2023 to
Shareholders on the register at close of business on 31 March 2023.

 

As Shareholders will be aware from recent Annual and Interim Reports,
decisions on distributions take into consideration a number of factors,
including the availability of surplus revenue, the realisation of capital
gains, the adequacy of distributable reserves and the VCT qualifying level.
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. This final dividend will bring total
distributions for the financial year to 3.50p per Ordinary Share, representing
an annual yield of 8.98%.

 

Since the Company's launch, and after receipt of this final dividend, 50.15p
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

The Company has in place a Dividend Investment Scheme (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 requested
from Shareholders at Annual General Meetings. Shares issued under the DIS
should qualify for VCT tax reliefs applicable for the tax year in which they
are allotted, subject to an individual Shareholder's particular circumstances.
Terms & conditions of the scheme, together with a mandate form, are
available from the Company's website at: mavencp.com/migvct5
(http://mavencp.com/migvct5)

Shareholders who have not previously applied to participate in the DIS and who
wish to do so in respect of the final dividend payable on 5 May 2023, should
ensure that a mandate form is received by the Company's Registrars, The City
Partnership (UK) Limited, prior to the dividend election date of 19 April
2023.  Election to participate in the DIS can also be made through the
Registrars' online investor hub at: maven-cp.cityhub.uk.com.

 

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 annual results for the year ended
30 November 2022 has been or will be notified to a regulatory information
service.

 

 

 

Issued on behalf of the Board

Maven Capital Partners UK LLP

Company Secretary

 

1 February 2023

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  MSCUPUAPPUPWGAG