REG - Maven Inc &Grwth VCT - Statement re Unaudited NAV and Interim Dividend

Maven Income and Growth VCTAnnouncement

11/07/2025 15:00

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RNS Number : 7954Q  Maven Income & Growth VCT PLC  11 July 2025

Maven Income and Growth VCT PLC

 

Unaudited Net Asset Value (NAV) and Interim Dividend

 

The Directors confirm:

 

·         Unaudited net asset value (NAV)(1) of 39.22p per Ordinary
Share as at 31 May 2025, compared to 39.37p at 28 February 2025; and

 

·         NAV total return(2) of 147.93p per Ordinary Share as at 31 May
2025, compared to 148.08p at 28 February 2025.

 

The Directors understand the importance of tax free distributions to
Shareholders and, as announced in the 2025 Annual Report, have enhanced the
dividend policy by increasing the target annual yield from 5% to 6% of the NAV
per Ordinary Share at the immediately preceding year end. Shareholders should
be aware that this remains a target and that 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. As the portfolio continues to expand and the proportion of
younger, growth companies increase, the timing of distributions will be more
closely linked to realisation activity, whilst also reflecting the requirement
to maintain the VCT qualifying level.

 

In line with the new policy, and following the realisation of the investment
in Horizon Ceremonies in July 2025, the Board is pleased to declare that an
increased interim dividend of 1.50p per Ordinary Share, in respect of the year
ending 28 February 2026, will be paid on 29 August 2025 to Shareholders who
are on the register at close of business on 25 July 2025. Since the Company's
launch, and after receipt of this interim dividend, 111.46p per Ordinary 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 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, which is due to be paid on 29
August 2025, by completing a DIS mandate that must be received by the
Registrar (The City Partnership) before the next dividend election date, being
8 August 2025. The mandate form, terms & conditions and full details of
the scheme (including tax considerations) are available from the Company's
website at: mavencp.com/migvct (http://mavencp.com/migvct) . Election to
participate in the DIS can also be made through the Registrar's online
investor hub at: maven-cp.cityhub.uk.com/login.

 

Notes:

(1)The NAV at 31 May 2025 is unaudited and reflects the closing bid price of
quoted securities as at that date. Investments in unlisted companies are
normally valued on a six monthly basis and the NAV incorporates the Directors'
valuation of unlisted investments as at 28 February 2025, adjusted for
subsequent events where appropriate. There have been no material changes in
the valuations of any of the unlisted investments during the period from 28
February 2025 to the date of this announcement.

(2)NAV total return is the sum of NAV per Ordinary Share and dividends paid
per Ordinary Share since launch.

 

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

11 July 2025

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