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Market Cap: £83.71m
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Statement re NAV, Interim Dividend and DIS

20 Aug 2020 11:38

RNS Number : 7290W
Maven Income & Growth VCT 4 PLC
20 August 2020
 

Maven Income and Growth VCT 4 PLC

 

Net Asset Value (NAV) and Interim Dividend

 

The Directors of Maven Income and Growth VCT 4 PLC (the Company) confirm that the unaudited NAV of the Company as at 30 June 2020 was 64.73p per Ordinary Share.

 

As Shareholders will be aware from recent Annual and Interim Reports, decisions on distributions take into consideration the availability of surplus revenue, the realisation of capital gains, the adequacy of distributable reserves and the VCT qualifying level. These factors are kept under close and regular review by the Board and the Manager, both of whom recognise the importance of tax-free distributions to Shareholders.

 

In light of the recent realisation activity, the Board is pleased to declare that, in respect of the year ending 31 December 2020, an interim dividend of 1.00p per Ordinary Share will be paid on 2 October 2020 to Shareholders on the register at close of business on 4 September 2020. Since the Company's launch, and after receipt of this latest dividend, 78.60p 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)

 

Your 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 AGMs. On 26 March 2020, the Board announced that the DIS had been suspended due to the volatility in financial markets caused by the COVID-19 pandemic, with the payment of the final dividend for the year ended 31 December 2019 on 22 May 2020 being made by either cheque or bank transfer using existing mandate instructions.

 

The Directors have resolved to re-introduce the DIS with immediate effect. This means that, unless they advise the Company otherwise, those Shareholders who had previously elected to participate in the DIS will revert to receiving new shares with effect from 2 October 2020, being the payment date of the declared interim dividend. Shareholders who have not previously applied to participate in the DIS but wish to do so in respect of the interim dividend payable on 2 October 2020, should ensure that a mandate form, or CREST instruction if appropriate, is received by the Registrar, Link Market Services, prior to the dividend election date of 18 September 2020. Shares issued under the DIS should, subject to an individual Shareholder's particular circumstances, qualify for VCT tax reliefs applicable for the tax year in which they are allotted. The terms & conditions of the scheme, together with a mandate form, are available from the Company's website at: www.mavencp.com/migvct4.

 

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 2020 has been or will be notified to a regulatory information service.

 

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

20 August 2020

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 or visit www.rns.com.
 
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Date   Source Headline
2nd Oct 202012:41 pmRNSIssue of Equity
29th Sep 20204:49 pmRNSStatement re Dividend Investment Scheme
1st Sep 20204:35 pmRNSTransaction in Own Shares
28th Aug 20202:38 pmRNSHalf-year Report
26th Aug 20205:26 pmRNSTransaction in Own Shares
20th Aug 202011:38 amRNSStatement re NAV, Interim Dividend and DIS
20th Aug 202011:29 amRNSDirector Declaration
9th Jul 202010:00 amRNSIssue of Equity
8th Jun 20209:36 amRNSAllotment Update
21st May 202012:17 pmRNSResult of AGM
15th May 20204:10 pmRNSNet Asset Value(s)
7th May 20204:35 pmRNSPublication of Suppl.Prospcts
21st Apr 20206:24 pmRNSAnnual Financial Report
8th Apr 20203:56 pmRNSStatement re Offer for Subscription
26th Mar 20205:25 pmRNSUpdate on Net Asset Value
26th Mar 20205:00 pmRNSAllotment Update and Suspension of DIS
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24th Feb 20204:35 pmRNSStatement re Net Asset Value and Proposed Dividend
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18th Dec 20192:09 pmRNSMerger Update: Approval of Scheme
10th Dec 201912:30 pmRNSResult of General Meeting
14th Nov 20196:20 pmRNSStatement re Proposed Merger
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7th Nov 20192:11 pmRNSNet Asset Value(s)
4th Oct 201911:30 amRNSDirector/PDMR Shareholding
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21st Aug 20194:14 pmRNSStatement re share premium account cancellation
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15th May 20192:08 pmRNSResult of AGM
5th Apr 20193:25 pmRNSAnnual Financial Report
12th Mar 20192:52 pmRNSTransaction in Own Shares
28th Feb 20194:03 pmRNSNet Asset Value(s)
4th Dec 20184:42 pmRNSTransaction in Own Shares
27th Nov 20183:15 pmRNSTransaction in Own Shares
22nd Nov 20183:14 pmRNSTransaction in Own Shares
19th Nov 201811:45 amRNSDirector/PDMR Shareholding
19th Nov 201811:43 amRNSDirector/PDMR Shareholding

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