Maven Income & Growth VCT 4 PLC Statement re NAV, Interim Dividend and DIS (7290W)
August 20 2020 - 6:38AM
UK Regulatory
TIDMMAV4 TIDMTTM
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
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END
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