Maven Income and Growth VCT 5 PLC Unaudited NAV and Proposed Final Dividend (6349O)
01 Febrero 2023 - 9:25AM
UK Regulatory
TIDMMIG5
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
T he 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
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
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END
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February 01, 2023 10:25 ET (15:25 GMT)
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