Statement re Dividend Investment Scheme

RNS Number : 9254W

Maven Income and Growth VCT 5 PLC

24 August 2015

 

Maven Income and Growth VCT 5 PLC (the Company)

Suspension of Dividend Investment Scheme (DIS)

The Board has announced previously that, in light of the investment restrictions proposed in the Government's Summer 2015 Budget, the Directors intended to review the operation of the Company's DIS and reserved the right, under the Terms and Conditions of the Scheme, to suspend or terminate its operation without prior notice and revert to making monetary payments to all Participants. The Board has now resolved that the DIS will be suspended with immediate effect in order to allow the Directors and the Manager to review the final changes to the VCT legislation and to consider the full potential impact of these on the Company's future investment strategy.

As a result, the interim dividend payable on 28 August 2015, and all subsequent dividends until further notice, will be paid to Shareholders by either cheque or direct bank transfer using existing mandate instructions. Written confirmation of this suspension in the operation of the DIS will be issued to those Shareholders who have elected to participate.

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

24 August 2015

 

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