Statement re NAV and Interim Dividend

RNS Number : 9493T

Maven Income and Growth VCT 5 PLC

23 July 2015

 



Maven Income and Growth VCT 5 PLC

Net Asset Value and Interim 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 31 May 2015 was 41.67p per Ordinary Share, prior to the payment, on 5 June 2015, of the final dividend of 1.7p per share in respect of the year ended 30 November 2014.

The Directors declare that an interim dividend of 0.9p per Ordinary Share, in respect of the six months ended 31 May 2015 (2014: 0.8p), will be paid on 28 August 2015 to Shareholders on the register at close of business on 31July 2015. 

The Company operates a Dividend Investment Scheme (DIS) through which Shareholders may elect to have their dividend payments used to subscribe for additional Ordinary Shares issued by the Company under the standing authority requested from Shareholders at Annual General Meetings. Subject to a Shareholder's individual circumstances and related investment limits, new shares issued under the DIS will qualify for the VCT tax reliefs applicable for the tax year in which they are allotted.

Shareholders wishing to take advantage of the DIS for the interim dividend in respect of the six months ended 31 May 2015 should ensure that a mandate or CREST instruction is in place by no later than the election date of 14 August 2015. For certificated Shareholders, once submitted, a mandate form will remain valid for all subsequent dividends paid by the Company until such time as the Shareholder gives notice that they no longer wish to participate in the DIS. CREST participants must elect in respect of each dividend, otherwise they will receive the payment in cash. Full details of the DIS and a mandate form are available on the Company's website at: www.mavencp.com/migvct5.

However, in light of the investment restrictions proposed in the Government's Summer 2015 Budget, the Directors intend to review the operation of the DIS and reserve the right, under the Terms and Conditions of the Scheme, to suspend or terminate its operation without notice and revert to cash payments to all Participants.

In accordance with Listing Rule 15.5.1, and further to the information disclosed above, the Directors confirm that they are satisfied that all inside information (as defined by Section 118C of the Financial Services and Markets Act 2000) that the Directors and the Company may have in their possession relating to the Company during the period leading up to the announcement of its interim results for the six months ended 31 May 2015 has been notified to a regulatory information service.

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

23 July 2015

 

END

 

 

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