Suspension of Dividend Investment Scheme (DIS)

RNS Number : 7805H

Maven Income and Growth VCT 5 PLC

26 March 2020

 

Maven Income and Growth VCT 5 PLC (the Company)

Suspension of Dividend Investment Scheme (DIS)

In light of the current volatility in financial markets caused by the global coronavirus pandemic, the Board has decided that it is appropriate to suspend the DIS with immediate effect. Whilst it is too early to assess the full impact on the core unlisted portfolio holdings, there has been an impact on the AIM portfolio and listed liquidity management assets as a result of wider market movements and increased trading volumes. The Board is aware that the Manager is working actively with each investee company to understand the full impact of the virus and is taking protective action as quickly as possible on a case by case basis. The Board anticipates providing a further update shortly.

Further to this, the proposed final dividend for the financial year to 30 November 2019 of 1.10p per Ordinary Share, payable on 1 May 2020, and all subsequent dividends, until further notice, will be paid to Shareholders by either cheque or 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

26 March 2020

 

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