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Statement re Net Asset Value and Interim Dividend

Released 15:29 04-Jul-2019

RNS Number : 5564E
Maven Income and Growth VCT 5 PLC
04 July 2019

Maven Income and Growth VCT 5 PLC


Unaudited 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 2019 was 37.56p per Ordinary Share.


As Shareholders will be aware, the requirement to support younger and earlier stage businesses in accordance with the VCT Regulations may, over time, result in less predictable capital gains and lower income flows. However, the Directors do recognise the continuing importance of tax-free dividends to investors. Decisions on distributions take into consideration the availability of surplus revenue, the realisation of capital gains, the adequacy of distributable reserves, cash flow forecasts and the need to maintain VCT qualifying levels. These factors are all kept under regular review by the Board and the Manager. During the two prior financial years, and following several profitable realisations, the Company made a number of enhanced interim dividend payments outwith the regular payment cycle to ensure ongoing compliance with the VCT qualifying levels.


Accordingly, the Board is pleased to declare that an interim dividend in respect of the year ending 30 November 2019, of 0.50p per Ordinary Share, will be paid on 30 August 2019 to Shareholders on the register at close of business on 2 August 2019. Since the Company's launch, and after receipt of this latest dividend, 41.85p per share will have been distributed in tax-free dividends. The Board anticipates that the Company should be able to declare a further dividend of at least 1.00p per Ordinary Share in respect of the current financial year. 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.


The 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. Terms & conditions of the scheme, together with a mandate form, are available from the Company's website at:


Shareholders who have not previously applied to participate in the DIS and who wish to do so in respect of the dividend payable on 30 August 2019, 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 16 August 2019.


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 31 May 2019 has been or will be notified to a regulatory information service.


Issued on behalf of the Board

Maven Capital Partners UK LLP


4 July 2019



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Statement re Net Asset Value and Interim Dividend - RNS