Maven Income and Growth VCT 5 PLC
Unaudited Net Asset Value (NAV) and Interim
Dividend
The Directors of Maven Income and
Growth VCT 5 PLC (the Company) confirm that the unaudited NAV of
the Company as at 31 May 2024 was 32.09p per Ordinary Share and
that it reflects the payment, on 3 May 2024, of the final dividend
of 1.10p per Ordinary Share in respect of the year ended 30
November 2023.
As Shareholders will be aware from
recent Annual and Interim Reports, the decisions on distributions
take into consideration a number of factors, including the
realisation of capital gains, the adequacy of distributable
reserves, the availability of surplus revenue and the VCT
qualifying level, all of which are kept under close and regular
review. 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 preceding
year end. 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 Board is pleased to declare that
an interim dividend in respect of the year ending 30 November 2024,
of 1.00p per Ordinary Share, will be paid on 6 September 2024 to
Shareholders on the register at close of business on 9 August 2024.
Since the Company's launch, and after receipt of this interim
dividend, a total of 53.00p per Ordinary Share will have been
distributed in tax-free dividends.
Dividend Investment Scheme (DIS)
The Company has in place a DIS,
through which Shareholders may elect to have their dividend
payments used to subscribe for new Ordinary Shares issued by the
Company under the standing authority granted by Shareholders at
Annual General Meetings. Shares issued
under the DIS should qualify for VCT tax relief applicable for the
tax year in which they are allotted, subject
to an individual Shareholder's particular
circumstances.
Shareholders can elect to participate
in the DIS in respect of future dividends, including the interim
dividend, which is due to be paid on 6 September 2024, by
completing a DIS mandate, which must be received by the Registrar
(The City Partnership) before 23 August 2024, this being the next
dividend election date. The mandate form, terms & conditions
and full details of the scheme (including tax considerations) are
available from the Company's website at: mavencp.com/migvct5. Election
to participate in the DIS can also be made through the Registrar's
online investor hub at: maven-cp.cityhub.uk.com/login.
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 2024 has been, or will be, notified
to a regulatory information service.
Issued on behalf of the
Board
Maven Capital Partners UK LLP
Secretary
5
July 2024