Maven Income and Growth VCT 3 PLC Unaudited Net Asset Value and Interim Dividend (2589E)
July 02 2019 - 11:20AM
UK Regulatory
TIDMMIG3
RNS Number : 2589E
Maven Income and Growth VCT 3 PLC
02 July 2019
Maven Income and Growth VCT 3 PLC
Unaudited Net Asset Value and Interim Dividend
The Directors of Maven Income and Growth VCT 3 PLC ("the
Company") confirm that the unaudited net asset value of the Company
as at 31 May 2019 was 61.97p per Ordinary Share.
As Shareholder's will be aware from recent Annual and Interim
Reports, the Company does not follow a fixed dividend policy and
decisions on distributions take into consideration the availability
of surplus revenue, the realisation of capital gains, the adequacy
of distributable reserves and the VCT qualifying level. These
factors are all kept under close and regular review by the Board
and the Manager, who recognise the importance of tax-free
distributions to Shareholders. During 2017 and 2018, the Company
made a number of enhanced dividend payments, which occurred out
with the normal dividend payment cycle and were the result of a
build-up of distributable reserves and the requirement to maintain
ongoing compliance with the VCT regulations.
The Board is pleased to declare that an interim dividend in
respect of the year ending 30 November 2019, of 2.00p 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, 84.17p per share
will have been distributed in tax-free dividends. 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:
www.mavencp.com/migvct3.
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 Link Asset 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
Secretary
2 July 2019
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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