Statement re NAV, Dividend and Offer

RNS Number : 6223Y

Maven Income and Growth VCT 5 PLC

27 January 2014

 



Maven Income and Growth VCT 5 PLC

Net Asset Value, Proposed Final Dividend and Offer for Subscription

The Directors of Maven Income and Growth VCT 5 PLC confirm that the unaudited net asset value of the Company as at 30 November 2013 was 37.09p per Ordinary Share.

The Directors are recommending the payment of a final dividend of 1.35p per Ordinary Share in respect of the year ended 30 November 2013, to be paid on 30 May 2014 to Shareholders on the register at close of business on 9 May 2014. Subject to the approval of Shareholders at the Annual General Meeting, the proposed final dividend will result in an aggregate payment of 2.00p per share in respect of the year ended 30 November 2013, which represents an increase of 21.21% over the total payment for the prior year.

Furthermore, the Directors confirm an unaudited net asset value of the Company as at 21 January 2014 of 40.63p per Ordinary Share, representing an increase of 9.54% over the net asset value as at 30 November 2013 and an increase of 11.71% over the previously announced net asset value of 36.37p at 10 October 2013, which was used as the basis for the Offer Price set out in the Prospectus for the Offer for Subscription issued by the Company on 24 October 2013. The rise in the net asset value over that period reflects the performance of AIM quoted securities in general and, in particular, certain investments in the Company's portfolio within the energy sector. As the Board recognises that the share prices of its AIM quoted investments in general, and these investments in particular, may remain volatile, the Directors intend to review the net asset value of the Company prior to the first allotment of shares under the Offer for Subscription, due to take place on or after 3 February 2014, and reserve their discretion to amend the Offer Price in accordance with the Prospectus. Any variation in the Offer Price will be announced through a regulatory information service.

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 financial results for the year ended 30 November 2013 has previously been notified to a regulatory information service.

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

27 January 2014

 

END

 

 

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