Unaudited NAV and Second Interim Dividend

Maven Income & Growth VCT PLC

04 December 2025

 

Maven Income and Growth VCT PLC

Unaudited Net Asset Value (NAV) and Second Interim Dividend

Unaudited NAV

The Directors confirm:

·       Unaudited net asset value (NAV)¹ of 37.38p per Ordinary Share as at 30 November 2025, compared to 36.36p at 31 August 2025; and

·       NAV total return² of 148.84p per Ordinary Share as at 30 November 2025, compared to 147.82p at 31 August 2025.

Dividends

The Directors understand the importance of tax free distributions to Shareholders and, as announced in the 2025 Annual Report, enhanced the dividend policy by increasing the target annual yield from 5% to 6% of NAV per Ordinary Share at the immediately preceding year end. Shareholders should be aware that this remains a target and that 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. As the portfolio continues to expand and the proportion of younger, growth companies increase, the timing of distributions will be more closely linked to realisation activity, whilst also reflecting the requirement to maintain the VCT qualifying level.

First Interim Dividend

Following the profitable realisation of Horizon Ceremonies in July 2025, an enhanced interim dividend in respect of the year ending 28 February 2026, of 1.50p per Ordinary Share, was paid on 29 August 2025.

Second Interim Dividend

In line with the new policy and following the recent realisation of the investment in Ensco 969 Limited (trading as DPP), the Board is pleased to declare that a second interim dividend in respect of the year ending 28 February 2026, of 1.00p per Ordinary Share, will be paid on 16 January 2026 to Shareholders on the register at close of business on 12 December 2025.

Since the Company's launch, and after receipt of this second interim dividend, a total of 112.46p per Ordinary 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.

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 this second interim dividend, due to be paid on 16 January 2026, by completing a DIS mandate, which must be received by the Registrar (The City Partnership) by 2 January 2026, 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 webpage at: mavencp.com/migvct. Election to participate in the DIS can also be made through the Registrar's online investor hub at: maven-cp.cityhub.uk.com.

Notes:

¹The NAV at 30 November 2025 is unaudited and reflects the closing bid price of quoted securities as at that date.   The NAV incorporates the Directors' valuation of unlisted investments as at 30 November 2025.

²NAV total return is the sum of NAV per Ordinary Share and dividends paid per Ordinary Share since launch.

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

4 December 2025

 

END