Maven Income and Growth VCT 3 PLC
Unaudited Net Asset Value and Proposed Final
Dividend
On 13 December 2024, the Directors of
Maven Income and Growth VCT 3 PLC (the Company) announced that the
unaudited net asset value of the Company as at 30 November 2024 was
51.31p per Ordinary Share.
The Directors propose that a final
dividend of 2.15p per Ordinary Share in respect of the year ended
30 November 2024, be paid on 9 May 2025 to Shareholders on the
register at close of business on 28 March 2025. This will bring the annual dividend to 3.15p per Ordinary
Share, representing an annual yield of 6% based on the NAV at the
immediately preceding year end.
As Shareholders will be aware from
recent Annual and Interim Reports, 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. Your
Board recognises the importance to Shareholders of regular tax free
distributions and, given the maturity and diversity now evident in
the portfolio, has elected to improve the dividend policy. From the
year ended 30 November 2024, your Company has increased its target
annual dividend from 5% to 6% of the NAV per Ordinary Share at the
immediately preceding year end.
Since the Company's launch, and after
receipt of the proposed final dividend, a total of 102.87p 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
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 9 May 2025,
should ensure that a mandate form, or CREST instruction if
appropriate, is received by The City Partnership (UK) Limited prior
to the dividend election date of 11 April
2025. Election to
participate in the DIS can also be made through the Registrar's
online investor hub at https://maven-cp.cityhub.uk.com.
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 annual results
for the year ended 30 November 2024 has been or will be notified to
a regulatory information service.
Issued on behalf of the
Board
Maven Capital Partners UK LLP
Secretary
27 February 2025
