Maven News

[scotia]

Maven news dated 2nd December:-

Maven achieves over 5x return on sale of Nenplas

More detail at:-

http://www.mavencp.com/about/latest/450 ... m_content=

But there appears to be no indication as to what effect (if any) this has on Maven VCT NAVS

[naflod]

Hi Scotia

Of the Maven VCTs that I hold, Nenplas appears to be in Maven 4, but not Maven 5. I haven't had a look at the others.

In June this year, Nenplas was in Maven 4 at a value of £1,106k out of Net Assets of £33,876k, with a cost of £323k.

The press release states that it was "over 5x" cost, without indicating how much over.

Taking 5 x cost that gives us £1,615k, an uplift of £509k which suggests that NAV has increased from 98.33p to 99.81p.

Allowing for that "over" it seems reasonable to say that NAV has increased by just over 1.5p.

naflod

[scotia]

Thanks Naflod for the calculation
I carried out a similar calculation for
Maven 1 - 2.5p increase
Maven 2 - 2p increase
Maven 3 - 3p increase

But there is a big unknown in these calculations - the original cost. Part of this holding was sold in 2013, then further additions were made. So there could be a number of ways of calculating the 5 times increase - it may not be 5 times the quoted original cost.
Whatever - it doesn't look like a major increase, but the received cash is quite significant - particularly in Maven 3 (around 10% of total)

[127tolmers]

http://www.investegate.co.uk/mavincgrov ... 40350967Y/

Very little growth (0.67p) and the same dividend for MAV4.

[Kidman]

Reading about Maven reminds me that they and Albion are two groups each with several VCTs who have not caught the Baronsmead/Foresight/Octopus merger fever.

It seems that merging five or six VCTs into one should give significant cost savings after a year or two, but maybe Maven and Albion shareholders like having the choice of different VCTs from their manager. A merger would remove the need to have linked offers, hopefully increase liquidity and ideally reduce volatility of returns.

[scotia]

The advantage of having more than one VCT in a group is that you can sell one at the end of a 5 year hold, and reinvest in another - without having to separate the buy and sell by 6 months in order to obtain the tax benefit. This, of course, assumes that the group will launch new offers which you stand a reasonable chance of purchasing (unlike Northern and Baronsmead).

[flyer61]

Any news on a Maven offer?

[scotia]

Any news on a Maven offer?

Maven had a small offer this tax year on its VCT6, but this has now closed
And they no longer operate their DRIS schemes