7th Oct 2026 14:31
Maven Renovar VCT PLC - London-based venture capital trust - Says net asset value per share was 55.33 pence on July 31, down 17% from 67.24 pence a year earlier. Total NAV return was negative 4.3% compared with a total return of negative 5.6% for the benchmark Deutsche Numis Alternative Markets Index. After the proposal to change investment policy in May, the company conducted a tender offer and returned a total of GBP6.2 million to exiting shareholders, equivalent to 8% of the issued share capital. Maven declares an interim dividend of 3.50 pence per share, payable on November 12 and with an ex-dividend date of October 15. It paid a special dividend of the same amount in May. Cordel Group PLC, a supplier of AI-powered analytics solutions to rail and transport infrastructure operators, was the portfolio's largest contributor. Maven says it continues to review new AIM investment opportunities despite challenging market conditions. The first half of 2026 was "a volatile period for the smaller companies on AIM," it said, as Bank Rate of the Bank of England was kept at 3.75% and the conflict in the Middle East dragged on. Maven says it has strong liquidity to deliver its revised investment strategy and expects steady deployment in the second half of the year. Read More
