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MAVEN Income & Growth 4 - failure to list shares

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
BusyBumbleBee
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MAVEN Income & Growth 4 - failure to list shares

#89319

Postby BusyBumbleBee » October 19th, 2017, 3:18 pm

There was a strange RNS from Maven Income And Growth VCT 4 plc on 18th October https://www.investegate.co.uk/mavincgro ... 43319484T/
Essentially this says that shares issued in March 2013 when the company merged with ORTUS VCT were never listed but should be listed on 19th October this year.

I was issued with a share certificate for my shares on 4th April 2013.

I tried recently to transfer these shares into a nominee account but the would-be nominee had the certificate returned by the registrar.
Has anyone else had a similar problem and has anyone received the dividends on these shares?

scotia
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Re: MAVEN Income & Growth 4 - failure to list shares

#89332

Postby scotia » October 19th, 2017, 4:23 pm

I was also surprised by the RNS.
On 1st March 2012, I purchased shares in Maven 4 - part of these were in the O (Ordinary) Class, and part were in the S Class. On 28th March 2013 the S Class shares were replaced by (an increased number of) O Class Shares. I have been consistently receiving the dividends on these shares. These were all new issue shares, with the accompanying tax relief.
My wife had Ortus shares which were converted to Maven 4 and Maven 4C shares on 4th April 2013. She sold them in May 2015.
These Ortus shares were purchased on the secondary market, and dividends were received. They were held in a nominee account with Fastrade (later renamed Charles Stanley Direct).
Maybe someone with more experience in these matters can clarify what actually has happened - but so far there seem to have been no problems with our shares.

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Re: MAVEN Income & Growth 4 - failure to list shares

#89356

Postby Kidman » October 19th, 2017, 5:41 pm

I received MAV4 in replacement for Ortus and as far as I am aware I have received all dividends for the correct amount of shares.

I can't see why not being listed should stop a transfer. The Registrar is merely holding a register of shareholders and whether those shares are listed or not shouldn't matter. After all, there are plenty of unlisted shares changing hands and being re-registered all the time, and strictly speaking AIM shares are not 'listed'. They are listed on AIM but not on an official EU stock exchange.


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