MIG VCT
Matrix Income & Growth VCT plc
Enquiries 020 3206 7099
Welcome to the webpage of Matrix Income & Growth VCT plc. The Company was launched in the 2004/2005 tax year and raised £20.9 million, net of issue costs. It merged with Matrix Income & Growth 3 VCT plc on 20 May 2010.
Investment Objective
To provide investors with an income stream, by way of tax free dividends and to generate capital growth which, following portfolio realisations, can be distributed by way of additional tax free dividends.
Investment Adviser - Matrix Private Equity Partners
Matrix Private Equity Partners LLP (MPEP) is one of the most experienced teams focused on VCT investment, currently advising around £120 million of funds on behalf of four VCTs. There are a number of features that make MPEP stand out as a VCT manager.
For further information on MPEP click here.
The Matrix VCT Linked Offer
The second Matrix VCT Linked Offer was launched on 20 January 2012. The Offer for a total of £21 million is to be raised jointly by the VCT together with Matrix Income & Growth 4 VCT plc and The Income & Growth VCT plc. The total amount of each subscription received will be divided equally between the three VCTs. MIG VCT is therefore seeking to raise £7 million.
The Offer will close on 5 April 2012 in respect of the current tax year and on 30 June 2012 in respect of the 2012/13 tax year though it may be extended beyond this date at the Directors’ discretion.
The 2010/11 raised £16.2 million gross across the three VCTs, £5.4 million of which was raised for MIG VCT.
Copies of the full prospectus which comprises the Securities Note (including the application form), the more detailed Registration Document and the Summary Note may be downloaded by clicking on the following links.
Merger of the Company with Matrix Income & Growth 3 VCT plc
The Company merged with Matrix Income & Growth 3 VCT plc (MIG 3 VCT) on 20 May 2010 following the approval of the merger of the two Companies by Shareholders at an Extraordinary General Meeting held on 12 May 2010.
As part of the merger process MIG3 VCT was placed in members’ voluntary liquidation and its assets and liabilities were transferred to the Company. This was in consideration for the issue of new ordinary shares of 1 pence each in the capital of the Company at a deemed issue price of 83.9 pence per share. Each former MIG 3 VCT Shareholder received approximately 1.0655 shares in MIG VCT (rounded down to the nearest whole number) for each MIG 3 VCT share that they held at the date of the merger.
For further information on the merger and the specific proposals approved by Shareholders on 12 May 2010, please click here to download a PDF of the Company's circular and please click here to download a PDF of the Prospectus.
Latest Performance Data at 30 September 2011 (unaudited)
| Date |
Net assets (£m) |
Net asset value (NAV) per share (p) |
Net cumulative dividends paid per share (p) |
NAV total return per share to shareholders since launch |
Share price (p)* |
|---|---|---|---|---|---|
Matrix Income & Growth VCT plc (MIG VCT) raised 2004/2005 - opening NAV: 94.5p |
|||||
| As at 30 September 2011 (unaudited) |
37.79 |
87.87 |
26.80 |
114.67 |
77.12 |
Matrix Income & Growth 3 VCT plc (MIG 3 VCT) raised 2005/2006 - opening NAV: 94.5p |
|||||
| As at 30 September 2011 (unaudited) |
- |
93.63 |
15.41 |
109.04 |
- |
* Source: London Stock Exchange.
| Rate of income tax relief |
Cost per share (p) |
Cost per share net of income tax relief (p) |
NAV total return per share (p) |
Profit/(loss) per share before income tax relief (p) |
Profit/(loss) per share after income tax relief (p) |
|
|---|---|---|---|---|---|---|
| MIG VCT 2004/2005 |
40% |
100.00 |
60.00 |
114.67 |
14.67 |
54.67 |
| MIG 3 VCT 2005/2006 |
40% |
100.00 |
60.00 |
109.04 |
9.04 |
49.04 |
Latest Dividend Paid
| Period ended |
Payment date |
Amount per share |
Cumulative dividends paid per share |
|
|---|---|---|---|---|
| 31 December 2011 |
15 September 2011 |
0.50p |
26.80p |
|
For a full dividend history please click here
Portfolio
Please click here to see the investee companies in the fund.
Boiler Room Scams - Shareholder warning
Boiler rooms are high pressure sales firms, often based overseas, that target investors illegally offering them non-tradable, overpriced or even non-existent shares. Alternatively, if you already own shares in a company, you may receive a call from someone offering to buy your shares, usually at a higher price than their market value. Please click here to read the FSA's advice on boiler room scams.
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