ProVen Plnd Ex VCT Proven Planned Exit Vct Plc : Interim Management Statement

 
TIDMPPE 
 
 
   ProVen Planned Exit VCT plc 
 
   Interim Management Statement for the three months to 31 October 2015 
 
   ProVen Planned Exit VCT plc (the "Company") presents an interim 
management statement for the three month period ended 31 October 2015. 
The statement also includes relevant financial information between the 
end of the period and the date of this announcement. 
 
   This interim management statement has been prepared solely to provide 
additional information to the shareholders as a body, and should not be 
relied on by any other party or for any other purpose. 
 
   Performance summary 
 
 
 
 
                                                        Unaudited      Unaudited 
                                                            As at          As at 
                                                      31 Oct 2015   31 July 2015 
Total net assets                                        GBP2.15 m      GBP3.53 m 
 
Net asset value per Ordinary Share                          44.6p          73.2p 
Cumulative dividends per Ordinary Share since               57.0p          27.0p 
launch 
Total return per Ordinary Share*                           101.6p         100.2p 
Mid-market price per Ordinary Share                         45.0p          73.5p 
 
Net asset value per 'A' Share                                0.1p           0.1p 
Cumulative dividends per 'A' Share since launch               - p            - p 
Total return per 'A' Share *                                 0.1p           0.1p 
Mid-market price per 'A' Share                               0.1p           0.1p 
 
  * Net Asset Value plus cumulative dividends since 
  launch 
 
 
   Dividends paid or declared in the period 
 
   An interim dividend of 30.0p per Ordinary Share was paid on 23 October 
2015 to Shareholders on the register as at 9 October 2015. No dividend 
was paid on the 'A' Shares. 
 
   Investment update 
 
   At 31 October 2015, the portfolio consisted of two unquoted investments 
at a cost of GBP528,000 and a valuation of GBP533,000, as well as cash 
of GBP1,637,000. 
 
   Investment portfolio summary as at 31 October 2015 
 
 
 
 
                                      Cost   Valuation 
                                    GBP'000   GBP'000 
 
Cogora Group Limited                    500        500 
Blis Media Limited                       28         33 
Total venture capital investments       528        533 
 
Cash at bank and in hand              1,637      1,637 
 
Total                                 2,165      2,170 
 
 
 
 
   All venture capital investments are unquoted. 
 
   Investment activity for the three month period ended 31 October 2015 
 
   On 9 October 2015 Donatantonio Group Limited was disposed of at its cost 
of GBP550,000. Cross Solar PV Limited was sold on 30 October 2015 for 
proceeds of GBP802,000. 
 
   Investment activity from 1 November 2015 to the date of this 
announcement 
 
   There was no other investment activity during the period from 1 November 
2015 to the date of this announcement. 
 
   Changes to share capital 
 
   There have been no changes to the share capital during the period from 1 
August 2015 to 31 October 2015 or from 1 November 2015 to the date of 
this announcement. 
 
   Material events 
 
   Other than the matters described above, there were no material events 
during the period from 1 August 2015 to 31 October 2015 or from 1 
November 2015 to the date of this announcement. 
 
   Further information 
 
   Further information regarding the Company, can be found on Beringea's 
dedicated VCT website: www.provenvcts.co.uk or by contacting Beringea, 
the Investment Manager at [e-mail] or by telephone 020 
7845 7820. 
 
   Beringea LLP 
 
   Company Secretary 
 
   Telephone [phone] 
 
   -End 
 
 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: ProVen Planned Exit VCT plc via Globenewswire 
 
   HUG#1972721 
 
 
 
 

(END) Dow Jones Newswires

December 11, 2015 05:56 ET (10:56 GMT)

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