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

 
TIDMPPE 
 
 
 
 
ProVen Planned Exit VCT plc 
 Interim Management Statement for the 3 Months to 30 
 April 2014 
 In accordance with Rule 4.3 of the Disclosure Rules 
 and Transparency Rules ("DTR") of the UK Listing Authority, 
 ProVen Planned Exit VCT plc (the "Company") presents 
 an interim management statement for the three month 
 period ended 30 April 2014. The statement also includes 
 relevant financial information between the end of 
 the period and the date of publication of this statement. 
 This interim management statement has been prepared 
 solely to provide additional information to the shareholders 
 as a body to meet the relevant requirements of the 
 DTR, and should not be relied on by any other party 
 or for any other purpose. 
 
 
   Performance summary 
 
 
 
 
                                                           As at         As at 
                                                     30 Apr 2014   31 Jan 2014 
Total net assets                                        GBP3.78m     GBP3.73 m 
 
Net asset value per Ordinary Share                         78.4p         77.2p 
Cumulative dividends per Ordinary Share since              15.0p         15.0p 
launch 
Total return per Ordinary Share*                           93.4p         92.2p 
Mid-market price per Ordinary Share                        75.5p         75.5p 
 
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 
* NAV plus cumulative dividends paid since launch 
 Dividend 
 
 
   On 7 May 2014, the Company announced a final dividend of 3p per Ordinary 
Share which was subject to approval by Shareholders at the Annual 
General Meeting of the Company on 11 June 2014. Having received this 
approval, the dividend will be paid on 18 June 2014 to Ordinary 
Shareholders who were on the register on 6 June 2014. 
 
   Investment update 
 
   At 30 April 2014, the portfolio consisted of 7 unquoted investments at a 
cost of GBP3.06m and valuation of GBP3.17m and cash of GBP627,000. 
 
   Investment portfolio summary as at 30 April 2014 
 
 
 
 
                                      Cost   Valuation 
                                    GBP'000   GBP'000 
 
Cross Solar PV Limited                  600        683 
Donatantonio Limited                    550        550 
SPC International Limited               530        530 
Cogora Group Limited                    500        500 
Long Eaton Healthcare Limited           400        435 
Blis Media Limited                      275        275 
Eagle-i Music Limited                   200        200 
 
Total venture capital investments     3,055      3,173 
 
Cash at bank and in hand                627        627 
 
Total                                 3,682      3,800 
 
 
   All venture capital investments are unquoted. 
 
   Investment activity 
 
   There have been no additions or disposals of investments between 1 
February 2014 to 30 April 2014 or from 1 May 2014 to the date of 
publication of this statement. 
 
   Changes to share capital 
 
   There have been no changes to the share capital during the period from 1 
February 2014 to 30 April 2014 or from 1 May 2014 to the date of 
publication of this statement. 
 
   Material events 
 
   In April, Eagle Rock Entertainment Group Limited, Eagle -i Music 
Limited's parent company, was sold to Universal Media Group. As part of 
this transaction, Eagle-i Music Limited was spun out as a standalone 
company and provided with further funds by both ProVen VCT and ProVen 
Growth and Income VCT. 
 
   Other than the matters described above, there were no material events 
during the period from 1 February 2014 to 30 April 2014 or from 1 May 
2014 to the date of publication of this statement. 
 
   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 on [e-mail] or by telephone 020 
7845 7820. 
 
   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#1792651