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 30 April 2015 
 
   ProVen Planned Exit VCT plc (the "Company") presents an interim 
management statement for the three month period ended 30 April 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       Audited 
                                                            As at         As at 
                                                      30 Apr 2015   31 Jan 2015 
Total net assets                                        GBP3.72 m      GBP3.69m 
 
Net asset value per Ordinary Share                          77.3p         76.6p 
Cumulative dividends per Ordinary Share since               24.0p         24.0p 
launch 
Total return per Ordinary Share*                           101.3p        100.6p 
Mid-market price per Ordinary Share                         69.5p         69.5p 
 
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 
 
   On 15 May 2015, the Company announced a final dividend for the year 
ended 31 January 2015 of 3.0p per Ordinary Share. Having received 
approval at the Annual General Meeting of the Company on 22 June 2015, 
the dividend will be paid on 26 June 2015 to shareholders on the 
register at 5 June 2015. 
 
   Investment update 
 
   At 30 April 2015, the portfolio consisted of seven unquoted investments 
at a cost of GBP2.8m and a valuation of GBP3.2m, as well as cash funds 
of GBP0.5m. 
 
   Investment portfolio summary as at 30 April 2015 
 
 
 
 
                                      Cost   Valuation 
                                    GBP'000   GBP'000 
 
Cross Solar PV Limited                  600        833 
Long Eaton Healthcare Limited           400        551 
Donatantonio Group Limited              550        550 
SPC International Limited               530        536 
Cogora Group Limited                    500        500 
Eagle-i Music Limited                   200        200 
Blis Media Limited                       28         33 
Total venture capital investments     2,808      3,203 
 
Cash at bank and in hand                527        527 
 
Total                                 3,335      3,730 
 
 
   All venture capital investments are unquoted. 
 
   Investment activity for the three month period ended 30 April 2015 
 
   There was no investment activity during the period from 1 February 2015 
to 30 April 2015. 
 
   Investment activity from 1 May 2015 to the date of this announcement 
 
   On 1 May 2015, Long Eaton Healthcare Limited was disposed of in full for 
proceeds of GBP550,621. 
 
   On 19 May 2015, Eagle-i Music Limited was disposed of in full for 
proceeds of GBP225,747 (including GBP25,747 of accrued interest). 
 
   Changes to share capital 
 
   There have been no changes to the share capital during the period from 1 
February 2015 to 30 April 2015 or from 1 May 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 February 2015 to 30 April 2015 or from 1 May 
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#1930645