Proven Growth & Inc. Proven Growth & Income Vct Plc : Interim Management Statement

 
TIDMPGOO 
 
 
   ProVen Growth & Income VCT plc 
 
   Interim Management Statement 
 
   for the three months ended 31 May 2016 
 
   ProVen Growth & Income VCT plc (the "Company") presents an Interim 
Management Statement for the three month period ended 31 May 2016. The 
statement also includes relevant financial information between the end 
of the period and the date of this announcement. 
 
   Performance 
 
 
 
 
                                    Unaudited    Audited 
                                      31 May    29 February 
                                       2016        2016 
                                      Pence       Pence 
Net Asset Value per share ("NAV")        82.3          80.0 
Dividends paid to date*                  35.6          35.6 
NAV plus dividends paid to date         117.9         115.6 
 
 
 
 
   * Dividends paid represents dividends paid in respect of the Original 
'C' Shares between their launch in 2006 up until their conversion in 
2009 and as Ordinary Shares since the 'C' Share conversion. 'C' Shares 
were converted into Ordinary Shares on a one for one basis in 2009. 
 
   Dividends paid or declared 
 
   On 1 June 2016, the Company announced a final dividend for the year 
ended 29 February 2016 of 4.0p per share. Having received approval at 
the Annual General Meeting of the Company on 5 July 2016, the dividend 
will be paid on 15 July 2016 to shareholders on the register at 17 June 
2016. 
 
 
 
   Investment portfolio summary at 31 May 2016 
 
   Portfolio summary 
 
 
 
 
                                             Valuation 
Venture capital investments                   GBP'000 
 
MyOptique Group Limited                          5,584 
Pulpitum Limited                                 5,369 
Dryden Holdings Limited                          4,885 
Third Bridge Group Limited                       4,797 
Sealskinz Holdings Limited                       3,116 
Big Data Partnership Limited                     2,940 
APM Healthcare Limited                           2,854 
Blis Media Limited                               2,842 
Disposable Cubicle Curtains Limited              2,633 
MEL Topco Limited (t/a Maplin Electronics)       2,621 
Other investments                               25,544 
                                                63,185 
Cash at bank                                    11,184 
Total                                           74,369 
 
 
 
 
   Quoted investments are valued at the closing bid price at 31 May 2016, 
discounted where appropriate. Unquoted investments are valued at fair 
values established using the International Private Equity and Venture 
Capital Valuation Guidelines. 
 
   Investment activity during the three month period ended 31 May 2016 
 
 
 
 
                               GBP'000 
Thread Inc.                        620 
InContext Solutions, Inc.          400 
Big Data Partnership Limited       253 
Other investments                    2 
                                 1,275 
 
 
 
 
   Investment disposals 
 
 
 
 
                                                              Gain     Realised 
                                Market            Disposal   against     gain 
                 Cost    value at 1 March 2016    proceeds    cost     in period 
               GBP'000         GBP'000           GBP'000    GBP'000    GBP'000 
Speciality 
 European 
 Pharma 
 Limited         2,052                   2,052       2,052         -           - 
Celoxica 
 Limited            65                      65          65         -           - 
Linkdex 
 Limited            45                      45          45         -           - 
Peerius 
 Limited            33                      33          33         -           - 
Population 
 Genetics 
 Technologies 
 Limited             -                      15          15        15           - 
                 2,195                   2,210       2,210        15           - 
 
 
 
 
   Investment activity from 1 June 2016 to the date of this announcement 
 
   Investment additions 
 
 
 
 
                     GBP'000 
Poq Studio Limited       875 
                         875 
 
 
   Investment disposals 
 
 
 
 
                                                              Gain    Realised 
                                Market            Disposal   against   gain in 
                 Cost    Value at 1 March 2016    proceeds    cost     period 
               GBP'000         GBP'000           GBP'000    GBP'000   GBP'000 
Celoxica 
 Limited            44                      44          44         -         - 
Linkdex 
 Limited            48                      48          48         -         - 
Conversity 
 Limited            34                       -          34         -        34 
                   126                      92         126         -        34 
 
 
 
 
 
 
 
                                                            Ordinary 
                                                             Shares 
Changes to share capital                                 of 1.6187p each 
As at 1 March 2016                                            89,876,145 
Shares bought back during the 3 months to 31 May 2016                  - 
Shares issued during the 3 months to 31 May 2016                       - 
As at 31 May 2016                                             89,876,145 
 
 
 
 
   In the period from 1 June 2016 to the date of this announcement, 599,209 
Ordinary Shares were repurchased and subsequently cancelled. 
 
   Material events 
 
   Other than the matters described above, there were no material events 
during the period from 1 March 2016 to 31 May 2016 or in the period from 
1 June 2016 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 Growth & Income VCT plc via Globenewswire 
 
   HUG#2028293 
 
 
 
 

(END) Dow Jones Newswires

July 13, 2016 11:47 ET (15:47 GMT)

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