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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Proven Growth & Income Vct Plc | LSE:PGOO | London | Ordinary Share | GB00B5B7YS03 | ORD 1.6187P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 49.15 | 47.80 | 50.50 | 49.15 | 49.15 | 49.15 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Finance Services | -19.67M | -23.86M | -0.0783 | -6.28 | 149.69M |
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ProVen Growth & Income VCT plc
Interim Management Statement
for the three months ended 30 November 2016
ProVen Growth & Income VCT plc (the "Company") presents an Interim
Management Statement for the three month period ended 30 November 2016.
The statement also includes relevant financial information between the
end of the period and the date of this announcement.
Performance
Unaudited Unaudited Unaudited Audited
30 November 31 August 31 May 29 February
2016 2016 2016 2016
Pence Pence Pence Pence
Net Asset Value per share ("NAV") 77.9 80.2 82.3 80.0
Dividends paid/ declared since class launch (originally
as 'C' Shares)* 41.6 39.6 35.6 35.6
Total Return (NAV plus dividends paid/ declared since
'C' Share class launch) 119.5 119.8 117.9 115.6
* Dividends paid/ declared represents dividends paid/ declared 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 8 November 2016, the Company announced an interim dividend for the
year ending 28 February 2017 of 2.0p per Ordinary Share. This dividend
was paid on 16 December 2016 to shareholders on the register at 18
November 2016.
Investment portfolio summary at 30 November 2016
Portfolio summary
Valuation
GBP'000
Venture capital investments
Third Bridge Group Limited 5,312
Pulpitum Limited 5,238
Dryden Holdings Limited 4,785
Sealskinz Holdings Limited 3,110
APM Healthcare Limited 2,977
Blis Media Limited 2,842
Disposable Cubicle Curtains Limited 2,768
D3O Holdings Limited 2,450
Chess Technologies Limited 2,318
MEL Topco Limited (t/a Maplin Electronics) 2,174
Other investments 23,012
56,986
Cash at bank 25,515
Total 82,501
Quoted investments are valued at the closing bid price at 30 November
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 30 November 2016
Investment additions
GBP'000
Honeycomb.TV Limited 605
ContactEngine Limited 550
1,155
On 15 November 2016, the Company committed to invest GBP667,000 in
Firefly Learning Limited, subject to clearance from HMRC.
Also during the period Dianomi Limited split its operations into Dianomi
Limited and Buckingham Gate Financial Services Limited, and TVPlayer
Limited de-merged from its parent company Simplestream Limited. The
Company received a pro rata interest in these additional companies.
Investment disposals
Market Gain Realised
value at Disposal against (Loss)/ Gain
Cost 1 September 2016 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
MyOptique
Group
Limited 3,630 6,467 6,453 2,823 (14)
Donatantonio
Group
Limited 93 93 121 28 28
Celoxica
Limited 68 68 68 - -
3,791 6,628 6,642 2,851 14
Investment activity from 1 December 2016 to the date of this
announcement
Investment additions
GBP'000
Infinity Reliance Limited (trading as My 1st Years) 1,845
Whistle Sports, Inc. 1,696
D3O Holdings Limited 295
TVPlayer Limited 279
4,115
Investment disposals
Market Gain Realised
Value at Disposal against gain in
Cost 1 September 2016 proceeds cost period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Celoxica Limited 46 46 46 - -
46 46 46 - -
Offer for Subscription
On 21 September 2016, the Company launched an offer for subscription of
new ordinary shares to raise up to GBP30 million, with an over allotment
facility of up to a further GBP10 million.
Changes to share capital
Ordinary
Shares of
1.6187p each
As at 1 September 2016 89,479,641
Ordinary Shares bought back during the 3 months to
30 November 2016 (476,661)
Ordinary Shares issued during the 3 months to 30 November
2016* 9,474,341
As at 30 November 2016 98,477,321
* Under the Offer for Subscription dated 21 September 2016.
In the period from 1 December 2016 to the date of this announcement,
128,000 Ordinary Shares were repurchased and subsequently cancelled and
304,721 Ordinary Shares were issued under the terms of the Company's
Dividend Reinvestment Scheme in respect of the dividend of 2.0p per
Ordinary Share paid on 16 December 2016.
Material events
On 18 January 2017, the Company announced that the Offer for
Subscription which opened on 21 September 2016 (the "Offer") will close
to further applications at 5 p.m. on Tuesday 31 January 2017. The final
allotment for the 2016/17 tax year is expected to take place on 3 March
2017. There will be a further allotment for the tax year 2017/18 to
follow as soon as practicable after 5 April 2017, following which the
Offer will close.
Other than the matters described above, there were no material events
during the period from 1 September 2016 to 30 November 2016 or in the
period from 1 December 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 provenvcts@beringea.co.uk or by telephone 020
7845 7820.
Beringea LLP
Company Secretary
Telephone 020 7845 7820
-End
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq 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
(END) Dow Jones Newswires
January 23, 2017 12:52 ET (17:52 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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