Proven Growth & Inc. Proven Growth & Income Vct Plc : Offer By Subscription

 
TIDMPGOO 
 
 
   ProVen Growth and Income VCT plc 
 
   20 October 2017 
 
   Offer for Subscription 
 
 
 
   ProVen Growth and Income VCT plc (the "Company") announces that it has 
published an offer document (the "Offer Document") to raise up to GBP4.4 
million, approximately the Sterling equivalent of EUR5 million, through 
an offer for subscription (the "Offer") of new ordinary shares ("New 
Ordinary Shares"). 
 
   The Offer opens on 20 October 2017 and will close at 1pm on 20 December 
2017 or as soon as the Offer is fully subscribed or such earlier time as 
the Directors in their absolute discretion may decide. 
 
   The Offer will be available exclusively for shareholders (and their 
spouse or civil partner) of the Company, ProVen VCT plc and ProVen 
Planned Exit VCT plc until 8 November 2017. 
 
   Applicants who had an existing shareholding, or whose spouse or civil 
partner had an existing shareholding, in the Company, ProVen VCT plc or 
ProVen Planned Exit VCT plc on 20 October 2017 will be entitled to 
additional New Ordinary Shares equivalent to 1% of the amount 
subscribed. 
 
   Pursuant to the Offer, Beringea LLP, the Company's investment manager 
("Beringea"), will receive a fee for acting as promoter of the Offer 
equal to five and a half (5.5) per cent. of the gross funds raised under 
the Offer from applications received through execution only brokers or 
directly from investors and three (3) per cent. of the gross funds 
raised under the Offer from applications received through financial 
advisers. Out of the fee Beringea will pay all costs agreed between the 
Company and Beringea, including charges and expenses of or incidental to 
the Offer. This arrangement constitutes a smaller related party 
transaction under Listing Rule 11.1.10. 
 
   A copy of the Offer Document is available free of charge from the 
registered office of the Company or from: 
 
   Beringea LLP 
 
   39 Earlham Street 
 
   London WC2H 9LT 
 
   To obtain a copy of the Offer Document, private investors and Financial 
Advisers should call the investment manager, Beringea, on 020 7845 7820. 
A downloadable version of the Offer Document will shortly be available 
from www.provenvcts.co.uk. 
 
   A copy of the Offer Document will be submitted to the National Storage 
Mechanism and will shortly be available for viewing online at the 
following website address: 
 
   http://www.morningstar.co.uk/uk/NSM 
 
   For further information please contact: 
 
   Shane Elliott on 020 7845 7820 
 
   Beringea LLP 
 
   Company Secretary 
 
   Telephone [phone] 
 
   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

October 20, 2017 08:08 ET (12:08 GMT)

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