Proven Health VCT Proven Health Vct Plc : Result Of Meeting

 
TIDMPHV 
 
 
   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR 
INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY 
JURISDICTION IN WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION 
CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN 
ANY JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, 
JAPAN OR SOUTH AFRICA. 
 
   PROVEN HEALTH VCT PLC 
 
   (IN MEMBERS' VOLUNTARY LIQUIDATION) 
 
   RESULT OF GENERAL MEETING HELD ON 6 AUGUST 2013 
 
   Further to the proposals for the reconstruction and winding up of the 
Company which were announced on 27 June 2013, the special resolution 
placing the Company into members' voluntary liquidation to permit the 
implementation of the scheme of reconstruction and winding up of the 
Company under section 110 of the Insolvency Act 1986 (the "Scheme") was 
duly passed at the General Meeting held earlier today. 
 
   For the purposes of the Scheme, the aggregate value of the total net 
assets of the Company is GBP6.2 million. Assets have been allocated to 
the Rollover Fund and the Liquidation Fund in accordance with the terms 
of the Scheme. Any remaining balances in the Liquidation Fund will be 
distributed to Shareholders in due course. 
 
   Under the terms of the Scheme, the number of New ProVen Growth & Income 
VCT Shares to be issued to Shareholders is based on the adjusted Net 
Asset Value of a ProVen Growth & Income VCT Share (the "FAV per PGIV 
Share") and the adjusted Net Asset Value of an Ordinary Share (the "FAV 
per PHV Share") as at close of business on 2 August 2013.  The FAV per 
PGIV Share was 83.64 pence and the FAV per PHV Share was 30.23 pence. 
Accordingly, Shareholders will receive approximately 0.3614 New ProVen 
Growth & Income VCT Shares under the Scheme for every PHV Share held by 
them and 7,447,624 New ProVen Growth & Income VCT Shares in aggregate 
will be issued to PHV Shareholders. 
 
   Share certificates in respect of New ProVen Growth & Income VCT Shares 
issued in certificated form will be sent to Shareholders during the week 
commencing 19 August 2013 (or as soon as practicable thereafter). 
 
   The Company confirms that the listing of the Company's ordinary shares 
on the Official List of the UK Listing Authority and the trading in the 
Ordinary Shares on the main market of the London Stock Exchange will be 
cancelled with effect from 8.00 a.m. on 7 August 2013. 
 
   A copy of the resolution passed at the General Meeting will shortly be 
available for inspection via the National Storage Mechanism. 
 
   The proxy votes cast on the resolution were as follows: 
 
   Votes "For*":                           3,847,419 
 
   Votes "Against":                     79,703 
 
   Votes "Withheld":                  21,868 
 
   *      the votes "For" include those votes giving the Chairman 
discretion. 
 
   Enquiries: 
 
   For further information please contact. 
 
 
 
 
Steven Tuckley   Beringea LLP   020 7845 7820 
 
 
   Notes 
 
   Capitalised terms shall bear the meanings given to them in the Company's 
Circular dated 27 June 2013 unless the context otherwise requires. 
 
 
 
 
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   The owner of this announcement warrants that: 
 
   (i) the releases contained herein are protected by copyright and other 
applicable laws; and 
 
   (ii) they are solely responsible for the content, accuracy and 
originality of the 
 
   information contained therein. 
 
   Source: Proven Health VCT Plc via Thomson Reuters ONE 
 
   HUG#1721449