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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Proven Vct Plc | LSE:PVN | London | Ordinary Share | GB00B8GH9P84 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 59.50 | 58.00 | 61.00 | 59.50 | 59.50 | 59.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | -9.88M | -13.83M | -0.0533 | -11.16 | 154.26M |
TIDMPVN
ProVen VCT plc
Interim Management Statement
for the three months ended 31 May 2023
ProVen VCT plc (the "Company") presents an Interim Management Statement for the three-month period ended 31 May 2023. The statement also includes relevant financial information between the end of the period and the date of this announcement.
Performance
Unaudited Audited 31 May 28 February 2023 2023 Pence Pence Net Asset Value per share ("NAV") 64.3 65.5 Dividends paid to date* 80.75 80.75 NAV plus dividends paid to date 145.05 146.25
*Dividends paid represent dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in October 2012. Prior to this date, the Company paid dividends totalling 113.95p on the 5p Ordinary Shares.
Dividends paid or declared
On 9 June 2023, the Company announced a final dividend for the year ended 28 February 2023 of 2.0p per share. Having received approval for the final dividend at the Annual General Meeting of the Company on 12 July 2023, this dividend will be paid on 4 August 2023 to Shareholders on the register at 7 July 2023. Payment of this dividend will reduce the NAV per share as shown above to 62.3p pence and increase dividends paid to date to 82.75p per share.
Investment portfolio summary at 31 May 2023
Portfolio summary
Valuation Venture capital investments GBP'000 Luxury Promise Limited 8,294 MPB Group Limited 7,027 Infinity Reliance Limited (t/a My 1st Years) 6,090 Picasso Labs, Inc. (t/a CreativeX) 5,306 Social Value Portal Ltd 4,313 Utilis Israel Ltd (t/a Asterra) 4,298 Access Systems, Inc. 3,870 WS HoldCo, PBC. (t/a WiredScore) 3,752 Cogora Group Limited 3,359 Lupa Foods Limited 3,268 Other investments 53,968 --------- Total investments 103,545 Cash and cash equivalents 60,239 Other net current assets 361 Net Assets 164,145 =========
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 2023
Investment additions
There were no investment additions for the Company in the quarter.
Investment disposals
Gain Realised Market Disposal against loss Cost value at 1 March 2023 proceeds cost in period GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 Monica Vinader Limited 534 7,037 6,312 5,778 (725) Aistemos Limited 1,819 3,093 3,093 1,274 - 2,353 10,130 9,405 7,052 (725) ======= ====================== ========= ======== ==========
Investment activity from 1 June 2023 to the date of this announcement
There has been no investment activity for the Company from 1 June 2023 to the date of this announcement.
Ordinary Shares Changes to share capital of 10p each As at 1 March 2023 247,113,415 Shares bought back during the 3 months to 31 May 2023 - Shares issued during the 3 months to 31 May 2023 8,116,540 As at 31 May 2023 255,229,955 ============
In the period from 1 June 2023 to the date of this announcement, 701,809 Ordinary Shares were repurchased and subsequently cancelled. On 6 July 2023, 2,878,511 Ordinary Shares were issued pursuant to the offer for subscription that opened on 19 October 2022. 2,878,511 Ordinary Shares were allotted at an average price of 68.0p, based on the latest net asset value of 65.5p per Ordinary Share, being the net asset value as at 28 February 2023.
Material events
Other than the matters described above, there were no material events during the period from 1 March to 31 May 2023 or in the period from 1 June 2023 to the date of this announcement.
Further information
Further information regarding the Company, can be found on Beringea's dedicated VCT website: www.proveninvestments.co.uk or by contacting Beringea, the Investment Manager at info@beringea.co.uk or by telephone 020 7845 7820.
Beringea LLP
Company Secretary
Telephone 020 7845 7820
-End
(END) Dow Jones Newswires
July 14, 2023 09:03 ET (13:03 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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