Proven VCT plc Proven Vct Plc : Offer For Subscription

 
TIDMPVN 
 
 
   ProVen VCT plc 
 
   20 October 2017 
 
   Offer for Subscription 
 
   ProVen 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 Growth and Income 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 Growth and 
Income 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 VCT plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

October 20, 2017 08:07 ET (12:07 GMT)

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