Proven VCT plc Proven Vct Plc : Offer Update

 
TIDMPVN 
 
 
   ProVen VCT plc 
 
   Offer Update 
 
   4 December 2017 
 
   On 20 October 2017, ProVen VCT plc (the "Company") 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 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. 
 
   As at 21 November 2017, valid applications for subscription totalling, 
in aggregate, GBP3.2 million had been received and allotted in respect 
of the Offer. 
 
   On 22 November 2017, following the Autumn Budget Statement, Her 
Majesty's Government introduced a number of changes to the rules 
governing Venture Capital Trusts. Further details of these changes were 
set out in the first draft of the Finance (No. 2) Bill 2018 (the 
"Finance Bill") published on 1 December 2017. 
 
   As of the date of this announcement, the Board does not believe that 
these rule changes will materially affect either the purpose for which 
funds are being raised under the Offer or the Company's investment 
policy and strategy. 
 
   Therefore, the Board confirms that the Offer remains open and the 
Company expects to make a final allotment of New Ordinary Shares on 20 
December 2017 unless the Offer is fully subscribed before then in which 
case the final allotment may be made at an earlier date. 
 
   Beringea LLP 
 
   Company Secretary 
 
   Telephone [phone] 
 
   - 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 VCT plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

December 04, 2017 11:29 ET (16:29 GMT)

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