ProVen Planned Exit VCT plc : Interim Management Statement

 
TIDMPPE 
 
ProVen Planned Exit VCT plc 
Interim Management Statement 
1 November 2011 to date 
 
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK 
Listing Authority, ProVen Planned Exit VCT plc ("the Company") presents an 
Interim Management Statement for the period from 1 November 2011 to date. 
 
Financial Summary 
The Company prepared audited initial accounts to 31 October 2011. At this date 
the Company had net assets of  GBP4.4 million. The net asset value per ordinary 
share was 91.9p and the net asset value per A share was 0.1p. 
 
Investment performance 
Net assets comprise mainly cash held on deposit and held in money market funds. 
The majority of this cash, at least 70% as calculated under HMRC regulations, is 
awaiting investment in qualifying venture capital companies. No venture capital 
investments have been made to date but the investment manager is encouraged by 
the number of suitable investment opportunities and expects to make a number of 
investments in the coming months. Over time, the performance of the Company will 
become more closely linked to the value of the venture capital investments but 
in the shorter term is likely to be impacted by market rates of interest for 
relatively low risk cash and cash based investments. 
 
Dividend 
On 1 December 2011, the Company announced a dividend of 3p per ordinary share to 
be paid on 21 December 2011 to ordinary shareholders on the register at 9 
December 2011. 
 
Material events and transactions 
The directors of the Company are not aware of any other significant events or 
transactions which have occurred up to the date of this statement which would 
have a material impact on the financial position of the Company. 
 
For further information, please contact the investment manager, Beringea LLP, on 
020 7845 7820. 
 
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Source: ProVen Planned Exit VCT plc via Thomson Reuters ONE 
 
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