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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Proven | LSE:PPE | London | Ordinary Share | GB00B517XC78 | ORD SHS OF 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPPE ProVen Planned Exit VCT plc Interim Management Statement for the 3 Months to 30 April 2012 In accordance with Rule 4.3 of the Disclosure Rules and Transparency Rules ("DTR") of the UK Listing Authority, ProVen Planned Exit VCT plc (the "Company") presents an interim management statement for the three month period ended 30 April 2012. The statement also includes relevant financial information between the end of the period and the date of publication of this statement. This interim management statement has been prepared solely to provide additional information to the shareholders as a body to meet the relevant requirements of the DTR, and should not be relied on by any other party or for any other purpose. This interim management statement considers the future of the Company and, as such, any forward-looking comments have been made by the Directors in good faith based on the information available to them up to the time of their approval of this statement. This statement should therefore be treated with due caution due to the inherent uncertainties of the effects of both economic and business risk factors in considering forward-looking information. Performance summary As at As at 30 Apr 2012 31 Jan 2012 Total net assets GBP4.26 m GBP4.28 m Net asset value per Ordinary Share 88.2p 88.7p Cumulative dividends per Ordinary Share since launch 3.0p 3.0p Total return per Ordinary Share* 91.2p 91.7p Mid-market price per Ordinary Share 97.0p 97.0p Net asset value per 'A' Share 0.1p 0.1p Cumulative dividends per 'A' Share since launch - p - p Total return per 'A' Share * 0.1p 0.1p Mid-market price per 'A' Share 0.1p 0.1p * NAV plus cumulative dividends paid since launch On 27 April 2012, the Company declared a final dividend of 3.0p per Ordinary Share which was subject to approval by shareholders at the Annual General Meeting ("AGM") of the Company on 30 May 2012. This dividend was approved at the AGM and the dividend was paid on 6 June 2012 to ordinary shareholders on the register as at 25 May 2012. Investment update At 30 April 2012, the portfolio consisted of 3 unquoted investments at a cost and valuation of GBP1.2m and cash and liquidity funds of GBP3.1m. Investment portfolio summary as at 30 April 2012 (by value) Valuation at 30 April Cost 2012 GBP'000 GBP'000 Cross Solar PV Limited 600 600 Long Eaton Healthcare Limited 400 400 Eagle-i Music Limited 200 200 ----------------------- Total venture capital investments 1,200 1,200 ----------------------- Liquidity funds 502 502 Cash at bank and in hand 2,600 2,600 ----------------------- Total 4,302 4,302 ----------------------- All venture capital investments are unquoted. Investment activity The Company made the following additions and disposals between 1 February 2012 and 30 April 2012: Additions Cost GBP'000 Cross Solar PV Limited 600 Long Eaton Healthcare Limited 400 -------- 1,000 -------- Disposals Cost Market value Disposal Profit Total realised at 1 Feb proceeds against cost gain/(loss) 2012 current period GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 Campden Media 200 200 200 - - Limited ------------------------------------------------------------------ There have been no additions or disposals between 1 May 2012 and the date of publication of this statement. Outlook Against a backdrop of continuing economic uncertainty both in the UK and abroad, the Company has completed two new investments in the period since 31 January 2012. The investment management team and the Board are pleased about the range and quality of investment opportunities being identified and the high proportion of cash and liquidity funds in the portfolio provides the Company with scope to capitalise on suitable investment opportunities as they arise. Material events The Company held its AGM on 30 May 2012. All resolutions proposed at the meeting were passed. Other than the matters described above, there were no material events during the period from 1 February 2012 to 30 April 2012 or in the period from 1 May 2012 to the date of publication of this statement. Further information Further information regarding the Company, can be found on Beringea's dedicated VCT website: www.provenvcts.co.uk. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. 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 Planned Exit VCT plc via Thomson Reuters ONE [HUG#1620337]
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