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PVN Proven Vct Plc

59.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec -9.88M -13.83M -0.0533 -11.16 154.26M

Proven VCT plc Proven Vct Plc : Interim Management Statement

23/01/2017 5:58pm

UK Regulatory


 
TIDMPVN 
 
 
   ProVen VCT plc 
 
   Interim Management Statement 
 
   for the three months ended 30 November 2016 
 
   ProVen VCT plc (the "Company") presents an Interim Management Statement 
for the three month period ended 30 November 2016. The statement also 
includes relevant financial information between the end of the period 
and the date of this announcement. 
 
   Performance 
 
 
 
 
 
 
                                                        Unaudited    Unaudited   Unaudited    Audited 
                                                        30 November   31 August    31 May    29 February 
                                                           2016         2016        2016        2016 
                                                          Pence        Pence       Pence       Pence 
Net Asset Value per share ("NAV")                              99.5       100.8      103.1         100.7 
Dividends paid/ declared per share since conversion/ 
 consolidation*                                                26.5        24.0       20.0          20.0 
Total Return (NAV plus dividends paid/ declared*)             126.0       124.8      123.1         120.7 
 
 
 
 
   *Dividends paid/ declared represent dividends paid/ declared since the 
consolidation of 5p Ordinary Shares into 10p Ordinary Shares on 30 
October 2012. Prior to this date, the Company paid dividends totalling 
113.95p on the 5p Ordinary Shares. 
 
   Dividends paid or declared 
 
   On 8 November 2016, the Company announced an interim dividend for the 
year ending 28 February 2017 of 2.5p per Ordinary Share. This dividend 
was paid on 16 December 2016 to shareholders on the register at 18 
November 2016. 
 
   Investment portfolio summary at 30 November 2016 
 
   Portfolio summary 
 
 
 
 
                              Valuation 
Venture capital investments    GBP'000 
 
Watchfinder.co.uk Limited         7,434 
Monmouth Holdings Limited         3,844 
Pulpitum Limited                  3,793 
Cogora Group Limited              3,524 
Monica Vinader Limited            3,468 
Perfect Channel Limited           3,429 
Litchfield Media Limited          3,423 
Think Limited                     3,210 
SPC International Limited         2,843 
Third Bridge Group Limited        2,458 
Other investments                24,890 
                                 62,316 
Cash at bank                     38,963 
Total                           101,279 
 
 
 
 
   Quoted investments are valued at the closing bid price at 30 November 
2016, discounted where appropriate. 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 30 November 2016 
 
   Investment additions 
 
 
 
 
                        GBP'000 
Honeycomb.TV Limited        495 
ContactEngine Limited       450 
                            945 
 
 
 
 
   On 15 November 2016, the Company committed to invest GBP758,000 in 
Firefly Learning Limited, subject to clearance from HMRC. 
 
 
 
   Also during the period Dianomi Limited split its operations into Dianomi 
Limited and Buckingham Gate Financial Services Limited, and TVPlayer 
Limited de-merged from its parent company Simplestream Limited. The 
Company received a pro rata interest in these additional companies. 
 
   Investment disposals 
 
 
 
 
                             Market                      Gain      Realised 
                             value at        Disposal   against   (loss)/ gain 
                 Cost    1 September 2016    proceeds    cost      in period 
               GBP'000       GBP'000        GBP'000    GBP'000      GBP'000 
MyOptique 
 Group 
 Limited         2,420              4,311       4,302     1,882            (9) 
Donatantonio 
 Group 
 Limited           100                100         129        29             29 
Celoxica 
 Limited            68                 68          68         -              - 
                 2,588              4,479       4,499     1,911             20 
 
 
 
 
   Investment activity from 1 December 2016 to the date of this 
announcement 
 
   Investment additions 
 
 
 
 
                                                      GBP'000 
Infinity Reliance Limited (trading as My 1st Years)     2,155 
Whistle Sports, Inc.                                    2,090 
D3O Holdings Limited                                       80 
TVPlayer Limited                                           77 
                                                        4,402 
 
 
 
   Investment disposals 
 
 
 
 
                                 Market                      Gain    Realised 
                                 value at        Disposal   against   gain in 
                     Cost    1 September 2016    proceeds    cost     period 
                   GBP'000       GBP'000        GBP'000    GBP'000   GBP'000 
Celoxica Limited        46                 46          46         -         - 
                        46                 46          46         -         - 
 
 
 
 
 
 
 
                                                              Ordinary 
                                                               Shares 
Changes to share capital                                     of 10p each 
As at 1 September 2016                                        98,633,058 
Ordinary Shares bought back during the 3 months to 
 30 November 2016                                              (215,394) 
Ordinary Shares issued during the 3 months to 30 November 
 2016                                                                  - 
As at 30 November 2016                                        98,417,664 
 
 
 
 
   In the period from 1 December 2016 to the date of this announcement, 
45,438 Ordinary Shares were repurchased and subsequently cancelled and 
349,817 Ordinary Shares were issued under the terms of the Company's 
Dividend Reinvestment Scheme in respect of the dividend of 2.5p per 
Ordinary Share paid on 16 December 2016. 
 
   Material events 
 
   Other than the matters described above, there were no material events 
during the period from 1 September 2016 to 30 November 2016 or in the 
period from 1 December 2016 to the date of this announcement. 
 
   Further information 
 
   Further information regarding the Company, can be found on Beringea's 
dedicated VCT website: www.provenvcts.co.uk or by contacting Beringea, 
the Investment Manager at provenvcts@beringea.co.uk or by telephone 020 
7845 7820. 
 
 
 
   Beringea LLP 
 
   Company Secretary 
 
   Telephone 020 7845 7820 
 
   -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

January 23, 2017 12:58 ET (17:58 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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