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| 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 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Investors, Nec | -9.88M | -13.83M | -0.0533 | -11.16 | 154.26M |
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ProVen VCT plc
Interim Management Statement
for the three months ended 31 May 2020
ProVen VCT plc (the "Company") presents an Interim Management Statement
for the three month period ended 31 May 2020. The statement also
includes relevant financial information between the end of the period
and the date of this announcement.
Performance
Unaudited Audited
31 May 29 February
2020 2020
Pence Pence
Net Asset Value per share ("NAV") 68.0 70.1
Dividends paid to date* 68.25 68.25
NAV plus dividends paid to date 136.25 138.35
*Dividends paid represent dividends paid since the consolidation of 5p
Ordinary Shares into 10p Ordinary Shares in October 2012. Prior to this
date, the Company paid dividends totalling 113.95p on the 5p Ordinary
Shares.
Dividends paid or declared
On 2 July 2020, the Company announced a final dividend for the year
ended 29 February 2020 of 2.0p per share. Having received approval at
the Annual General Meeting of the Company on 10 August 2020, the
dividend will be paid on 28 August 2020 to Shareholders on the register
at 7 August 2020.
Investment portfolio summary at 31 May 2020
Portfolio summary
Valuation
Venture capital investments GBP'000
Infinity Reliance Limited (t/a My 1(st) Years) 6,448
Mycs GmbH 5,809
Litchfield Media Limited 4,069
Thread, Inc. 3,775
Zoovu Limited (t/a Smart Assistant) 3,748
Access Systems, Inc. 3,500
Monica Vinader Limited 3,357
MPB Group Limited 3,103
ContactEngine Limited 2,976
Written Byte Limited (t/a DeepCrawl) 2,890
Other investments 29,005
68,680
Cash at bank 46,914
Other net current assets 369
Net Assets 115,963
=========
Quoted investments are valued at the closing bid price at 31 May 2020,
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 31 May 2020
Investment additions
GBP'000
Commonplace Digital Limited 1,500
Luxury Promise Limited 1,350
Sannpa Limited (t/a Fnatic) 772
Thread, Inc. 421
4,043
=======
Investment disposals
Gain Realised
Market Disposal against loss
Cost value at 1 March 2020 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
SPC
International
Ltd 58 546 544 486 (2)
58 546 544 486 (2)
======= ====================== ========== ======== ==========
Investment activity from 1 June 2020 to the date of this announcement
GBP'000
ContactEngine Limited 125
Social Value Portal Ltd 1,500
1,625
=======
Investment disposals from 1 June 2020 to the date of this announcement
Gain Realised
Market Disposal against gain
Cost value at 1 June 2020 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
MEL Topco
Limited (t/a
Maplin)* - - 34 34 34
Chargemaster
plc* - - 165 165 165
- - 199 199 199
======= ===================== ========== ======== ==========
* Disposal proceeds represent contingent proceeds.
Ordinary
Shares
Changes to share capital of 10p each
As at 1 March 2020 150,278,338
Shares bought back during the 3 months to 31 May 2020 (48,572)
Shares issued during the 3 months to 31 May 2020 20,351,020
As at 31 May 2020 170,580,786
============
In the period from 1 June 2020 to the date of this announcement, 630,346
Ordinary Shares were repurchased and subsequently cancelled.
Material events
In light of the evolving situation regarding COVID-19, the Board of
ProVen VCT plc (the "Company") carried out a review of the portfolio and
announced on 23 March 2020 that the unaudited net asset value of the
Company was 65.1p per share. This was based on the unaudited net asset
value of the Company as at 20 March 2020.
Other than the matters described above, there were no material events
during the period from 1 March 2020 to 31 May 2020 or in the period from
1 June 2020 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
(END) Dow Jones Newswires
August 13, 2020 10:04 ET (14:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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