Proven Growth & Inc. Proven Growth And Income Vct Plc: Interim Management Statement
28 Enero 2019 - 9:04AM
UK Regulatory
TIDMPGOO
ProVen Growth & Income VCT plc
Interim Management Statement
for the three months ended 30 November 2018
ProVen Growth & Income VCT plc (the "Company") presents an Interim
Management Statement for the three month period ended 30 November 2018.
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 28 February
2018 2018 2018 2018
Pence Pence Pence Pence
Net Asset Value per share ("NAV") 68.3 74.3 74.5 72.1
Dividends paid/ declared since class launch (originally
as 'C' Shares)* 60.9 56.4 54.4 54.4
Total Return (NAV plus dividends paid/ declared since
'C' Share class launch) 129.2 130.7 128.9 126.5
* Dividends paid represents dividends paid in respect of the Original
'C' Shares between their launch in 2006 up until their conversion in
2009 and as Ordinary Shares since the 'C' Share conversion. 'C' Shares
were converted into Ordinary Shares on a one for one basis in 2009.
Dividends paid or declared
On 24 October 2018, the Company announced a special interim dividend for
the year ending 28 February 2019 of 4.5p per share. This dividend was
paid on 30 November 2018 to shareholders on the register at 2 November
2018.
Investment portfolio summary at 30 November 2018
Valuation
GBP'000
Venture capital investments
Zuvoo Limited (t/a Smart Assistant) 5,648
Chess Technologies Limited 5,413
Dryden Holdings Limited 4,761
Poq Studio Limited 4,598
Infinity Reliance Limited (t/a My 1(st) Years) 3,984
Sealskinz Holdings Limited 3,426
Blis Media Limited 3,300
D30 Holdings Limited 3,139
InContext Solutions, Inc. 2,619
Response Tap Limited 2,435
Other investments 25,258
64,581
Cash at bank 32,856
---------
Total 97,437
=========
Quoted investments are valued at the closing bid price at 30 November
2018, 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 2018
Investment additions
GBP'000
Festicket Limited 1,392
Zuvoo Limited (t/a Smart Assistant) 933
Written Byte Limited (t/a DeepCrawl) 600
MPB Group Limited 66
InContext Solutions, Inc. 46
3,037
=======
Investment disposals
There were no disposals in the period.
Investment activity from 1 December 2018 to the date of this
announcement
Investment additions
GBP'000
Access Systems, Inc. 1,500
Exonar Limited 1,070
Disposable Cubicle Curtains Limited 287
MPB Group Limited 66
Thread, Inc. 45
2,968
===========================================
Investment disposals
Gain Realised
Market Disposal against gain
Cost value at 1 September 2018 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Chess
Technologies
Limited 1,568 5,101 5,412 3,844 311
1,568 5,101 5,412 3,844 311
======= ========================== ========== ======== ==========
Changes to share capital
Ordinary
Shares of
1.6187p each
As at 1 September 2018 143,557,292
Shares bought back during the 3 months to 30 November
2018 (170,308)
Shares issued during the 3 months to 30 November 2018
(under the terms of the Company's dividend reinvestment
scheme) 1,387,397
As at 30 November 2018 144,774,381
============
In the period from 1 December 2018 to the date of this announcement,
250,000 Ordinary Shares were repurchased and subsequently cancelled.
Material events
ProVen VCT plc and ProVen Growth and Income VCT plc (the "Companies")
announced on 11 January 2019 that they had published a Prospectus
(comprising Securities Note, Registration Document and Summary) in
respect of a combined offer for subscription to raise up to
GBP60,000,000 by way of an issue of new ordinary shares in the Companies,
with an over-allotment facility of up to a further GBP20,000,000 payable
in full in cash on application.
Other than the matters described above, there were no other material
events during the period from 1 September 2018 to 30 November 2018 or in
the period from 1 December 2018 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
January 28, 2019 10:04 ET (15:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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