Proven VCT plc Proven Vct Plc: Interim Management Statement
28 Enero 2019 - 09:07AM
UK Regulatory
TIDMPVN
ProVen VCT plc
Interim Management Statement
for the three months ended 30 November 2018
ProVen 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") 83.3 108.9 114.2 99.7
Dividends paid/ declared per share since conversion/
consolidation* 63.75 38.5 36.0 36.0
Total Return (NAV plus dividends paid/ declared*) 147.1 147.4 150.2 135.7
*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 24 October 2018, the Company announced a special interim dividend for
the year ending 28 February 2019 of 25.25p 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
Portfolio summary
Valuation
Venture capital investments GBP'000
Infinity Reliance Limited (t/a My 1(st) Years) 6,150
Poq Studio Limited 5,402
Zuvoo Limited (t/a Smart Assistant) 4,892
Litchfield Media Limited 4,201
Rapid Charge Grid Limited 3,909
Monica Vinader Limited 3,679
Chess Technologies Limited 3,609
Mycs GmbH 3,551
Festicket Limited 3,248
InContext Solutions, Inc. 3,241
Other investments 27,126
69,008
Cash at bank 19,512
---------
Total 88,520
=========
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 3,248
Zuvoo Limited (t/a Smart Assistant) 2,177
Written Byte Limited (t/a Deep Crawl) 1,400
InContext Solutions, Inc. 442
MPB Group Limited 184
7,451
=======
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
Think
Limited 2,757 6,129 7,769 5,012 1,640
2,757 6,129 7,769 5,012 1,640
======= ========================== ========== ======== ==========
Investment activity from 1 December 2018 to the date of this
announcement
Investment additions
GBP'000
Access Systems, Inc. 3,500
Exonar Limited 2,496
Disposable Cubicle Curtains Limited 670
MPB Group Limited 184
Thread, Inc. 105
6,955
=======
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 1,045 3,400 3,608 2,563 208
1,045 3,400 3,608 2,563 208
======= ========================== ========== ======== ==========
Ordinary
Shares
Changes to share capital of 10p each
As at 1 September 2018 101,257,111
Shares bought back during the 3 months to 30 November
2018 (160,835)
Shares issued during the 3 months to 30 November 2018
(under the terms of the Company's dividend reinvestment
scheme) 4,571,458
As at 30 November 2018 105,667,734
===========
In the period from 1 December 2018 to the date of this announcement,
264,521 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 10:07 ET (15:07 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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