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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