PVN Proven Vct Plc

 
TIDMPVN 
 
   ProVen VCT plc 
 
   ProVen Growth and Income VCT plc 
 
   28 March 2019 
 
   Announcement of Intention to Utilise Over-Allotment Facility 
 
   On 11 January 2019, ProVen VCT plc and ProVen Growth and Income VCT plc 
(the "Companies") launched an offer for subscription to raise up to 
GBP60.0 million by way of an issue of new ordinary shares ("New Ordinary 
Shares") in the Companies, with an over-allotment facility of up to a 
further GBP20.0 million, payable in full in cash on application (the 
"Offer"). Full details of the Offer are contained in a prospectus 
(comprising a Securities Note, Registration Document and Summary ("the 
Prospectus")), which was published by the Companies on 11 January 2019. 
 
   Under the terms and conditions of the Offer, as set out in the 
Prospectus, the directors of the Companies have the ability (at their 
discretion), if their respective Offer is oversubscribed, to increase 
the number of Shares available for subscription under the Offer to raise 
further amounts under the Offer of up to GBP10.0 million in each 
Company. 
 
   Each of the Companies expects to reach the full GBP30.0 million capacity 
under their respective Offer shortly. Accordingly the directors of both 
Companies are pleased to announce that they intend to utilise their 
respective GBP10.0 million over-allotment facility. 
 
   The Offer opened on 11 January 2019 and will close not later than 1.00 
pm on 5 April 2019 in respect of the 2018/2019 Offer and not later than 
1.00 pm on 30 April 2019 in respect of the 2019/2020 Offer, or as soon 
as the Offer is fully subscribed. The directors of each of the Companies 
may decide to extend the Offer in respect of their Company at their 
absolute discretion to a date no later than 10 January 2020. 
 
   To obtain a copy of the Securities Note private investors and Financial 
Advisers should call the investment manager, Beringea, on 020 7845 7820. 
A downloadable version of the Securities Note is also available from 
https://www.globenewswire.com/Tracker?data=Ou-RiL6fvUVacvEgDV5a_Pd3y66pYpy7MYjWq9hN2im5Z-vFb6HBM08IZb5cb0eLF-ktsonBYYTqWa7bCrjTqCP8O39MwTkQIXbENGco7ps= 
www.provenvcts.co.uk. A copy of the Prospectus is available, free of 
charge, from the registered office of the Company or from: 
 
   Beringea LLP 
 
   39 Earlham Street 
 
   London WC2H 9LT 
 
   For further information please contact: 
 
   Shane Elliott on 020 7845 7820 
 
   Beringea LLP 
 
   Company Secretary 
 
   Telephone 020 7845 7820 
 
 
 
 

(END) Dow Jones Newswires

March 28, 2019 12:20 ET (16:20 GMT)

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