Proven Growth & Inc. Proven Growth And Income Vct Plc: Interim Management Statement
05 Julio 2019 - 5:41AM
UK Regulatory
TIDMPGOO
ProVen Growth & Income VCT plc
Interim Management Statement
for the three months ended 31 May 2019
ProVen Growth & Income VCT plc (the "Company") presents an Interim
Management Statement for the three month period ended 31 May 2019. The
statement also includes relevant financial information between the end
of the period and the date of this announcement.
Performance
Unaudited Audited
31 May 28 February
2019 2019
Pence Pence
Net Asset Value per share ("NAV") 67.2 68.4
Dividends paid since class launch (originally as 'C'
Shares)* 60.9 60.9
Total Return (NAV plus dividends paid since 'C' Share
class launch) 128.1 129.3
* 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 31 May 2019, the Company announced a final dividend for the year
ended 28 February 2019 of 2.0p per share. Having received approval at
the Annual General Meeting of the Company on 3 July 2019, the dividend
will be paid on 19 July 2019 to shareholders on the register at 21 June
2019.
Investment portfolio summary at 31 May 2019
Portfolio summary
Valuation
Venture capital investments GBP'000
Zoovu Limited 6,325
Dryden Holdings Limited 4,761
Sealskinz Holdings Limited 4,379
Poq Studio Limited 4,036
D3O Holdings Ltd 3,884
Blis Media Limited 3,552
Infinity Reliance Limited (t/a My 1(st) Years) 3,543
Sannpa Limited (t/a Fnatic) 2,839
Mycs GmbH 2,520
Response Tap Limited 2,444
Other investments 27,127
Total investments 65,410
Cash at bank 56,398
Other net current liabilities (353)
Net Assets 121,455
Quoted investments are valued at the closing bid price at 31 May 2019,
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 2019
Investment additions
GBP'000
Sannpa Limited (t/a Fnatic) 2,839
Mycs GmbH 1,246
4,085
=======
Investment disposals
Gain) Realised
Market Disposal against gain
Cost value at 1 March 2019 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Skills
Matter
Limited* 68 - 68 - 68
68 - 68 - 68
======= ====================== ========== ======== ==========
*Loan note repayment.
Investment activity from 1 June 2019 to the date of this announcement
There were no investment additions in the period from 1 June 2019 to the
date of this announcement.
Investment disposals
Loss Realised
Market Disposal against loss
Cost value at 1 March 2019 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
7digital
Group plc 400 1 - (400) (1)
400 1 - (400) (1)
======= ====================== ========== ======== ==========
Ordinary
Shares
Changes to share capital of 1.6187p each
As at 1 March 2019 144,047,261
Shares bought back during the 3 months to 31 May 2019 -
Shares issued during the 3 months to 31 May 2019 36,598,021
As at 31 May 2019 180,645,282
================
The Company issued 36,598,021 shares under an offer for subscription
(the "Offer") dated 11 January 2019. Full details of the Offer were
contained in a prospectus (comprising a Securities Note, Registration
Document and Summary), which was published on 11 January 2019.
Following the release of the annual financial statements to 28 February
2019, the Company published a supplementary prospectus for the Offer on
13 June 2019. In the period from 1 June 2019 to the date of this
announcement, a further 3,840,194 shares were issued under the Offer.
In the period from 1 June 2019 to the date of this announcement, 400,000
Ordinary Shares were repurchased and subsequently cancelled.
Material events
Other than the matters described above, there were no material events
during the period from 1 March 2019 to 31 May 2019 or in the period from
1 June 2019 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
July 05, 2019 06:41 ET (10:41 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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