Proven Growth & Inc. Correction: Proven Growth And Income Vct Plc: Interim Management Statement
10 Febrero 2023 - 9:39AM
UK Regulatory
TIDMPGOO
ProVen Growth and Income VCT plc
Interim Management Statement
for the nine months ended 30 November 2022
ProVen Growth and Income VCT plc (the "Company") presents an
Interim Management Statement for the nine-month period ended 30
November 2022. 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
2022 2022 2022 2022
Pence Pence Pence Pence
Net Asset Value per share ("NAV") 55.3 57.7 64.2 67.3
Dividends paid to date since class launch (originally
as 'C' Shares)* 73.9 73.9 70.7 70.7
NAV plus dividends paid to date 129.2 131.6 134.9 138.0
* 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 12 October 2022, the Company announced an interim dividend
for the year ended 28 February 2023 of 1.5p per share. This
dividend was paid on 2 December 2022 to shareholders on the
register at 11 November 2022.
Investment portfolio summary at 30 November 2022
Portfolio summary
Valuation
Venture capital investments GBP'000
Picasso Labs, Inc. (t/a CreativeX) 10,509
Luxury Promise Limited 10,263
Papier Ltd 5,566
MPB Group Limited 4,668
DeepCrawl Holding Company, Inc. 4,560
Social Value Portal Ltd 4,544
Been There Done That Global Limited 4,526
Infinity Reliance Limited (t/a My 1st Years) 4,004
Second Nature Healthy Habits Ltd 3,979
WS HoldCo, PBC. (t/a WiredScore) 3,629
Other investments 54,377
---------
Total investments 110,625
Cash at bank 46,289
Other net current assets 3,296
Net Assets 160,210
=========
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 2022
Investment additions
GBP'000
Gorillini NV (t/a Gorilla) 1,949
Doctify Limited 1,778
Plu&m Limited (t/a Plum Guide) 88
3,815
=======
Investment disposals
Gain Realised
Market Disposal against gain
Cost value at 1 September 2022 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Sealskinz
Holdings
Limited 3,116 3,116 3,882 766 766
Lupa Foods
Limited* 99 128 128 29 -
3,215 3,244 4,010 795 766
======= ========================== ========= ======== ==========
*Loan note disposal
Investment activity from 1 December 2022 to the date of this
announcement
Investment additions
GBP'000
Dash Brands Ltd 3,282
Litta App Limited 990
Arctic Shores Limited 459
Commonplace Digital Limited 370
5,101
===============
Investment disposals
Gain / (loss) Realised
Market Disposal against Gain / (loss)
Cost value at 1 December 2022 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Firefly
Learning
Limited 857 873 721 (136) (152)
857 873 721 (136) (152)
======= ========================= ========= ============= ==============
Ordinary
Shares
Changes to share capital of 1.6187p each
As at 1 September 2022 292,033,361
Shares bought back during the 3 months to 30 November
2022 (2,198,874)
Shares issued during the 3 months to 30 November 2022 -
As at 30 November 2022 289,834,487
================
In the period from 1 December 2022 to the date of this
announcement, 420,961 Ordinary Shares were repurchased and
subsequently cancelled.
In addition, 1,204,204 Ordinary Shares were issued under the
Company's Dividend Reinvestment Scheme ("DRIS") in relation to the
dividend paid on 2 December 2022.
Material events
In February 2023, the Company agreed to the sale of portfolio
company Aistemos Limited to RELX plc. The transaction is subject to
customary regulatory approvals and is expected to be completed
during the first quarter of 2023.
Other than the matters described above, there were no material
events during the period from 1 September 2022 to 30 November 2022
or in the period from 1 December 2022 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
February 10, 2023 10:39 ET (15:39 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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