TIDMPGOO 
 
   ProVen Growth & Income VCT plc 
 
   Interim Management Statement 
 
   for the three months ended 30 November 2020 
 
   ProVen Growth & Income VCT plc (the "Company") presents an Interim 
Management Statement for the three month period ended 30 November 2020. 
The statement also includes relevant financial information between the 
end of the period and the date of this announcement. 
 
   Performance 
 
 
 
 
                                                         Unaudited                     Unaudited    Audited 
                                                         30 November     Unaudited       31 May    29 February 
                                                            2020       31 August 2020     2020        2020 
                                                           Pence           Pence         Pence       Pence 
Net Asset Value per share ("NAV")                               57.2             55.3       56.2          58.6 
Dividends paid since class launch (originally as 'C' 
 Shares)*                                                      67.65            66.15       64.4          64.4 
Total Return (NAV plus dividends paid since 'C' Share 
 class launch)                                                124.85           121.45      120.6         123.0 
 
 
   * 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 29 October 2020, the Company announced an interim dividend for the 
year ended 28 February 2021 of 1.5p per share. This dividend was paid on 
4 December 2020 to shareholders on the register at 13 November 2020. 
 
   Investment portfolio summary at 30 November 2020 
 
   Portfolio summary 
 
 
 
 
                                                 Valuation 
Venture capital investments                       GBP'000 
Zoovu Limited (t/a Smart Assistant)                  8,594 
Sannpa Limited *t/a Fnatic)                          6,912 
ContactEngine Limited                                5,767 
Mycs GmbH                                            5,486 
Dryden Holdings Limited                              4,760 
Infinity Reliance Limited (t/a My 1(st) Years)       4,619 
Written Byte Ltd (t/a DeepCrawl)                     4,441 
Thread, Inc.                                         3,972 
Papier Ltd                                           3,458 
Our Path Ltd (t/a Second Nature)                     2,983 
Other investments                                   41,345 
                                                    92,337 
Cash at bank                                        35,110 
Other net current liabilities                          223 
 
Net Assets                                         127,670 
                                                 ========= 
 
 
   Quoted investments are valued at the closing bid price at 30 November 
2020, 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 2020 
 
   Investment additions 
 
 
 
 
                                       GBP'000 
Written Byte Limited (t/a DeepCrawl)     1,930 
Papier Ltd                                 308 
Thread, Inc.                               250 
Poq Studio Limited                         150 
                                         2,638 
                                       ======= 
 
 
   Investment disposals 
 
 
 
 
                                                                      Gain     Realised 
                                      Market              Disposal   against     loss 
                     Cost    value at 1 September 2020    proceeds    cost     in period 
                   GBP'000           GBP'000             GBP'000    GBP'000    GBP'000 
Written Byte 
 Limited (t/a 
 DeepCrawl)*           246                         492         483       237         (9) 
 
                       246                         492         483       237         (9) 
                   =======  ==========================  ==========  ========  ========== 
 
   *Part-disposal of shares, which completed at the same time as the 
follow-on investment in the same company. The transaction was structured 
in this way in order to strengthen the Company's overall position as a 
shareholder in the company. 
 
   Investment activity from 1 December 2020 to the date of this 
announcement 
 
 
 
 
 
 
 
 
                 GBP'000 
Exonar Limited       517 
                     517 
                 ======= 
 
 
   Investment disposals 
 
   There were no investment disposals in the period from 1 December 2020 to 
the date of this announcement. 
 
 
 
 
                                                            Ordinary 
                                                             Shares 
Changes to share capital                                 of 1.6187p each 
As at 1 September 2020                                       223,886,810 
Shares bought back during the 3 months to 30 November 
 2020                                                          (573,067) 
Shares issued during the 3 months to 30 November 2020                  - 
As at 30 November 2020                                       223,313,743 
                                                        ================ 
 
 
   In the period from 1 December 2020 to the date of this announcement, 
604,344 Ordinary Shares were repurchased and subsequently cancelled. 
 
   In addition, 964,664 Ordinary Shares were issued under the Company's 
Dividend Reinvestment Scheme in relation to the dividend paid on 4 
December 2020. 
 
   Material events 
 
   ProVen VCT plc and ProVen Growth and Income VCT plc (the "Companies") 
announced on 3 December 2020 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 
GBP40,000,000 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 material events 
during the period from 1 September 2020 to 30 November 2020 or in the 
period from 1 December 2020 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 20, 2021 10:26 ET (15:26 GMT)

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