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)

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