PGOO Proven Growth & Income Vct Plc

 
TIDMPGOO 
 
   ProVen VCT plc 
 
   ProVen Growth and Income VCT plc 
 
   24 February 2020 
 
   Announcement of Intention to Utilise Over-Allotment Facility 
 
   On 27 January 2020, ProVen VCT plc and ProVen Growth and Income VCT plc 
(the "Companies") launched an offer for subscription to raise up to 
GBP20.0 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 (being up to GBP10.0 million for each Company), 
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 27 January 2020. 
 
   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 GBP10.0 million capacity 
under their respective Offer. Accordingly the directors of both 
Companies are pleased to announce that they intend to utilise part of 
their respective over-allotment facility, in the amount of GBP5.0 
million for each Company. 
 
   The Offer opened on 27 January 2020 and will close not later than 5.00 
pm on 2 April 2020 in respect of the 2019/2020 Offer and not later than 
1.00 pm on 30 April 2020 in respect of the 2020/2021 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 31 December 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 (and the entire 
Prospectus) is also available from 
https://www.globenewswire.com/Tracker?data=GnmMy_0kMrXBY96XFRJolsZu37lClc1fznnVlkXIdlB1wZLVebbVNpLCR5rrB3mssdxjiG3jC_ERD3IWKs_PZnABuA6GK22SizR50N9sUzE= 
www.provenvcts.co.uk. A copy of the Prospectus is also 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

February 24, 2020 04:30 ET (09:30 GMT)

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