Proven Growth & Inc. Proven Growth And Income Vct Plc: Interim Management Statement
20 Enero 2021 - 9:26AM
UK Regulatory
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)
Copyright (c) 2021 Dow Jones & Company, Inc.
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