Proven Growth & Inc. Proven Growth And Income Vct Plc: Interim Management Statement
15 Julio 2021 - 10:44AM
UK Regulatory
TIDMPGOO
ProVen Growth & Income VCT plc
Interim Management Statement
for the three months ended 31 May 2021
ProVen Growth & Income VCT plc (the "Company") presents an
Interim Management Statement for the three month period ended 31
May 2021. 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
2021 2021
Pence Pence
Net Asset Value per share ("NAV") 63.3 61.5
Dividends paid since class launch (originally as 'C'
Shares)* 67.65 67.65
Total Return (NAV plus dividends paid since 'C' Share
class launch) 130.95 129.15
* 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 7 June 2021, the Company announced a final dividend for the
year ended 28 February 2021 of 1.5p per share. Having received
approval at the Annual General Meeting of the Company on 14 July
2021, the dividend will be paid on 30 July 2021 to Shareholders on
the register at 9 July 2021.
Investment portfolio summary at 31 May 2021
Portfolio summary
Valuation
Venture capital investments GBP'000
Zoovu Limited (t/a Smart Assistant) 9,603
Blis Media Limited 8,684
ContactEngine Limited 6,872
Sannpa Limited (t/a Fnatic) 6,661
Mycs GmbH 5,996
Infinity Reliance Limited (t/a My 1st Years) 4,841
Written Byte Ltd (t/a DeepCrawl) 4,338
Luxury Promise Limited 3,948
Thread, Inc. 3,912
Been There Done That Global Limited 3,689
Other investments 48,735
107,279
Cash at bank 53,526
Other net current liabilities (149)
Net Assets 160,656
=========
Quoted investments are valued at the closing bid price at 31 May
2021, 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
2021
Investment additions
GBP'000
Utilis SAR Ltd 2,144
Moonshot CVE Holdings Ltd 1,112
Hygenica Limited 276
3,532
=======
Investment disposals
(Loss)/gain Realised
Market Disposal against (loss)/gain
Cost value at 1 March 2021 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Response Tap
Limited* 1,440 1,446 1,252 (188) (194)
MPB Group
Limited 295 604 815 520 211
Chargemaster
plc** - - 4 4 4
1,735 2,050 2,071 336 21
======= ====================== ========= =========== ============
*Disposal proceeds include amounts accrued in addition to cash
proceeds already received in the period.
** Disposal proceeds represent contingent proceeds.
Investment activity from 1 June 2021 to the date of this
announcement
GBP'000
Zoovu Limited (t/a Smart Assistant) 641
641
=======
Investment disposals
Gain Realised
Market Disposal against loss
Cost value at 1 June 2021 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
ContactEngine
Limited 2,455 6,872 6,758 4,303 (114)
2,455 6,872 6,758 4,303 (114)
======= ===================== ========= ======== ==========
Ordinary
Shares
Changes to share capital of 1.6187p each
As at 1 March 2021 222,333,613
Shares bought back during the 3 months to 31 May 2021 (274,661)
Shares issued during the 3 months to 31 May 2021 31,760,207
As at 31 May 2021 253,819,159
================
In the period from 1 June 2021 to the date of this announcement,
752,213 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 2021 to 31 May 2021 or in the
period from 1 June 2021 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 15, 2021 11:44 ET (15:44 GMT)
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