ProVen VCT plc: Interim Management Statement
ProVen VCT plc
Interim Management Statement
for the three months ended 31 May 2020ProVen VCT plc (the “Company”) presents an Interim Management Statement for the three month period ended 31 May 2020. The statement also includes relevant financial information between the end of the period and the date of this announcement.Performance*Dividends paid represent dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in October 2012. Prior to this date, the Company paid dividends totalling 113.95p on the 5p Ordinary Shares.Dividends paid or declared
On 2 July 2020, the Company announced a final dividend for the year ended 29 February 2020 of 2.0p per share. Having received approval at the Annual General Meeting of the Company on 10 August 2020, the dividend will be paid on 28 August 2020 to Shareholders on the register at 7 August 2020.Investment portfolio summary at 31 May 2020Portfolio summaryQuoted investments are valued at the closing bid price at 31 May 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 31 May 2020Investment additionsInvestment disposalsInvestment activity from 1 June 2020 to the date of this announcementInvestment disposals from 1 June 2020 to the date of this announcement* Disposal proceeds represent contingent proceeds.In the period from 1 June 2020 to the date of this announcement, 630,346 Ordinary Shares were repurchased and subsequently cancelled.Material events
In light of the evolving situation regarding COVID-19, the Board of ProVen VCT plc (the “Company”) carried out a review of the portfolio and announced on 23 March 2020 that the unaudited net asset value of the Company was 65.1p per share. This was based on the unaudited net asset value of the Company as at 20 March 2020.Other than the matters described above, there were no material events during the period from 1 March 2020 to 31 May 2020 or in the period from 1 June 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
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Interim Management Statement
for the three months ended 31 May 2020ProVen VCT plc (the “Company”) presents an Interim Management Statement for the three month period ended 31 May 2020. The statement also includes relevant financial information between the end of the period and the date of this announcement.Performance*Dividends paid represent dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in October 2012. Prior to this date, the Company paid dividends totalling 113.95p on the 5p Ordinary Shares.Dividends paid or declared
On 2 July 2020, the Company announced a final dividend for the year ended 29 February 2020 of 2.0p per share. Having received approval at the Annual General Meeting of the Company on 10 August 2020, the dividend will be paid on 28 August 2020 to Shareholders on the register at 7 August 2020.Investment portfolio summary at 31 May 2020Portfolio summaryQuoted investments are valued at the closing bid price at 31 May 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 31 May 2020Investment additionsInvestment disposalsInvestment activity from 1 June 2020 to the date of this announcementInvestment disposals from 1 June 2020 to the date of this announcement* Disposal proceeds represent contingent proceeds.In the period from 1 June 2020 to the date of this announcement, 630,346 Ordinary Shares were repurchased and subsequently cancelled.Material events
In light of the evolving situation regarding COVID-19, the Board of ProVen VCT plc (the “Company”) carried out a review of the portfolio and announced on 23 March 2020 that the unaudited net asset value of the Company was 65.1p per share. This was based on the unaudited net asset value of the Company as at 20 March 2020.Other than the matters described above, there were no material events during the period from 1 March 2020 to 31 May 2020 or in the period from 1 June 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
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