ProVen VCT Posts Small Net Asset Value Per Share Drop

Tue, 21st Oct 2014 17:08

LONDON (Alliance News) - ProVen VCT PLC Tuesday said its net asset value per share stood at 97.9 pence at the end of August, a small decrease of 0.7p per share, or 0.7%, since the year end after adjusting for the total dividends of 5.0p per share paid during the period.

The VCT was reporting on the six months ended August 31.

"Following the major realisations that have occurred in recent years, such as Steak Media and Espresso Group, the manager continues to focus on replenishing the portfolio with new investments, while continuing to pursue exit opportunities for some of the more mature investments in the portfolio," ProVen VCT said in a statement.

"Good progress on new investments has been made to this end in the first half of the year and, with the manager continuing to report a strong pipeline of potential investment opportunities, the board expects to see further additions over the remainder of the year. The existing portfolio includes a number of investments which are developing well and which, with the benefit of improving economic conditions, may be able to provide profitable realisations in due course," ProVen VCT said.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Proven Vct