Proven Growth Regulatory News (PGOO)

8 Aug 2006 09:07

Proven Growth & Income VCT PLC08 August 2006 PROVEN GROWTH & INCOME VCT PLC ("PGI")8 August 2006 Proven Growth and Income VCT portfolio company, Mergermarket Limited, has signeda conditional sale and purchase agreement to sell 100% of its issued sharecapital to The Financial Times Group, a subsidiary of Pearson plc. The terms agreed with The Financial Times Group value PGI's investment atapproximately £2.4 million more than the valuation of Mergermarket included inthe accounts of PGI for the year to 28 February 2006. This equates to anincrease of c. 37.9p per PGI Ordinary Share, based on the number of OrdinaryShares in issue at 28 February 2006. The revised pro-forma net asset value perPGI Ordinary Share at 28 February 2006, after adjusting only for theMergermarket revaluation, is c. 172.2p and c. 168.7p per PGI Ordinary Shareafter additionally adjusting for the dividend paid on 14 July 2006. The net asset value of the PGI 'C' Shares is unaffected by this transaction. This information is provided by RNS The company news service from the London Stock Exchange