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Pin to quick picksProven Vct Regulatory News (PVN)

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ProVen VCT is an Investment Trust

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ProVen VCT plc: Interim Management Statement

22 Dec 2023 09:36

ProVen VCT plc: Interim Management Statement

ProVen VCT plcInterim Management Statement for the nine months ended 30 November 2023

ProVen VCT plc (the “Company”) presents an Interim Management Statement for the nine-month period ended 30 November 2023. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

 Unaudited30 November2023Unaudited31 August2023Unaudited31 May2023Audited28 February2023
 PencePencePencePence
Net Asset Value per share (“NAV”)65.062.764.365.5
Dividends paid to date*82.7582.7580.7580.75
NAV plus dividends paid to date147.75145.45145.05146.25

*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 declaredOn 7 November 2023, the Company announced an interim dividend for the year ended 28 February 2024 of 1.5p per share. This dividend was paid on 15 December 2023 to shareholders on the register at 17 November 2023. The payment of this dividend will reduce the NAV shown above of 65.0p at 30 November 2023 to 63.5p per share.

Investment portfolio summary at 30 November 2023

 Cost£'000Valuation£'000
Luxury Promise Limited5,6809,202
MPB Group Limited1,6848,259
Infinity Reliance Limited (t/a My 1st Years)4,7316,987
Gorillini NV (t/a Gorilla)2,4375,985
Social Value Portal Ltd2,4584,787
Picasso Labs, Inc. (t/a CreativeX)2,7294,618
Access Systems, Inc. (t/a Access Pay)3,7374,121
Utilis Israel Ltd (t/a Asterra)1,8094,023
DeepCrawl Holding Company, Inc. (t/a Lumar)3,8273,959
Dealroom.co B.V.2,7073,787
WS HoldCo, PBC. (t/a WiredScore)3,7333,660
Lupa Foods Limited6943,343
Dash Brands Ltd2,7183,247
Not Another Beer Co Ltd (t/a Lucky Saint)2,7972,797
Chattermill Analytics Limited2,7932,793
Papier Ltd2,7702,770
Litchfield Media Limited1,4052,739
Yardlink Ltd2,6802,680
Moonshot CVE Ltd1,3882,385
Doctify Limited2,2222,222
Other venture capital investments52,91426,170
Total venture capital investments107,913110,534
Cash at bank and in hand 56,085
Other net current assets 1,227
Net assets 167,846

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 2023

Investment additions

 £’000
MOTH Drinks Ltd84
 84
  
  

There has been no investment activity in the period from 1 December 2023 to the date of this announcement.

Changes to share capitalOrdinarySharesof 10p each
As at 1 September 2023259,258,564
Shares bought back during the 3 months to 30 November 2023(1,143,648)
Shares issued during the 3 months to 30 November 2023-
As at 30 November 2023258,114,916

In the period from 1 December 2023 to the date of this announcement, 1,075,458 Ordinary Shares were issued under the Company’s Dividend Reinvestment Scheme (“DRIS”) in relation to the dividend paid on 15 December 2023.

Material eventsOther than the matters described above, there were no material events during the period from 1 September 2023 to 30 November 2023 or in the period from 1 December 2023 to the date of this announcement.

Further informationFurther information regarding the Company can be found on Beringea's dedicated VCT website: www.proveninvestments.co.uk or by contacting Beringea, the Investment Manager at provenvcts@beringea.co.uk or by telephone 020 7845 7820.

Beringea LLPCompany SecretaryTelephone 020 7845 7820-End

Date   Source Headline
10th Feb 20233:21 pmGNWProVen VCT plc: Interim Management Statement
3rd Jan 202312:04 pmGNWProVen VCT plc: Total voting rights
21st Dec 20221:38 pmGNWProVen VCT plc: Transaction in Own Shares
2nd Dec 20221:09 pmGNWProVen VCT plc: Director/PDMR Shareholding
2nd Dec 20221:07 pmGNWProVen VCT plc: Issue of Equity
2nd Dec 202212:00 pmGNWProVen VCT plc: Total voting rights
2nd Dec 202211:57 amGNWProVen VCT plc: Transaction in Own Shares
24th Oct 20224:34 pmGNWProVen VCT plc: Transaction in Own Shares
19th Oct 20222:21 pmGNWProVen VCT plc: Statement re. Offer for Subscription
12th Oct 20225:45 pmGNWProVen VCT plc: Doc re. Half-Yearly Report to 31 August 2022
12th Oct 20225:43 pmGNWProVen VCT plc: Half-yearly report
1st Sep 20229:42 amGNWProVen VCT plc: Total voting rights
1st Sep 20227:00 amGNWProVen VCT plc: Transaction in Own Shares
25th Aug 202210:09 amGNWProVen VCT plc: Issue of Equity
24th Aug 20225:49 pmGNWProVen VCT plc: Issue of Equity
12th Aug 20222:23 pmGNWProVen VCT plc: Close of Offer to Further Applications
9th Aug 202211:50 amGNWProVen VCT plc: Correction Re: Issue of Equity - Admission Dates
8th Aug 20227:00 amGNWProVen VCT plc: Issue of Equity
8th Aug 20227:00 amGNWProVen VCT plc: Director/PDMR Shareholding
1st Aug 202211:31 amGNWProVen VCT plc: Fundraising update - expected close of Offer
1st Aug 202211:06 amGNWProVen VCT plc: Total voting rights
26th Jul 20228:00 amGNWProVen VCT plc: Interim Management Statement
26th Jul 20227:00 amGNWProVen VCT plc: Result of AGM
22nd Jul 20224:13 pmGNWIntention to fundraise
8th Jul 202211:45 amGNWProVen VCT plc: Issue of Equity
7th Jul 20223:53 pmGNWProVen VCT plc: Issue of Equity
1st Jul 202210:54 amGNWProVen VCT plc: Total voting rights
27th Jun 20224:07 pmGNWProVen VCT plc: Transaction in Own Shares
27th Jun 20222:29 pmGNWProVen VCT plc: Publication of a Supplementary Prospectus
13th Jun 20225:00 pmGNWProVen VCT plc: Doc re. Annual Report and Accounts to 28 February 2022
10th Jun 20227:00 amGNWProVen VCT plc: Annual Financial Report
1st Jun 20221:51 pmGNWProVen VCT plc: Total voting rights
3rd May 20229:59 amGNWProVen VCT plc: Total voting rights
29th Apr 20225:25 pmGNWProVen VCT plc: Issue of Equity
25th Apr 20222:15 pmGNWProVen VCT plc: Extension of 2022/2023 Offer
13th Apr 20225:35 pmGNWProVen VCT plc: Issue of Equity
5th Apr 20227:29 pmGNWProVen VCT plc: Issue of Equity
1st Apr 20223:00 pmGNWProVen VCT plc: Total voting rights
31st Mar 20225:36 pmGNWProVen VCT plc: Director/PDMR Shareholding
31st Mar 20225:23 pmGNWProVen VCT plc: Issue of Equity
31st Mar 202210:11 amGNWProVen VCT plc: Intention to Utilise Over-Allotment Facility
11th Mar 20229:03 amGNWProVen VCT plc: Director Declaration
9th Mar 20221:09 pmGNWProVen VCT plc: Intention to Utilise Over-Allotment Facility
1st Mar 202212:20 pmGNWProVen VCT plc: Total voting rights
28th Feb 20225:00 pmGNWProVen VCT plc: Transaction in Own Shares
11th Feb 202210:53 amGNWProVen VCT plc: Updated Net Asset Value
11th Feb 202210:50 amGNWProVen VCT plc: Interim Management Statement
8th Feb 20224:39 pmGNWProVen VCT plc: Publication of a Supplementary Prospectus
4th Feb 20222:57 pmGNWProVen VCT plc: Statement re Offer for Subscription - Additional Shares for Early Applications
21st Jan 20221:05 pmGNWProVen VCT plc: Updated Net Asset Value

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