Proven Vct Regulatory News (PVN)

30 Apr 2019 18:37

ProVen VCT plc

30 April 2019

Issue of Equity and Offer update

On 11 January 2019, ProVen VCT plc and ProVen Growth and Income VCT plc (the “Companies”) launched an offer for subscription to raise up to £60,000,000 by way of an issue of new ordinary shares ("New Ordinary Shares") in the Companies, with an over-allotment facility of up to a further £20,000,000, payable in full in cash on application (the “Offer”). Full details of the Offer are contained in a prospectus (comprising a Securities Note, Registration Document and Summary ("the Prospectus")), which was published by the Companies on 11 January 2019.

The Directors of ProVen VCT plc announce an allotment today of ordinary shares of 10p each ("Ordinary Shares") pursuant to the Offer for Subscription that opened on 11 January 2019. 1,714,516 Ordinary Shares were allotted at an average price of 86.7p, based on the latest announced net asset value of 83.3p per Ordinary Share.

Application for the shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities will be made shortly.

Following the above allotment the Company's offer is effectively fully subscribed and it is therefore now closed to further applications. Investors whose applications for shares in ProVen VCT plc were not accepted before that Offer was closed are reminded that amounts in respect of that Offer will be re-allocated to the Proven Growth & Income VCT plc Offer, unless applicants had requested in their application form that such amounts be returned to them. ProVen Growth and Income VCT plc's offer has been extended in accordance with the terms of the Offer until 10 January 2020.

To obtain a copy of the Securities Note private investors and Financial Advisers should call the investment manager, Beringea, on 020 7845 7820. A downloadable version of the Securities Note is also available from www.provenvcts.co.uk. A copy of the Prospectus is available, free of charge, from the registered office of the Company or from:

Beringea LLP39 Earlham StreetLondon WC2H 9LT

For further information please contact:

Shane Elliott on 020 7845 7820

Beringea LLPCompany SecretaryTelephone 020 7845 7820