ProVen Growth and Income VCT plc: Issue of Equity

30 Oct 2019 14:04

ProVen Growth and Income VCT plc: Issue of Equity

ProVen Growth and Income VCT plc

30 October 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 Growth and Income VCT plc announce an allotment today of ordinary shares of 1.6187p each ("Ordinary Shares") pursuant to the Offer for Subscription that opened on 11 January 2019. 7,732,634 Ordinary Shares were allotted at an average price of 66.0p, based on the latest announced net asset value of 63.2p 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 ProVen Growth and Income VCT plc's offer is effectively fully subscribed and it is therefore now closed to further applications.

For further information please contact:

Shane Elliott on 020 7845 7820

Beringea LLPCompany SecretaryTelephone 020 7845 7820