ProVen Growth and Income VCT plc: Statement re Offer for Subscription – Additional Shares under the Offer

25 Jan 2019 12:39

ProVen Growth and Income VCT plc: Statement re Offer for Subscription – Additional Shares under the Offer

ProVen VCT plc

ProVen Growth and Income VCT plc

25 January 2019

Statement re Offer for Subscription – Additional Shares under the Offer

ProVen VCT plc and ProVen Growth and Income VCT plc (individually a “Company”, collectively the "Companies") are pleased to announce that the Offer for Subscription which opened on 11 January 2019 (the "Offer") has seen a strong level of demand and that the first £5 million in gross applications for each Company, the level at which applicants who submit valid applications under the Offer will benefit from additional shares, are expected to be received shortly.

Each of the Companies has agreed with Beringea LLP ("Beringea"), the Companies' investment manager, that all applicants from whom valid application forms are received by Beringea by 1.00pm on 28 January 2019 or, if later, by 1.00 pm on the date on which the relevant Company first exceeds £5 million gross applications but no later than 1.00 pm on 15 February 2019, will benefit from additional shares in that Company under the Offer, even if, in either case, £5 million gross applications per Company has been exceeded. The subscription price of all such additional shares will be met by Beringea.

The Offer will close not later than 1.00pm on 5 April 2019 in respect of the 2018/2019 Offer and not later than 1.00pm on 30 April 2019 in respect of the 2019/2020 Offer, or as soon as the Offer is fully subscribed. The directors of each of the Companies may decide to extend the Offer in respect of their Company at their absolute discretion to a date no later than 10 January 2020.

New Ordinary Shares will be allotted and issued in respect of valid applications received for the 2018/2019 Offer on 1 March 2019, 29 March 2019 and 5 April 2019 and any other date prior to 5 April 2019 on which the Directors decide, and for the 2019/2020 Offer on 8 April 2019 and 30 April 2019, and any other dates after 5 April 2019 and prior to the close of the Offer on which the Directors decide.

For further information please contact Shane Elliott on 020 7845 7820.

Beringea LLP

Company Secretary

Telephone 020 7845 7820

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