Interim Management Statement

ProVen Growth & Income VCT plc
Interim Management Statement
for the three months ended 31 May 2011

In  accordance with Rule 4.3 of the Disclosure  and Transparency Rules of the UK
Listing Authority, ProVen Growth & Income VCT plc presents an Interim Management
Statement  for  the  three  month  period  ended 31 May 2011. The statement also
includes  relevant financial information  between the end  of the period and the
date of this statement.

Forthcoming Dividend
The  Board declared an interim dividend on 15 February 2011 of 4.5p per Ordinary
Share to Shareholders on the register on 3 June 2011 to be paid on 29 July 2011.

Performance
Ordinary Shares
                   31 May   28 Feb   31 Oct   31 Aug
                     2011     2011     2010     2010

                    Pence    Pence    Pence    Pence

 Net Asset Value     86.0     86.4     75.8     71.3


'D' Shares
                   31 May   28 Feb   31 Oct   31 Aug
                     2011     2011     2010     2010

                    Pence    Pence    Pence    Pence

 Net Asset Value     89.6     90.0     91.7     91.9


Quoted  investments are valued at the closing bid price at 31 May 2011. Unquoted
investments  are  valued  at  fair  values  established  using the International
Private Equity and Venture Capital Valuation Guidelines.

Investment portfolio summary at 31 May 2011

Ordinary Share Portfolio investments by value
                                          Valuation

                                              £'000

 Venture capital investments

 Fjordnet Limited                             2,423

 Espresso Group Limited                       2,347

 Donatantonio Limited                         1,710

 Charterhouse Leisure Limited                   970

 Lazurite Limited                               930

 Prelude Media Limited                          925

 Eagle Rock Entertainment Group Limited         907

 SPC International Limited                      821

 Campden Media Limited                          698

 Chess Technologies Limited                     682

 Other investments                            1,911
                                        ------------
                                             14,324

 Cash at bank and other liquid funds         14,482
                                        ------------
 Total                                       28,806


'D' Share Portfolio investments by value
                                       Valuation

                                           £'000

 Venture capital investments

 MatsSoft Limited                            650

 Tossed Limited                              504

 Speed -Trap Holdings Limited                295

 Fjordnet Limited                            185

 Monica Vinader Limited                      138

 Cinergy International Limited               115

 Senselogix Limited                           92
                                     ------------
                                           1,979

 Cash at bank and other liquid funds       5,468
                                     ------------
 Total                                     7,447


Investment activity during the three month period ended 31 May 2011

Ordinary Share Portfolio investment addition
                         £'000



 Overtis Group Limited     122

 Campden Media Limited     113
                       --------
                           235


'D' Share Portfolio investment addition
                      £'000



 Senselogix Limited      23


Ordinary Share Portfolio investment disposal
                               Market value                   Gain   Realised
                                         at    Disposal    against    gain in
                        Cost   1 March 2011    proceeds       cost     period

                       £'000          £'000       £'000      £'000      £'000

 Steak Media Limited     621            725         747        126         22


There were no 'D' Share portfolio investment disposals in the three month period
ended 31 May 2011.

Investment activity from 1 June 2011 to the date of this report

Ordinary Share Portfolio investment addition
                         £'000



 Overtis Group Limited      98


'D' Share Portfolio investment addition
                  £'000



 Tossed Limited     120


There  have been no  investment disposals from  1 June 2011 to the  date of this
announcement.

Changes to share capital
                                                Ordinary Shares    'D' Shares

                                                    Shares £'000    Shares £'000

As at 1 March 2011                              24,068,108   390 8,269,911    83

Shares issued during 3 months to 31 May 2011    10,095,718   163         -     -

Shares bought back during 3 months to 31 May                      (15,218)     -
2011                                             (172,208)   (3)
                                               ---------------------------------
As at 31 May 2011                               33,991,618   550 8,254,693    83


Offer for Subscription
The Company's Top-Up Offer for Subscription launched on 10 December 2010 has
been extended and will now close on 31 October 2011 (unless fully subscribed
earlier).

Material events
Other than as described above, there were no material events during the period
from 1 March 2011 to 31 May 2011 or in the period from 1 June 2011 to the date
of this announcement.
 






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Source: Proven Growth & Income VCT plc via Thomson Reuters ONE

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