Proven Growth & Income VCT plc : Interim Manage...

ProVen Growth & Income VCT plc
Interim Management Statement
for the three months ended 31 May 2015

ProVen Growth & Income VCT plc (the "Company") presents an Interim Management Statement for the three month period ended 31 May 2015. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

	Unaudited 31 May  2015	Audited 28 Feb 2015
	Pence	Pence
Net Asset Value per share ("NAV")	85.8	85.7
Dividends paid to date*	31.1	31.1
Total Return	116.9	116.8

* Dividends paid represents dividends paid in respect of the Original 'C' Shares between their launch in 2006 up until their conversion in 2009 and as Ordinary Shares since the 'C' Share conversion. 'C' Shares were converted into Ordinary Shares on a one for one basis in 2009.

Dividends paid or declared
On 18 June 2015, the Company announced a final dividend for the year ended 28 February 2015 of 2.5p per share. Having received approval at the Annual General Meeting of the Company on 22 July 2015, the dividend will be paid on 31 July 2015 to shareholders on the register at 3 July 2015.

Investment portfolio summary at 31 May 2015

	Valuation
	£'000
Venture capital investments
Cognolink Limited	4,645
D30 Holdings Limited	2,960
Pulpitum Limited	2,704
MEL TopCo Limited (t/a Maplin)	2,496
Abzena plc	2,483
MyOptique Group Limited	2,400
APM Healthcare Limited	2,356
Speciality European Pharma Limited	2,307
Inskin Media Limited	2,301
Monica Vinader Limited	2,263
Other investments	23,520
	50,435
Cash at bank	27,467
Total	77,902

Quoted investments are valued at the closing bid price at 31 May 2015, discounted where appropriate. 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 31 May 2015
Investment additions

	£'000
D30 Holdings Limited	2,960
Sealskinz Holdings Limited	2,130
InContext Solutions Inc	675
Big Data Partnership Limited	432
Disposable Cubicle Curtains Limited	288
Chess Technologies Limited	259
Senselogix Limited	18
	6,762

Investment disposals

	Cost	Market  value at 1 March 2015	Disposal  proceeds	Gain/(loss)  against  cost	Realised  gain/(loss)  in period
	£'000	£'000	£'000	£'000	£'000
Eagle-I Music Limited	851	509	459	(392)	(50)
Saffron Digital Limited*	-	69	69	69	-
Celoxica Limited	61	61	61	-	-
Speciality European Pharma Limited	55	55	55	-	-
Peerius Limited	48	48	48	-	-
Long Eaton Healthcare Limited	-	16	23	23	7
	1,015	758	715	(300)	(43)

*Investment previously realised but further proceeds received

Investment activity from 1 June 2015 to the date of this announcement

Investment additions

	£'000
Big Data Partnership Limited	259

Investment disposals

	Cost	Market Value at 1 March 2015	Disposal  proceeds	Gain against  cost	Realised  gain in  period
	£'000	£'000	£'000	£'000	£'000
MEL TopCo Limited (t/a Maplin)	279	279	279	-	-
Speciality European Pharma Limited	55	55	55	-	-
Celoxica Limited	41	41	41	-	-
Peerius Limited	33	33	33	-	-
	408	408	408	-	-

Changes to share capital

	Ordinary Shares of  1.6187p each
As at 1 March 2015	72,475,003
Shares issued during the 3 months to 31 May 2015	17,842,141
Shares bought back during the 3 months to 31 May 2015	-
As at 31 May 2015	90,317,144

In the period from 1 June 2015 to the date of this announcement, 410,993 Ordinary Shares were repurchased and subsequently cancelled.

Material events
Other than the matters described above, there were no material events during the period from 1 March 2015 to 31 May 2015 or in the period from 1 June 2015 to the date of this announcement.

Further information
Further information regarding the Company, can be found on Beringea's dedicated VCT website: www.provenvcts.co.uk or by contacting Beringea, the Investment Manager, at [e-mail] or by telephone on 020 7845 7820.

Beringea LLP
Company Secretary
Telephone [phone]

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Proven Growth & Income VCT plc via Globenewswire

HUG#1941091