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

ProVen Growth & Income VCT plc

Interim Management Statement

for the three months ended 31 May 2016

ProVen Growth & Income VCT plc (the "Company") presents an Interim Management Statement for the three month period ended 31 May 2016. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

	Unaudited 31 May 2016	Audited 29 February 2016
	Pence	Pence
Net Asset Value per share ("NAV")	82.3	80.0
Dividends paid to date*	35.6	35.6
NAV plus dividends paid to date	117.9	115.6

* 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 1 June 2016, the Company announced a final dividend for the year ended 29 February 2016 of 4.0p per share. Having received approval at the Annual General Meeting of the Company on 5 July 2016, the dividend will be paid on 15 July 2016 to shareholders on the register at 17 June 2016.

Investment portfolio summary at 31 May 2016

Portfolio summary

	Valuation
Venture capital investments	£'000
MyOptique Group Limited	5,584
Pulpitum Limited	5,369
Dryden Holdings Limited	4,885
Third Bridge Group Limited	4,797
Sealskinz Holdings Limited	3,116
Big Data Partnership Limited	2,940
APM Healthcare Limited	2,854
Blis Media Limited	2,842
Disposable Cubicle Curtains Limited	2,633
MEL Topco Limited (t/a Maplin Electronics)	2,621
Other investments	25,544
	63,185
Cash at bank	11,184
Total	74,369

Quoted investments are valued at the closing bid price at 31 May 2016, 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 2016

	£'000
Thread Inc.	620
InContext Solutions, Inc.	400
Big Data Partnership Limited	253
Other investments	2
	1,275

Investment disposals

	Cost	Market value at 1 March 2016	Disposal proceeds	Gain against cost	Realised gain in period
	£'000	£'000	£'000	£'000	£'000
Speciality European Pharma Limited	2,052	2,052	2,052	-	-
Celoxica Limited	65	65	65	-	-
Linkdex Limited	45	45	45	-	-
Peerius Limited	33	33	33	-	-
Population Genetics Technologies Limited	-	15	15	15	-
	2,195	2,210	2,210	15	-

Investment activity from 1 June 2016 to the date of this announcement

Investment additions

	£'000
Poq Studio Limited	875
	875

Investment disposals

	Cost	Market Value at 1 March 2016	Disposal proceeds	Gain against cost	Realised  gain in period
	£'000	£'000	£'000	£'000	£'000
Celoxica Limited	44	44	44	-	-
Linkdex Limited	48	48	48	-	-
Conversity Limited	34	-	34	-	34
	126	92	126	-	34

Changes to share capital	Ordinary Shares of 1.6187p each
As at 1 March 2016	89,876,145
Shares bought back during the 3 months to 31 May 2016	-
Shares issued during the 3 months to 31 May 2016	-
As at 31 May 2016	89,876,145

In the period from 1 June 2016 to the date of this announcement, 599,209 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 2016 to 31 May 2016 or in the period from 1 June 2016 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 [phone].

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

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