Proven Growth & Income VCT plc : Statement re O...

ProVen Growth and Income VCT plc

18 January 2017

Statement re Offer for Subscription - Closure of Offer

ProVen Growth and Income VCT plc (the "Company") is pleased to announce that the Offer for Subscription which opened on 21 September 2016 (the "Offer") has seen a strong level of demand and is expected to reach the GBP30 million fundraising target shortly. As a result, the Offer will close to further applications at 5 p.m. on Tuesday 31 January 2017 (the "Offer Closure Date"). The Directors of the Company have authorised the use of the over-allotment facility up to GBP10 million in order to satisfy investor demand in excess of the fundraising target of GBP30 million, subject to applications being received before 5 p.m. on the Offer Closure Date.

The final allotment for the 2016/17 tax year is expected to take place on 3 March 2017. There will be a further allotment for the tax year 2017/18 to follow as soon as practicable after 5 April 2017, following which the Offer will close. Following each such allotment the Company will announce the numbers and issue prices of the shares allotted. Dealings in the shares are expected to commence shortly after each allotment.

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

 Beringea LLP

 Company Secretary

 Telephone [phone]

 - End

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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