Proven VCT plc : Enhanced Buyback Facility

PROVEN VCT PLC
Enhanced Buyback Facility
2 April 2013

The Board of ProVen VCT plc ("the Company") announced on 25 March 2013 the closure of the Company's enhanced buy-back facility ("Enhanced Buyback Facility").

All correctly completed applications in respect of the Enhanced Buyback Facility (i.e. both shareholders' basic entitlement and, where elected, additional shares tendered) have been accepted in full and as a result there has been no scaling back of applications.

The Board has today in respect of applications for the 2012/2013 tax year purchased 3,648,848 ordinary shares of 10 pence each ("Shares") at a price of 102.7 pence per share and allotted 3,538,376 new Shares at 105.9 pence per share pursuant to the Enhanced Buyback Facility.

The new Shares rank pari passu in all respects with the existing share capital of the Company.

Included in the above are purchases and allotments in respect of Directors/PDMRs which are summarised as follows:

PDMR	Shares purchased	Shares issued	Resulting shareholding	Resulting percentage of issued share capital
Barry Dean	7,289	7,068	19,532	0.04%
Stuart Veale	3,644	3,533	19,780	0.04%

Application has been made to the UK Listing Authority and the London Stock Exchange for the new Shares to be admitted to the Official List and to trade on the London Stock Exchange's main market for listed securities. It is expected that admission will become effective and dealings will commence on or around 8 April 2013.

Buybacks and allotments in respect of accepted applications for the Enhanced Buyback Facility in the 2013/2014 tax year are expected to be undertaken on 8 April 2013 in accordance with the expected timetable for the Enhanced Buyback Facility.

As a result, of the buyback and allotment of shares undertaken today pursuant to the Enhanced Buyback Facility there are now 45,488,964 Shares in issue.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

For further information please contact:
Shane Elliott, Beringea LLP, 020 7845 7820
Kate Justham, Beringea LLP, 020 7845 7820

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Source: Proven VCT plc via Thomson Reuters ONE

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